Nov 30, 2016
Standard Bank recently acted as Sole Lead Arranger in the provision of a USD 120m financing package to the Zimbabwe Power Corporation (ZPC). The funds will be used for rehabilitation and expansion works at the Kariba South Hydro Power Station in Zimbabwe and the Hwange Thermal Power Station in Namibia.
Leading the way in power and infrastructure development
Access to energy remains critical to the future growth potential of sub-Saharan Africa, yet power supply remains extremely limited across large parts of the region. This transaction will assist in improving access to power for Zimbabwe and Namibia, and in the medium- to long-term, the benefits of improved power supply and reliability will also extend to other Southern African Power Pool (SAPP) members.
As ZPC’s primary banker, Standard Bank provided the bulk of the financing, in partnership with The Eastern and Southern African Trade and Development Bank (PTA Bank). This transaction is the continuation of a previous funding arrangement with ZPC, which contributed towards the 300MW expansion at the Kariba South Hydro Power Station.
This deal is a further demonstration of Standard Bank’s ongoing commitment to the development of power and infrastructure projects throughout the continent. We are delighted to have delivered a financing solution that will enable ZPC to emerge as a key supplier of power in the Southern and Central Africa region.
Standard Bank’s USD120 million financing deal helps power up energy supply in Zimbabwe. Read MoreBack to all deals
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