Mauritius-based Bank One has extended a $5 million facility to the ESATF trade fund, managed by ESATAL to support Africa’s growing trade finance sector.
This marks Bank One’s first direct lending engagement with ESATF, reinforcing its long-standing relationship with TDB Group, which previously included participation in syndicated loans.
ESATAL executive director Umulinga Karangwa noted the importance of the partnership, saying it would aloe the fund to extend its “trade finance reach across African markets.”
“This latest collaboration builds on the existing relationship with TDB Group and reflects a shared commitment to unlocking capital for businesses that drive regional trade and economic development,” Karangwa said.
Bank One chief executive Sunil Ramgobin echoed this sentiment, highlighting the institution’s focus on sustainable, inclusive growth.
By supporting ESATF’s growing loan book, we respond to rising demand for trade finance across African markets. We stand alongside TDB Group in building a stronger, more resilient Africa and look forward to achieving many more milestones together as we finance progress that truly matters,” he said.
With $300 million in net assets under management and over 60 investors, ESATF serves as a key platform for institutional investors looking to support SMEs, women entrepreneurs and smallholder farmers.
JN/APA