High-Flying Investor, Kola Karim’s New Endeavour
The stakes are high, and for billionaire businessman Kola Karim, the latest $500 million financing deal could prove pivotal in his ambition to transform Shoreline Group into a truly global
High-achieving businessman Kola Karim has secured a $500 million Islamic financing deal from Qatar Islamic Bank (QIB) to fuel Shoreline Group's growth into a global African energy giant. The funds will be used to boost production at Oil Mining Lease 30 in the Niger Delta, with an ambitious target of surpassing 100,000 barrels per day by the end of 2027.
This bold move comes after Shoreline's output has historically fluctuated between 45,000 and 70,000 barrels per day. The acquisition of the strategically important Trans Forcados pipeline from Shell in 2012 has been central to Shoreline's Nigerian oil ambitions. The QIB transaction is particularly significant due to its source and structure, providing access to Gulf capital while incorporating an Islamic-finance element into a funding strategy typically backed by international investors and African institutions.
Karim's diverse business interests span engineering, infrastructure, power, telecommunications, agriculture, and crude oil, with Shoreline's operations extending into the United States and gas compression infrastructure in the Niger Delta.
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