Stanbic Bank Ghana LTD and The Standard Bank of South Africa Limited have successfully arranged a US$205 million senior secured term loan and revolving credit facilities for Engineers & Planners Company Limited (E&P), Ghana’s largest indigenous mining contractor.
The five-year facilities, structured in two tranches (US$110 million and US$95 million), will support E&P’s ongoing contract mining operations, particularly its long-term engagement with Gold Fields Ghana Limited (Gold Fields Ghana). Ecobank Ghana PLC and Absa Bank Ghana LTD participated as key lending partners, underscoring strong collaboration within Ghana’s banking sector to mobilise capital at scale.
With over 25 years of operational excellence and more than 4,000 employees, E&P has established itself as a critical player in Ghana’s mining value chain. The financing strengthens the company’s capacity to execute large-scale hard-rock mining contract with Gold Fields Ghana, invest in and deepen operational efficiencies on the contract.
At a brief signing ceremony in Accra, Kwamina Asomaning, Chief Executive of Stanbic Bank Ghana, stated: “Our relationship with E&P spans more than two decades, built on trust and shared ambition. This transaction is a strong statement of our continued commitment to supporting indigenous Ghanaian enterprises that operate at global standards.
“By structuring and mobilising the USD205 million facility, we are not only enabling Engineers & Planners to scale its operations but also reinforcing Stanbic Bank’s role as a long-term partner in advancing localisation, strengthening Ghana’s mining value chain, and driving sustainable growth across the broader economy.”
Ibrahim Mahama, Chief Executive Officer of E&P said: “The partnership between E&P and Stanbic Bank has been a longstanding fruitful relationship, and this facility marks an important milestone in our growth journey as a proudly Ghanaian company. It strengthens our capacity to deliver on large-scale mining contracts to the highest global standards, while deepening local participation in the sector. We are grateful to Stanbic Bank, Standard Bank, and our lending partners for their confidence in our vision and for supporting indigenous excellence.”
Beyond industry growth, the facility is expected to drive broader economic impact through sustained job creation, enhanced local participation in mining, increased supply chain activity, and strengthened foreign exchange inflows.
To date, Stanbic Bank Ghana and Standard Bank South Africa Limited have successfully arranged facilities for Engineers & Planners in excess of USD450 million.
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Source: www.myjoyonline.com