Thursday, 26 February

Stanbic Bank Ghana leads USD 205 million financing deal for Engineers & Planners

Business
Ibrahim Mahama signing the deal

Stanbic Bank Ghana Limited has successfully arranged a USD205 million senior secured term loan and revolving credit facilities for Engineers & Planners Company Limited (E&P), Ghana’s largest indigenous mining contractor.

The financing package, structured in collaboration with The Standard Bank of South Africa Limited, will support E&P’s long-term mining operations with Gold Fields Ghana Limited over a five-year period.

The facility is expected to strengthen local capacity within Ghana’s mining sector, a critical pillar of the country’s economic growth.

Ecobank Ghana PLC and Absa Bank Ghana LTD participated in the transaction as lending partners, reinforcing confidence in the deal and in E&P’s operational track record.

Stanbic Bank Ghana has maintained a longstanding relationship with Engineers & Planners spanning more than two decades. Over that period, the bank has arranged over USD450 million in financing facilities to support the company’s expansion and operational growth.

 

The latest transaction underscores Stanbic Bank’s continued commitment to supporting indigenous enterprises operating at international standards, while contributing to job creation, supply chain development, and sustainable national economic progress.

Source: Classfmonline.com/Cecil Mensah