As Africa’s mining landscape shifts toward stricter environmental stewardship and more rigorous mine-closure obligations, a new partnership is reshaping how the continent approaches financial assurance. Credeq Africa (Pty) Ltd, an authorised Financial Services Provider underwritten by Lombard Insurance Company, has partnered with Access Bank to deliver a pioneering, mining rehabilitation guarantee designed for Africa’s evolving regulatory environment.
The African mining sector will grow to roughly USD 847 billion by 2026, according to a report from Verified Market Research. As mining expands, regulators across the continent are tightening governance frameworks around mine closure and rehabilitation funding. Countries such as Botswana and Zambia now require mining companies to furnish financial guarantees to ensure sufficient funds are preserved for mining rehabilitation. While these guarantees support environmental protection and responsible mine closure, they also create financial strain: traditional bank-issued guarantees consume valuable credit lines that mining companies would prefer to reserve for operational growth or capital projects.
By partnering with Access Bank, which has an extensive local footprint, regulatory insight and relationships across key mining jurisdictions in Africa, Credeq Africa, as the UMA, and Lombard – as the insurer, can offer a compliant, insurance-backed solution that meets local rules while delivering mining companies greater financial flexibility.
“The partnership with Access Bank is really a match made in heaven,” explains Juanita Putter, Manager: Mining Guarantees at Credeq Africa. “They bring the in-depth local knowledge and relationships needed to navigate regulatory requirements, and we bring the underwriting expertise developed over more than two decades. Together, we offer mining companies a solution that provides compliance and financial flexibility.”
