African Export-Import Bank (Afreximbank) signed two pre-export facilities agreements worth $80 million with two cocoa processing companies in Ghana.

The Bank signed two pre-export finance facility agreements worth $40 million each with Niche Cocoa Industries and Plot Enterprise Ghana.

The facility will finance the purchase of raw cocoa beans to enable Niche Cocoa Industries and Plot Enterprise Ghana to meet their obligations to off-takers.

Gwen Mwaba, Trade Finance Director and Global Head, Afreximbank signed the agreement with Niche's CEO and founder Edmund Poku.

For Plot Enterprise Ghana, its CFO Michael Arhin signed the agreement with Rene Awambeng, Client Relations Global Head, Afreximbank.

(Reporting by Marwa Abo Almajd; Editing by Anoop Menon)


Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.