Select Page

RMB facilitates syndicated loan for QKR Navachab’s mine expansion

RMB facilitates syndicated loan for QKR Navachab’s mine expansion

Financial institution RMB has been appointed by QKR Navachab as the primary mandated lead arranger, underwriter, and coordinator of a syndicated loan obtained from Namibian and South African banks.

This bespoke term funding, amounting to US$ 155 million, is designated to fuel the expansion programme recently unveiled by the mine, the financier said.

The multifaceted solution orchestrated by RMB holds paramount importance for the imminent ramp-up of mining and processing activities. This expansion endeavors to substantially augment the mine’s gold output, thereby making a significant contribution to Namibia’s economic sustainability. Beyond the financial assistance, RMB and the banking syndicate will also furnish risk management solutions to optimize the mine’s exposure to commodity prices, currency fluctuations, and major operational expenses.

Jason Shikalepo, Head of Investment Banking at RMB in Namibia, underscores the significance of this landmark deal, stating, “This deal stands out as one of the largest resources transactions structured and executed by a Namibian financial institution. It underscores RMB’s ability to deliver complex, market-leading solutions bringing together stakeholders from across the financial ecosystem. By participating in such opportunities, RMB demonstrates its commitment to developing Namibia’s capital markets and fostering shared prosperity for our clients and the communities in which they operate.”

Moreover, this transaction reaffirms RMB’s enduring partnership with QKR Navachab. The comprehensive solution exemplifies the corporate investment bank’s unique prowess in addressing client needs by leveraging expertise across various business units.

RMB’s facilitation of this significant financing for Namibia’s second-largest gold mine underscores its commitment to bolstering the economic sustainability of Karibib—a town in Namibia. By extending the mine’s lifespan, this initiative not only safeguards existing jobs but also provides a lifeline for numerous small- and medium-scale enterprises operating in the region.


About The Author

News Service

News Services form an indispensable part of the newsroom toolbox. In Africa, there are several advanced providers of information, some servicing the entire continent while others are more regional, or country specific. The Namibia Economist employs a wide spectrum of local, regional, continental and international News Services.