Stanbic Bank on financing sustainable energy & infrastructure in Africa

Africa's energy and infrastructure sectors are crucial drivers of economic growth, with an increasing focus on sustainable solutions. Aboubakar Massinda, Senior VP of Energy & Infrastructure at Stanbic Bank, recently shared key insights on how the bank is supporting the financing of sustainable energy projects across the continent. In an exclusive interview with CNBC Africa, Massinda highlighted the importance of collaboration with governments and private investors to create conducive policies for investment. Stanbic Bank plays a significant role in capacity building and promotes decentralized energy to address the energy needs of African countries. Massinda emphasized the challenges of political stability, long-term investment confirmations, and foreign exchange risks in energy financing. However, the bank offers solutions to assist investors and governments in making projects feasible. Renewable energy, gas, transmission, and distribution infrastructure are among the sectors attracting the most investment in Africa. Massinda pointed out Africa's significant population without access to power or clean water, coupled with a young demographic, making it an attractive investment destination. The recent Energy Summit in Arusha, Tanzania, focused on bridging the gap between policymakers, investors, and regulators to drive sustainable energy projects in Africa. Compacts signed at the summit address key issues such as policies and stability, signaling positive progress towards providing energy access to millions of people in the continent. The future looks promising as stakeholders express optimism about the direction the energy and infrastructure sectors are headed in Africa.