For many, simply having electricity 24/7 is a given…and expected. This is not the case in many countries. For those living in such countries, power blackouts are part of life and something that they have learned to live with.
The private sector plays an important part in partnering with other public bodies to help develop power infrastructures.
In Malawi, for example, Standard Bank partnered with the Millennium Challenge Account (MCA) Malawi to sponsor in 2010 the first-ever power conference in the country.
The two-day event, involving investors and the public and private sector, created a common platform to find a lasting solution.
The conference tackled investment opportunities in power and the bank’s investment banking unit demonstrated its readiness to partner with key stakeholders to help address problems. Delegates heard how Standard Bank Group has financed power projects such as the Moropule Power B station in Botswana, and that the same was possible for Malawi.
A committee drawn from key stakeholder organisations has since been formed to map the way forward.
In Nigeria power disruptions happen daily and can last for hours on end.
Stanbic IBTC Bank, Standard Bank Group’s business in Nigeria, donated a 250KVA power generator to the Yaba Institute of Technology in Lagos. This means students can now continue their lessons through power outages.
We understand the role we play in connecting the right parties to make a positive impact on such communities. For more about our sustainability agenda, read
www.standardbank.com/sustainability. See
www.stanbicibtcbank.com for details of our business in Nigeria and
www.standardbank.co.mw for Malawi.
