invested in
AFRICA
The Standard Bank Group has made a ZAR250 billion commitment to sustainable finance. Here are some of the highlights of Standard Bank CIB’s recent sustainability-themed deals on the continent.
EDF Renewables
South Africa
AMOUNTZAR10.5 billion
DEALCLOSEDJanuary 2023
Each of the solar PV projects in this deal has entered into a 20-year purchase power agreement with state power utility Eskom, and collectively they are scheduled to deliver 225MW of green energy to the national grid by 2025.
Exxaro
South Africa
AMOUNTZAR676 million
DEAL CLOSEDApril 2023
This 66MW solar photovoltaic plant in Lephalale forms part of Cennergi’s (Exxaro’s energy business) portfolio of renewable energy projects catering to utility-scale and distributed generation clients. The plant will deliver approximately 36% of Grootegeluk mine’s energy requirement.
Scatec
South Africa
AMOUNT ZAR3.8 billion
DEAL CLOSEDJune 2023
Each of the solar PV projects in this deal has entered into a 20-year purchase power agreement with state power utility Eskom, and collectively they are scheduled to deliver 225MW of green energy to the national grid by 2025.
Wilderness
Mauritius and Botswana
AMOUNTUSD80 million
DEAL CLOSEDJune 2023
In an historic first, Standard Bank executed a nature conservation funding deal to support Wilderness’s aim to double the amount of land conserved over the next decade in countries like Tanzania, Kenya, Zambia, Zimbabwe and Rwanda.
Eastcastle DRC
Democratic Republic of Congo
AMOUNTUSD32 million
DEAL CLOSEDJuly 2023
This financing deal will support new telecommunications infrastructure throughout DRC, improving access to the digital economy. A total of USD20 million of the facility has been designated as a social loan to support affordable basic infrastructure in the country.
Government of the Republic of Kenya
Kenya
AMOUNT EUR46.5 million
DEAL CLOSEDApril 2023
This deal enabled the Kenyan Government to raise the equivalent of USD500 million, which will be used to fund various development projects, in line with the development budget approved by parliament. It will boost the country’s infrastructure and create jobs while driving economic growth.
Safaricom
Kenya
AMOUNTKES3 billion
DEAL CLOSEDJuly 2023
This seven-year sustainability-linked loan (SSL) is the largest ESG-linked loan facility ever undertaken in East Africa. It’s also the first of its kind for Safaricom and the first shilling-denominated SLL in the market.
M-KOPA
Kenya and Uganda
AMOUNTUSD202 million
DEAL CLOSEDFebruary 2023
With USD165 million allocated to M-KOPA Kenya and USD37 million to M-KOPA Uganda, this facility – the largest syndicated facility in African fintech sector to date – will enable M-KOPA’s East African customers to buy smartphones and off-grid solar home systems through daily “pay-as-you-go” micropayments.
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