Engineers & Planners (E&P), the mining firm founded by Ghanaian entrepreneur Ibrahim Mahama, has secured a landmark $205 million senior secured loan facility.

Arranged by a consortium including Stanbic Bank, Standard Bank, Ecobank, and Absa, this represents one of the largest financing packages ever for a locally owned mining services company.

The capital is earmarked for long term contract operations at Gold Fields’ Tarkwa and Damang mines.

The five year facility will allow E&P to significantly upgrade its heavy machinery and expand its capacity for hard rock extraction.

By reinforcing its operational efficiency, the firm aims to meet the rigorous global standards required by international mining majors.

This deal brings the total financing structured by Standard Bank Group for E&P to over $450 million, highlighting a two decade long partnership between the lender and the indigenous miner.

Founded in 1997 as a small startup, E&P has grown into West Africa’s largest indigenous contract miner, employing over 4,000 people across Ghana, Liberia, and Sierra Leone.

The new facility is expected to boost local procurement and support thousands of jobs within the mining supply chain. Ibrahim Mahama noted that the deal strengthens the company’s ability to compete with global operators while deepening local participation in the extractive sector.

SOURCE: BUSINESS INSIDER AFRICA