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METTLE FORMS PROJECT FINANCE JOINT VENTURE

METTLE (formerly BFS Capital), the specialist financial services company, has formed a southern African project finance joint venture with Taylor DeJongh, a leading international project development and financial advisory firm based in Washington DC. Mettle, in which HCI and BOE each have a 30pc shareholding and management the remaining 40pc, is a niched financial services company specialising in corporate finance, structured products and specialised treasury services. It is well established in South Africa and Namibia, is in the process of setting up operations in Zimbabwe and it is expected that its London office will be operational by January next year. In its three years since inception, mettle has implemented transactions in excess of R7bn and has just announced unaudited attributable profits for the six months ended September of R10m. The objective of the joint venture is to focus on structured debt and investments, cross border structuring, securitisation and project finance.

Source: Citizen