ABC Holdings, a parent company of BancABC, has secured a US$50mn revolving trade finance credit line from Afreximbank.

The facility will be marketed to large and middle corporate entities as well as small and medium enterprises in all five countries of operation − Botswana, Mozambique, Tanzania, Zambia and Zimbabwe − on a first come first served basis.

The funding will be channelled towards financing the importation of raw materials, semi-processed goods, consumables and spares, purchase of goods/commodities as well as meet working capital requirements to fulfil export orders.

Companies will also be able to use the funding to improve their cash flow cycles by discounting their export proceeds, ABC Holding says.

BancABC group chief operating officer says: “The facility is a shot in the arm for the group which will enhance our capacity to bolster regional trade integration initiatives and exports to international markets. There are huge, and in some cases virtually untapped opportunities for trade business in these markets and beyond.”