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Standard Bank plans to launch renewables fund

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Africa’s biggest lender says it mobilised R55bn for sustainable finance in 2022 ahead of its R40bn target and 2.4 times more than it did in 2021

Standard Bank is planning to launch a renewable energy fund to accelerate the transition away from fossil fuels in the 20 African nations in which the lender has a presence.

Kenny Fihla, the CEO of Standard Bank’s Corporate and Investment Banking unit, made the announcement during a media briefing on Tuesday, though he gave scant details on the plan other than to say the lender plans to launch the fund in partnership with its insurance unit Liberty as well as Stanlib, its asset management arm...

 

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