African Potash raises funds to expand footprint

January 12, 2016

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To improve infrastructure and support the development of its revenue-generative trading operations, Aim-listed African Potash placed 48.5-million new ordinary shares at 1.7p apiece to raise £825 000.   “Since turning our short-term attention to trading fertiliser and fertiliser constituents, African Potash has transformed itself from an early-stage exploration company into a business capable of capitalising on the immediate and critical need for fertiliser in sub-Saharan Africa and, in so doing, generating revenues and healthy margins – all within the space of six months,” African Potash executive chairperson Chris Cleverly said. He added that the company’s recent fertiliser trades demonstrated the potential financial rewards for moving into the fertiliser trading market.   “The [new infrastructure will enable] the company to deliver further transactions with additional parties and in new territories,” Cleverly noted.

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