Standard Chartered showcases key infrastructure projects at Africa energy summit

Dar es Salaam.Standard Chartered has reaffirmed its commitment to driving Africa's energy transition by showcasing its significant infrastructure projects at the Africa Heads of State Energy Summit.

The bank, in collaboration with governments, regulators, and local communities, continues to push forward with projects that not only meet the continent’s energy needs but also contribute to its long-term growth and sustainability goals.

The summit brought together top leaders in Africa’s energy sector, providing a platform for Standard Chartered to highlight its role in supporting the continent’s ambitious green transition.

In a statement, Standard Chartered said that in Tanzania, it has played a pivotal role in securing $1.46 billion in financing for the Standard Gauge Railway (SGR), a major infrastructure project aimed at improving connectivity between Dar es Salaam and key inland regions, as well as neighboring countries.

The SGR is expected to reduce transportation costs, enhance trade, and strengthen economic ties within East Africa.

Meanwhile, in Angola, the bank has partnered with the Ministry of Finance to deliver a €1.29 billion solar electrification project.

This initiative aims to bring sustainable energy to over one million people in rural provinces, reducing the reliance on traditional power grids and advancing energy independence.

In Senegal, Standard Chartered has joined forces with the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) to fund a €103 million solar-powered street lighting project.

This initiative will bring reliable lighting to rural areas, improving safety, extending business hours, and boosting local economies.

In Lesotho, the bank is collaborating with the government to establish the His Majesty King Letsie III Just Energy Transition Fund, which will attract investments for renewable energy projects.

The fund aims to meet domestic energy needs while positioning Lesotho to export surplus clean power to neighboring countries.

Standard Chartered has committed to mobilizing $300 billion in green and transition finance globally by 2030, with a strong focus on Africa. This funding is part of the bank’s broader effort to support Africa’s transition to a low-carbon economy through investments in renewable energy and sustainable infrastructure.

Kariuki Ngari, CEO for Standard Chartered, Kenya & Africa, emphasized the importance of partnerships in Africa's energy transformation.

“As Africa embarks on its energy transition journey, it’s crucial that we work together,” he said. “We are committed to collaborating with governments, the private sector, and local communities to deliver innovative solutions that ensure inclusive growth and a more sustainable future.”

Standard Chartered said it is also focused on empowering local communities, offering vocational training and financial literacy workshops to help them participate in the growing energy sector. These initiatives ensure that communities can fully benefit from Africa’s energy transformation.

Herman Kasekende, CEO of Standard Chartered Tanzania, stressed the importance of trust and collaboration in driving Africa’s energy transition. “We believe in Africa’s potential to lead the global energy transition,” he said. “Our role is to help catalyze that progress through partnerships that build long-term sustainability.”

At the Africa Heads of State Energy Summit, the need for greater collaboration was highlighted as a key factor in overcoming the continent’s energy challenges. Standard Chartered’s ongoing projects and partnerships are helping to lay the foundation for a greener, more resilient Africa.

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