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Standard Bank aims to lead Africa's energy, infrastructure development

Standard Bank, Africa's largest lender by assets, is intensifying its focus on developing the continent's energy infrastructure, particularly in the realm of renewable energy. The bank is leveraging its position to drive investments in sustainable energy projects, aiming to address Africa's significant energy deficit where over 600 million people lack access to electricity. This initiative includes financing for solar, wind, and hydro projects, as well as supporting the transition from fossil fuels to cleaner energy sources. The bank's strategy involves not only direct investments but also facilitating partnerships and providing financial solutions to mitigate risks associated with large-scale energy projects. This move is part of a broader commitment to environmental, social, and governance (ESG) principles, aiming to foster economic growth while tackling climate change. Standard Bank's efforts are seen as pivotal in transforming Africa's energy landscape, promoting energy security, and supporting the continent's industrialization and urbanization.

Read the Full IOL Article at:
[ https://www.msn.com/en-za/news/other/standard-bank-aims-to-lead-africas-energy-infrastructure-development/ar-AA1ATkYg ]