Stanbic, Standard Bank Arrange $205M Loan for Engineers & Planners

Standard Bank Group===Stanbic Bank Ghana Limited and The Standard Bank Limited have successfully arranged a $205 million senior secured term loan and revolving credit facilities for Engineers and Planners Company Limited, Ghana's largest indigenous mining contractor. Ecobank Transnational Bank===Ecobank Ghana and Absa Group===Absa Bank Ghana also participated as key lending partners. The five-year facilities, structured in two tranches ($110 million and $95 million), will support Engineers and Planners Company Limited's ongoing contract mining operations, particularly its long-term engagement with Gold Fields===Gold Fields Ghana Limited. This financing strengthens Engineers and Planners Company Limited's capacity to execute large-scale hard-rock mining contracts and invest in operational efficiencies. The cumulative financing arranged by Standard Bank Group===Stanbic Bank Ghana Limited and Standard Bank for Engineers and Planners Company Limited now exceeds $450 million. The deal, signed in Accra, is seen as a significant step in advancing localization, strengthening Ghana's mining value chain, and driving sustainable growth across the broader economy. Engineers and Planners Company Limited CEO Ibrahim Mahama expressed gratitude for the support, emphasizing the facility's role in deepening local participation in the sector. The transaction aligns with Ghana's renewed economic focus on mining, which contributed 31% to the nation's GDP in 2024, and the government's efforts to formalize and expand legitimate large-scale mining.