Absa partnering with development finance agency to help East African coffee farmers
South African banking group Absa and the International Finance Corporation (IFC – part of the World Bank group) will jointly provide a commodity trade finance facility, worth up to $60-million, to a leading global green coffee merchant, Volcafe. This facility will strengthen Volcafe’s operations in East Africa and support thousands of coffee farmers in that region, by providing working capital for the purchase of coffee cherries (the fruit from which the coffee beans are extracted) from ...