In a significant boost for Ghana’s mining sector, Stanbic Bank Ghana Limited has led the arrangement of a USD205 million senior secured term loan and revolving credit facilities for Engineers & Planners Company Limited (E&P), the nation’s foremost indigenous mining contractor.
The story behind this landmark deal is one of collaboration and strategic vision. Working alongside The Standard Bank of South Africa Limited, Stanbic structured a robust financing package tailored to support E&P’s long-term partnership with Gold Fields Ghana Limited, set to span the next five years. This funding is poised to not only power mining operations but also reinforce local expertise and capacity, a cornerstone for Ghana’s sustained economic growth.
The transaction drew further confidence and credibility from the involvement of Ecobank Ghana PLC and Absa Bank Ghana LTD, both joining as lending partners. Their participation speaks volumes about the trust placed in E&P’s operational excellence and the overall strength of the deal.
This is far from the first chapter in the relationship between Stanbic Bank Ghana and Engineers & Planners. For over twenty years, the bank has stood by E&P, having arranged more than USD450 million in financing to fuel the company’s expansion and operational ambitions.
With this latest transaction, Stanbic Bank reaffirms its unwavering support for homegrown enterprises that meet and exceed international benchmarks. The impact is expected to ripple beyond E&P, contributing to job creation, the growth of supporting industries, and the broader agenda of sustainable economic development in Ghana.
Source: Apexnewsgh.com