Stanbic Clinches Morupule Financing Deal

Monday, March 17, 2008

Stanbic Bank Botswana said on Friday that it has been selected as a preferred financial partner for funding of the initial expansion of the Morupule Colliery.

This means the bank is tasked with providing bridging finance for the expansion, the bank said through its PR agency, Hotwire. The deal is worth over P100 million and is one of the biggest financing transactions in the history of Stanbic Bank Botswana.

"This is an overwhelming vote of confidence for our people, products and services and it is a clear demonstration of our commitment to support Botswana's future growth," says Dennis Kennedy, Stanbic Bank Botswana's managing director.

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