Bank offers funding to Ethiopian exporters
13/07/2009
An African bank has said it could be willing to provide financial backing for private-sector companies in Ethiopia, particularly for export-focused businesses, including those in the leather sector.
Representatives of the bank, the Eastern and Southern African Trade and Development (PTA) Bank, held discussions with Ethiopian business owners in Addis Ababa on July 6. The event was organised by the Addis Ababa Chamber of Commerce and Sectoral Association.
PTA, which is based in Nairobi, Kenya, has already done business in Ethiopia, including with companies in the leather industry, as well as in other manufacturing sectors and coffee production.
A spokesperson for the bank, Mutahi Mureithi, told local media that PTA would be able to give businesses requesting backing a response within two weeks. He said funding of between $500,000 and $20 million could be available for companies that can present a good enough business case.
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