https://www.engineeringnews.co.za

Tanzania-based trading firm secures $100m RMB loan

24th January 2013

By: Creamer Media Reporter

  

Font size: - +

The trading arm of Mohammed Enterprises Tanzania has secured a $100-million loan facility from a consortium of banking groups.

Rand Merchant Bank (RMB) partnered with China Construction Bank, Citibank and Nedbank to originate, arrange and structure the deal.

The loan would provide the Tanzania-based commodities trading company with much-needed working capital and would facilitate commodity trade in and out of East Africa, said RMB head of trade and working capital Gregory Havermahl.

“RMB is focused on expanding regionally in Africa and the loan complements the recent establishment of an on-the-ground presence, in Tanzania, of retail and commercial bank First National Bank alongside RMB,” he said.

Edited by Creamer Media Reporter

Comments

Showroom

Goodwin Submersible Pumps Africa (Pty) Ltd
Goodwin Submersible Pumps Africa (Pty) Ltd

Goodwin Submersible Pumps Africa is sole distributors for Goodwin electrically driven, submersible, abrasion resistance slurry pumps.

VISIT SHOWROOM 
SBS Tanks
SBS Tanks

SBS® Tanks is a leading provider of innovative water security solutions with offices in Southern Africa, East and West Africa, the USA and an...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.094 0.147s - 137pq - 2rq
Subscribe Now