Burkina Faso's gold industry is set to decline, says the CEO of West African Resources. Boukary Diallo has attributed the downfall to militant ... attacks that have intensified this year as well as Russia's Nordgold shutting the Taparko mine in April.
The company is seeking to raise about N30bn ($68m), comprising N20bn in debt and N10bn in equity. The debt, which will be in two tranches of N15bn and N5bn, will be used to expand, while the equity from the IPO will be used to keep leverage down.
Talks with Infracredit are “close to closure,” Agboola says. The IPO, for which Kairos Capital is the lead issuer, opened on 21 November and runs until 23 December.