ACCRA, Ghana, Feb. 14, 2018 (GLOBE NEWSWIRE) — Royal Systems & Services Limited, a Ghana based group of companies, announces that it has entered into a binding commitment letter with Milost Global Inc. under the Mesa Fund 1, a global opportunity fund that is managed by Milost Global Inc. This is for the previously announced $80 million financing facility with Milost. Royal Systems & Services Limited was advised and represented by Palewater Advisory Group Inc.
Samuel Quadjie, Chief Executive Officer, stated, “Royal Systems is enthused by the potential opportunities this financing will bring as soon as realised. It will have huge impact for the strategic direction of our company, particularly breaking barriers to financial and capital intensive industries such as Telecommunications, Real Estate, Oil and Gas, and Mining. Currently we are developing a hostel facility for students of Takoradi Technical University and the interest from Milost is most welcome. The ability to realise this fund will improve not only the returns for our investors over the long term but contribute significantly to the employment and infrastructure deficit in Ghana.”
Managing Partner & CEO of Milost Global Inc., Kim Freeman, stated, “Milost was attracted initially to Royal Systems by their professionalism and values and by the unique building and infrastructure projects they set out to create. We are extremely lucky to have been able to partner with Royal and we foresee a growing portfolio of sustainable projects in future that we would wish to fund. The current hostel build is a much needed facility at Takoradi Technical University which can be duplicated in Ghana and other countries in Africa where education is of utmost importance.”
Solly Asibey, Senior Partner & CIO at Milost Global Inc., stated, “We are very excited about the great potential that Royal Systems presents to Milost. It is a great pleasure to invest …