UK equipment provider, Dints International, has agreed to provide supply chain services to a Ghanaian mining operation, thanks to a collaboration between private and public sector financiers and an international law firm.
The UK mining equipment supplier has won a contract to provide vendor managed inventory (VMI) to the Ghanaian subsidiary of South African gold mining giant, Gold Fields, following the agreement of a credit deal that secures finance for the contract.
London-headquartered Dints International will provide Gold Fields Ghana with inventory procurement and management from its network of original equipment manufacturers, allowing it to reduce its procurement costs, increase efficiency and reduce the likelihood of obsolete stock.
The financing provides operational expenditure procurement with deferred payment. In a statement, Dints said the financing provided a model for further investment in Africa by UK companies: “All this can be replicated for Dints’ other customers and comes with the support as UK government looks to encourage more UK businesses to trade with African countries.”
Chief executive of the UK Export Fund (UKEF) Louis Taylor said it was the sort of deal his agency was designed to support: “UKEF’s mission is to ensure that no viable UK export fails for want of finance or insurance, and our ambition is to help exporters win contracts, as well as fulfil contracts already won.”