Maviga, the pulse and crop trader based in Yalding, to target Africa after agreeing $27.5m revolving credit facility

Maviga, the international trader of dried pulses and other edible crops, will be able to draw on another $7.5 million (£5m) of credit as it looks to expand into African markets.

The Yalding-based company sources more than 100 varieties of produce from more than 30 countries and ships it to over 80 markets around the globe.

It has extended its revolving credit facility with RBS from $20m to $27.5m to give it more flexibilty as it expands the business, which was founded in 1994.

Maviga is a trader of pulses and dried crops across the globe
Maviga is a trader of pulses and dried crops across the globe

Chairman and chief executive Marcus Coles said the business, which received its third Queens Award for Enterprise in International Trade last year, is anticipating expansion as food manufacturers “see the nutritional profile of their products improve using pulse ingredients”.

He added: “We know there are many opportunities ahead, particularly in Africa which we see as a continent of great opportunity.

“RBS has been with Maviga from our very first days running the business from an attic in Maidstone.

“This additional lending will provide Maviga with the flexibility to capitalise population growth, the rising costs of livestock farming and growing recognition of the health benefits of a diet high in fibre and leguminous protein..." - RBS' Roy Bawden

“We feel the business has benefitted from this long-term relationship and their continued support.

“It hasn’t always been plain sailing but the best relationships are often forged through overcoming challenges together and I look forward to our future together.”

RBS has worked with Maviga for 21 years, during which time the firm has doubled in size every five years.

UK sector director Roy Bawden said: “This additional lending will provide Maviga with the flexibility to capitalise on the opportunities in their sector driven by population growth, the rising costs of livestock farming and growing recognition of the health benefits of a diet high in fibre and leguminous protein. It was only natural we provide further support.

“RBS is delighted to have been part of the success story that is Maviga since 1994. When you work with a business for this length of time, you develop a deep understanding of the customer’s industry, business model and strategy.”

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