What a load of rubbish2 Apr 2017 18:32
This is taken from their latest operational update:
Project Funding
KEFI’s team continues to work closely with potential lenders who are familiar with Ethiopia, to
facilitate that they complete their due diligence. Formal Government approval processes have
been initiated to allow the financing to proceed.
The Ethiopian Government continues to assist KEFI with these due diligence and other work
required prior to commencement of project development. In the meantime, the State of
Emergency restrictions have, for the most part, been lifted some months ago and its tenor
extended by 4 months.
The Development Bank of Ethiopia remains committed to participate in the debt funding for the
project
The equity requirement for KEFI is targeted at c. US$20 million, after taking all financing
components into account, including mezzanine. But there is no assurance of the final composition
until financial closure
Alternative project funding proposals continue to be negotiated in order to ensure KEFI examines
all reasonable choices for triggering development.