FDH Bank Plc earmarks 150 SMEs for the US$10 million ATEX financing

FDH Bank Plc has earmarked about 150 local small and medium enterprises (SMEs) to benefit from the US$10 million Africa Trade Exchange (ATEX) export trade facility.

The deal, which is the fruit of the agreement sealed by FDH Bank Plc and African Export and Import Bank (Afrixembank) signed in November last year during the Third Intra-African Trade Fairs in Cairo, will see local traders exporting their goods to African and Caribbean markets.

FDH Bank Plc Managing Director, Noel Mkulichi addressing traders and others during a breakfast engagement in Blantyre on Tuesday, said the Bank values the relationship it has with the local traders hence the need to offer the opportunity to connect them with local and international importers and exporters, fostering valuable relationships and paving the way for fruitful partnerships.

“Our sponsorship to ATEX will ensure a lot of benefits like access to the platform’s verified suppliers and buyers and discovering different products from all over Africa including supplier and buyer verification and matching.”

“You will have access to a trusted platform that offers access to competitive rates due to economies of scale reached through consolidated negotiations with sellers and services providers. There is also access to real time information on pricing, product data and seasonality, access to simplified quota information and management with clear guidelines for importers and exporters, and also preferential access to foreign currency products through the ATEX foreign currency facility,” said Mkulichi.

Mkulichi further said as a Bank that champions growth, they look at this as a great avenue for growth for the traders’ businesses and the country at large.

“The Malawi 2063 aims to transform Malawi into a wealthy and self-reliant industrialized upper-middle-income country by year 2063. We believe with these strides and continuous innovation, we can achieve this goal,” he said.

Afrixembank Senior Manager responsible for Digital Marketing Solutions, Annerose Ngemu said the platform aims at activating a lot of economic activities.

MBL Holdings Limited Managing Director, Leston Mulli commended FDH Bank Plc saying the platform offers a great opportunity for local traders to be exposed to international markets.

ATEX is a platform connected within the digital ecosystem, supporting the implementation of the African Continental Free Trade Area (AfCFTA) Agreement.

It is also supported through the Intra African Trade Fair (IATF) with the next one taking place in Algeria in 2025.

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