RMB Namibia has been appointed by QKR Navachab as the initial mandated lead arranger, underwriter, and coordinator of a syndicated loan from Namibian and South African banks.
The loan, providing bespoke term funding worth N$2.9 billion (USD 155 million), according to the bank, is earmarked for the mine’s recently announced expansion programme.
“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,” said Jason Shikalepo, Head of Investment Banking at RMB in Namibia.
“This transaction reinforces RMB’s long-standing relationship with QKR Navachab. The comprehensive solution exemplifies the corporate investment bank’s unique ability to address client needs by leveraging expertise across several business units.”
The multifaceted solution, according to RMB, is crucial for the critical ramp-up of the mining and processing activities.
“This expansion will significantly scale up the mine’s gold output, making a substantial contribution to Namibia’s economic sustainability. In addition to the funding, RMB and the banking syndicate will provide risk management solutions to optimize the mine’s exposure to commodity prices, currency, and major operating expenses.”
RMB said enabling Namibia’s second-largest gold mine reflects its commitment to enhancing the economic sustainability of Karibib, a town in Namibia.
“By extending the mine’s lifespan, this initiative will secure jobs and provide a lifeline for numerous small- and medium-scale enterprises operating in the region.”
