Rawbank, the largest bank in the Democratic Republic of Congo (DRC) by assets and business volume, has helped a local mining company in Katanga province secure up to $10 million in funding. The identity of the mining company remains undisclosed.

“This transaction reinforces our leadership in the DRC’s banking sector and underscores our commitment to supporting the country’s economic development,” said Rawbank Managing Director, Mustafa Rawji. 

This is not the first time Rawbank has supported the mining sector. In 2022, the lender led a $200 million syndicated financing package for Kamoa-Kakula, the operator of one of Africa's largest copper deposits. However, this time, Rawbank has introduced new perspectives regarding business financing. 

The recent operation features commercial papers—a type of debt security typically reserved for highly credible companies with a strong ability to repay. To further reassure participating investors, Rawbank provided a corporate guarantee. This means that if the borrower struggles to settle its debt, an affiliated company will repay in its stead in due time. 

“This second commercial paper issue demonstrates Rawbank's ability to innovate and meet the specific needs of its institutional clients. The bank's trading room, which adheres to international standards, allowed for optimal structuring of the operation, offering investors superior yield opportunities in a competitive market,” said Rawbank Commercial Director, Etienne Mabunda.

Rawbank places significant emphasis on the mining sector, which accounts for 70% of the DRC's exports. “By providing a national operator with competitive financing, this new issue contributes directly to boosting regional economic activity and investor confidence while stimulating local savings through attractive financial products,” the bank said in a press statement.

GAB