{{Standard Bank Group will accelerate its investments in the \u2018Power Africa\u2019 initiative over the next five years.}}<\/p>\n
lightbulb-jasmeschew-flickrThe Ghana Power Compact is the largest among the Power Africa initiatives. (Image source: James Chew\/Flickr)<\/p>\n
The bank had earlier committed to arrange US$150mn of debt in the near term across the countries that are a part of \u2018Power Africa\u2019. However, it has now agreed to provide US$400mn with principal portions of the money being diverted to projects in Kenya and Nigeria.<\/p>\n
Sim Tshabalala, chief executive of Standard Bank Group, said, \u201cStandard Bank Group will strive to arrange or underwrite at least half of the debt required for these projects.<\/p>\n
As such, our commitment to \u2018Power Africa\u2019 is to help fund an additional US$600mn of debt through 2018.\u201d<\/p>\n
Standard Bank Group officials have stated that they expect more than US$1bn in commercial projects to be realised across the six \u2018Power Africa\u2019 partner countries by 2018, and around US$5bn worth projects from the rest of sub-Saharan Africa.<\/p>\n
Among the projects that are coming up under the \u2018Power Africa\u2019 banner, the Ghana Power Compact (GPC) is the largest. <\/p>\n
It will handle six projects across three areas \u2014 distribution, generation and access to clean energy, according to Standard Bank Group officials. <\/p>\n
The Millennium Challenge Corporation (MCC) has decided to invest up to US$498mn over the next five years while the government of Ghana will contribute an additional US$37mn to the GPC.<\/p>\n
\u201dGPC will make a significant contribution towards putting the country on a sustainable long-term economic growth path and Standard Bank will use its presence in Ghana to support the Power Africa Initiative as well as other power projects across the continent,\u201d added Tshabalala.<\/p>\n
africanreview<\/p>\n","protected":false},"excerpt":{"rendered":"
{{Standard Bank Group will accelerate its investments in the \u2018Power Africa\u2019 initiative over the next five years.}} lightbulb-jasmeschew-flickrThe Ghana Power Compact is the largest among the Power Africa initiatives. (Image source: James Chew\/Flickr) The bank had earlier committed to arrange US$150mn of debt in the near term across the countries that are a part of […]<\/p>\n","protected":false},"author":3,"featured_media":2000053514,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[100],"byline":[170],"hashtag":[],"class_list":["post-15846","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-science-technology","tag-africa","byline-igihe"],"bylines":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"contributors":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"featured_image":{"id":2000053514,"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton15846.jpg","alt":"","caption":"","mime_type":"image\/jpeg","width":0,"height":0,"sizes":{"thumbnail":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton15846.jpg","width":1,"height":1},"medium":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton15846.jpg","width":1,"height":1},"medium_large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton15846.jpg","width":1,"height":1},"large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton15846.jpg","width":1,"height":1},"full":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton15846.jpg","width":0,"height":0}}},"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/15846","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=15846"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/15846\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media\/2000053514"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=15846"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=15846"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=15846"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=15846"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=15846"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}