Kush Bank has selected as mandate for Ezra Group and Jedco in the raising of $75 million in capital, signed at South Sudan Oil & Power 2022
JUBA, South Sudan: Coming out of South Sudan Oil and Power (https://bit.ly/3A1hgvV) this week, Kush Bank is proud to announce their selection as mandate for Ezra Group and Jedco in the raising of $75 million in capital for their integrated energy value chain project in South Sudan.
The capital raising will be completed through Kush Bank’s partnership with AIS Capital Advisors of Kenya, and in collaboration with the banks Investment Division, based in Dubai, UAE.
Bringing together logistics, refining, solar energy, and traditional generating power, Ezra Group is once again transforming the landscape of powering South Sudan. The integrated value chain will green up existing generation facilities, add 24 MW of power to the grid, and integrate the supply chain, to utilize crude oil from South Sudan and refine product on site at the generating facility, with an integrated logistics division to transport crude down the Nile River.
“As a national bank that has been operating here for over ten years, we are jumping beyond what people expect us to be operating us. We are moving to embrace more strategic sectors of the economy and one of those is power. Today we are doing two exciting announcements. The first is we are entering into a partnership for capital raising in a formal manner with a firm out of Kenya that has a track record of raising over $1 billion for projects such as what we are raising today,” stated Kush Bank Ag. CEO, Ryan O’Grady, adding that, “Today’s announcement gives us the talent and the track record to be able to work with large-scale projects across the oil and gas sector, demonstrating we have the capacity of what people think a national bank would do.”
Natnael Ghebrengus Ezra of Ezra stated, “Creating a domestic value chain enables us to control costs, deliver power at stable rates, and without interruption. To do that takes international partnerships and investments. Partnering with Kush Bank we are able to tap the global resources and capital needed to continue to grow our business effectively in South Sudan.”
Leonard Mathu, Managing Director, AIS Capital Advisors, continued “Frontier investing takes partnerships with investors who understand the unique landscape of South Sudan, who are ready to come in for the long-term to develop a nation, and truly get the type of sacrifice and grit required to move these large-scale concepts to operational realities. After 15years of moving concepts to reality, I’m thrilled our firm is partnering with an industry leader such as Ezra and Jedco to develop this innovative concept.”
“As a national bank, Kush is looking to go beyond borders, to open doors, and ensure our clients have a full offering of supports to meet their needs. Whether that is access to banking through our digital platform, or the arranging of capital solutions on fair terms, our partnerships and our global team reflect the high level of services we offer, and the results we get for our clients speak for themselves,” added O’Grady.
The partnership will see AIS and Kush Bank work with Ezra Group on securing approximately $75 million in capital to realize their energy value chain project in 2023 through international investors from the private and institutional sectors.
“Here at this conference, we will be announcing $105 million in mandates we have signed, we are developing a domestic energy value chain here in Juba that will develop 24MW of power, it will continue to create an integrated value chain that sees us and our partners moving oil down the Nile directly to local power facilities, putting in a mini refinery and putting it to work. The private sector has been asking for banking partners and now we are here. We are going to chase after them strongly,” concluded O’Grady.