DEALS Facilitating Growth in Africa’s Mining Sector Absa | Corporate and Investment Banking > Insights and Events > Facilitating Growth in Africa’s Mining Sector SHARE We are thrilled to announce that we have successfully facilitated the closure of a remarkable USD155m financing for QKR Namibia Navachab Gold Mine (Pty) Ltd in Karibib, Namibia. Absa acted as a joint MLA and hedge provider; our team is proud to have played a pivotal role in enabling this transaction. The Navachab Gold Mine, is an open-pit gold mine situated near Karibib, in the Erongo region of Namibia. The mine commenced operations in 1985 and employs over 1,200 staff with a peak production volume of 140koz. The USD155m term loan will enable Navachab Gold Mine to refinance existing debt, facilitate a dividend distribution and allows the client to scale up production via an expansion, particularly in their processing activities. The transaction demonstrates our commitment to a strategic sector in the Namibian economy. Contact Thulani Shange for more information https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Related Articles DEALS Powering progress for a cleaner energy future We are proud to partner with Mulilo and Air Products South Africa on a transformative 75MWAC solar PV power plant in the Northern Cape. The Ukuqala Project marks a significant step in advancing South Africa’s renewable energy transition and securing a low-carbon future. Read more DEALS Driving purposeful partnerships to advance retail growth in Africa At Absa CIB, we’re committed to building partnerships that create lasting value for both businesses and communities. Our collaboration with Garden City Mall in Nairobi, Kenya, highlights this commitment as we help drive sustainable growth and economic opportunity in one of East Africa’s largest retail developments through a USD 37,3 million commercial property financing transaction. Read more DEALS Driving a greener energy value chain We are pleased to share that Absa has successfully acted as Co-Mandated Lead Arranger, Facility Agent and Hedge Provider alongside Nedbank for Pele Green Energy’s Sonvanger 100MW solar PV power project. This R2.2 billion project is a landmark transaction for Pele Green Energy, positioning them as a leading developer in South Africa’s renewable energy sector. Read more
