Rand Merchant Bank (RMB) has arranged a US$100mn credit facility for Mohammed Enterprises Tanzania (Metl).

The commodities trading company will use the money for the import and export of commodities in East Africa. Many of the commodities are then manufactured into a range of retail-related products by Metl.

The loan was syndicated to banks including China Construction Bank, Citi and Nedbank; however the terms and the structure of the syndicate remain confidential.

RMB’s head of trade and working capital Gregory Havermahl says: “The loan highlights RMB’s presence on the African continent as an indigenous African bank partnering with an indigenous African company and demonstrates RMB’s capacity to originate, arrange and structure commodity trading deals of this nature and magnitude, as well as getting suitable funding partners on board. We are proud to assist one of Africa’s foremost importers and exporters in their growth strategy.”