Afreximbank signs $10 million ATEX facility agreement with Malawi’s FDH Bank

The African Export–Import Bank (Afreximbank) has signed on Saturday a $10 million Africa trade exchange (ATEX) facility agreement with FDH Bank Plc – Malawi.
The ATEX is an online platform, developed by the Economic Commission for Africa (ECA) and Afreximbank, for pooling procurement for Food, Fertilizers and Agricultural Chemicals and hence providing one point of transparent and competitive access to critical supplies.
The facility will assist the FDH Bank in supporting its clients in timely importation of fertilizers for the 2023/2024 growing season in support of Malawi government’s strategy to expand its agricultural activities.
FDH Bank Plc is a subsidiary of FDH Financial Holdings Limited and is one of the leading commercial banks in Malawi, their relationship with Afreximbank dates back to 2016 when it received a $3 million AFTRAF Facility. FDH is the first bank in Southern Africa to have access to a facility under the ATEX.
Gwen Mwaba, director for trade finance at Afreximbank, has signed the agreement with George Chitera, deputy managing director of FDH Bank, at the third edition of Africa’s largest trade and investment fair, IATF 2023 in Cairo, Egypt.