A $50 million trade finance facility for a few African nations was announced today by GHIB and British International Investment (BII).

Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

Ghana International Bank plc (GHIB), a leading UK-based African financial institution, and British International Investment (BII), the UK’s development finance institution and impact investor, today announced a $50m trade finance facility covering Sierra Leone, Liberia, The Gambia, Benin, the Democratic Republic of Congo, Rwanda, and Tanzania.

Under a Master Risk Participation Agreement (MPRA), the $50 million facility will enable GHIB to support more businesses and facilitate trade flows in the target countries.

This addresses the general lack of credit appetite for frontier markets in Africa for reasons including high risk perception and comparatively lower volumes.

Source: newsthemegh.com