Emerging from South Sudan Oil and Power (https://bit.ly/3A1hgvV) this week, Kush Bank is proud to announce its selection as a mandate for Ezra Group and Jedco in raising $75 million in capital for their value integrated energy chain project in South Sudan.
The capital raising will be carried out through Kush Bank’s partnership with Kenya’s AIS Capital Advisors, and in collaboration with the bank’s investment division, based in Dubai, United Arab Emirates.
By bringing together logistics, refining, solar power and traditional generation power, Ezra Group is once again transforming the food landscape of South Sudan. The integrated value chain will green existing production facilities, add 24 MW of electricity to the grid and integrate the supply chain, to use crude oil from South Sudan and refine the product on-site at the production facility, with an integrated logistics division to transport crude on the Nile.
“As a national bank that has been here for more than ten years, we go beyond what people expect of us. We are moving towards more strategic sectors of the economy and one of them is power. Today we are making two exciting announcements. The first is that we are entering into a formal capital raising partnership with a company in Kenya that has a history of raising over $1 billion for projects such as the one we are raising today,” said Kush Bank Ag. CEO, Ryan O’Grady, adding that “today’s announcement gives us the talent and track record to be able to work with large-scale projects in the oil and gas sector, demonstrating that we have the capacity for what people think a national bank would do.”
Natnael Ghebrengus Ezra of Ezra said, “Creating a national value chain allows us to control costs, provide electricity at stable rates and without interruption. This requires international partnerships and investments. By partnering with Kush Bank, we are able to tap into the global resources and capital needed to continue to effectively grow our business in South Sudan.
Leonard Mathu, Managing Director, AIS Capital Advisors, continued, “Frontier investing requires partnerships with investors who understand the unique landscape of South Sudan, who are prepared to go in the long term to build a nation and truly get the type of sacrifice. and the courage to take these concepts at scale to operational realities. After 15 years of turning concepts into reality, I am thrilled that our company is partnering with an industry leader such as Ezra and Jedco to develop this innovative concept.
“As a national bank, Kush seeks to reach beyond borders, open doors and ensure our customers have a full suite of supports to meet their needs. From accessing banking services through our digital platform to providing capital solutions on equal terms, our partnerships and our global team reflect the high level of service we offer, and the results we get for our clients speak for themselves,” added O’Grady.
Under this partnership, AIS and Kush Bank will work with Ezra Group to secure approximately $75 million in capital to deliver their energy value chain project in 2023 through international private sector investors and institutional.
“Here at this conference we will be announcing mandates of $105 million that we have signed, we are developing a home energy value chain here in Juba that will develop 24MW of electricity, it will continue to create a chain of integrated value that sees us and our partners transporting oil down the Nile directly to local power plants, installing a mini refinery and commissioning it.The private sector has asked for banking partners and now we are here.We will chasing after them heavily,” O’Grady concluded.
Distributed by APO Group for Energy Capital&Power.