Finance

IFC to loan up to US$30 mln to Ghana’s LMI Holdings for growth projects

Wednesday, 27 July 2022 16:53
IFC to loan up to US$30 mln to Ghana’s LMI Holdings for growth projects

(Ecofin Agency) - The IFC loan is the institution’s first commitment to finance both infrastructure and water development in a special economic zone in Sub-Saharan Africa. 

The International Finance Corporation (IFC) announced, Wednesday (July 27), plans to provide up to a US$30 million loan to Ghanaian diversified company LMI Holdings.

The company, which operates in construction, real estate development, logistics, utilities, and ICT industries, will use the resource to finance its development plan and provide client companies with the critical infrastructure they need to increase their productivity.

"As an indigenous Ghanaian company, LMI is committed to the task of facilitating our country's industrialization ambitions and boosting exports. This partnership with IFC gives LMI the means and space to make big bets on Ghana," said Kojo Aduhene (photo), LMI's CEO. 

LMI Holdings plans to build a solar power plant that will power businesses operating in the Tema Free Trade Zone on the outskirts of Accra. The diversified firm will also build a water treatment and distribution plant that will serve businesses in the new Dawa Industrial Estate, also on the outskirts of Accra.

The IFC reveals that the transaction with LMI is its first commitment to finance both infrastructure and water development in a special economic and industrial zone in sub-Saharan Africa.

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