Visit our COVID-19 site for latest information regarding how we can support you. For up to date information about the pandemic visit www.sacoronavirus.co.za.

bs-regular
bs-extra-light
bs-light
bs-light
bs-cond-light-webfont
bs-medium
bs-bold
bs-black

Community


Share knowledge. Ask questions. Find answers.

Community blog

Read our latest news and views and get to know us better

Stanbic Bank Zambia invests more than US$200 million in the energy sector
SBGroup
Community Coordinator

Sustained economic growth in Zambia makes the demand for clean and renewable energy more critical than ever. The country has been investigating alternative sources of energy as hydro power forms 90% of Zambia's energy supply.

In the past 18 months, Stanbic Bank Zambia has invested more than US$200 million in the energy sector to assist in alleviating the power crisis in the country. The bank has been supporting Zambian government initiatives to find companies that can invest in solar projects.

Zambia energy.jpg
At Standard Bank Group we see the energy sector as a key driver in contributing to sustainable economic development. As a member of Standard Bank Group, Stanbic Bank Zambia is now looking at how best to involve potential developers.

The bank financed the Zambia Electricity Supply Company (ZESCO) in putting up power lines from the country's Southern to North-Western provinces.

This transmission and distribution infrastructure further integrates the North-Western province into Zambia's national electricity grid. 
This is a pivotal move as the province has become Zambia's new copper mining hub, and it aids Copperbelt Energy Corporation's expansion efforts in Zambia. This also includes the development of a second interconnector line into the Democratic Republic of Congo and the construction of a 40MW hydro power plant on the Kabompo River in Zambia.

The sector remains a key focus for the country and the bank. We should soon see an increase in the participation of independent power producers in a country where electricity penetration is low, but where GDP growth is one of the highest in sub-Saharan Africa.

Stanbic Bank Zambia is seen as a key player in the energy sector, and is often called upon by the energy minister to host open forum meetings with the public to discuss alternative sources of power. The team in Zambia is working to ensure that these conversations will become an annual forum, which will draw expertise in the field of energy from across the globe.