Ghanaian industrialist Ibrahim Mahama has secured a US$205 million financing package to scale his company’s contract mining operations with Gold Fields Ghana, reinforcing the growing role of indigenous firms in the country’s extractive sector, according to Business Insider Africa.
The funding was arranged by Stanbic Bank Ghana in partnership with Standard Bank Group, with participation from Ecobank Ghana and Absa Bank Ghana. Structured as a senior secured term loan and revolving credit facility, the package is split into two tranches of US$110 million and US$95 million.
The financing will support Mahama’s firm, Engineers & Planners Company Limited, in expanding its long-term contract mining activities at Gold Fields’ key operations, including Tarkwa and Damang. The funds are expected to be used for heavy equipment acquisition, operational upgrades and efficiency improvements in hard-rock mining projects, as reported by Business Insider Africa.
Bank executives described the deal as a strong endorsement of local capacity in large-scale mining, while Mahama characterized the facility as a transformative milestone that strengthens Engineers & Planners’ ability to deliver global-standard services. The transaction underscores Ghana’s broader push to deepen local participation and retain greater value within its mining value chain.
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