06 January 2016
This is a USD 20 million syndicated facility arranged by ITFC. ICD participated in the facility with an amount of USD 5 million. It is basically a structured mode of finance to import rice from member or non-member countries to meet the demand in Mozambique. ADC SA commenced its operation in October 2013 as a result of a merger process agreed officially in February 2013 between Africom Limitada (Africom) and its main competitor in Mozambique, Delta Trading CIA Limitada (Delta). Africom and Delta are Mozambican compannies investing in different sector with a focus on fast moving consumer goods.