Ibrahim Mahama (M) with some officials of Standard Bank Ghana and Standard Bank South Africa
Engineers and Planners (E&P), a mining giant in Ghana, has secured a $205 million senior term loan and revolving credit facilities led by Standard Bank Ghana and Standard Bank South Africa to boost its operations.
The five-year facilities, structured in two tranches ($110 million and $95 million), is expected to 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.
According to the company, the financing strengthens the company’s capacity to execute large-scale hard-rock mining contracts with Gold Fields Ghana and to invest in and deepen operational efficiencies on the contract.
Speaking at a brief signing ceremony in Accra, Kwamina Asomaning, Chief Executive of Stanbic Bank Ghana said the bank’s relationship with E&P spans over 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 $205 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,” he stated.
Chief Executive Officer of E&P, Ibrahim Mahama, said the partnership between E&P and Stanbic Bank has been a longstanding, fruitful relationship stating that the facility marks an important milestone in the company’s growth as 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,” Mr. Mahama stated.
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.
By Ebenezer K. Amponsah