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Africa|Financial|Gold|Mining|Sustainable|Technology|Waste|Waste
Africa|Financial|Gold|Mining|Sustainable|Technology|Waste|Waste
africa|financial|gold|mining|sustainable|technology|waste-company|waste

Caracal secures $1m loan facility

3rd July 2025

By: Sabrina Jardim

Creamer Media Online Writer

     

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London-listed Caracal Gold has secured interim funding of $1-million through a convertible loan facility from a group of lenders comprising existing Germany-based financiers and Gathoni Muchai Investments (GMI) and its clients.

GMI is a Kenya-based investment banking and corporate finance group, committed to driving sustainable growth across key sectors in Africa that extend across mining, property, e-waste recycling, agriculture and the financial technology sectors.

The loan facility is an unsecured convertible loan with an interest rate of 10% a year, accrued and payable in full on the maturity date.

The loan facility has been secured to make payments to key stakeholders in Kenya and to advance the completion of Caracal's prospectus in the UK.

Specifically, this will include payments owing to the Moyoi Community in Lolgorien at the Kilimapesa gold mine; settlements to landowners in Narok County under existing land lease agreements associated with the Kilimapesa gold mine; salary payments to former Kenya-based employees at the Kilimapesa gold mine; payments to other agreed local creditors in Kenya; and costs related to the completion and lodgement of the company's prospectus with the Financial Conduct Authority in connection with its planned re-listing on the LSE.

Caracal says all expenditures will be approved in accordance with its existing financial procedures and policies.

"This interim funding marks a critical milestone in Caracal's strategy to deliver on our commitments to the community at the Kilimapesa gold mine and our key stakeholders in Kenya.

"We are grateful for the continued support from our strategic funding partners and also to GMI, who have demonstrated their backing to the current board and executive management and to the company's gold mine development plans in East Africa, its recapitalisation strategy and aim to have its securities resume trading on the LSE,” says independent nonexecutive director Kevin Warrington.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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