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Standard Bank funds to improve power access for Namibia, Zimbabwe

Xinhua, May 15, 2017 Adjust font size:

South Africa's Standard Bank on Monday announced the finalization of a 120-million-U.S.-dollar debt package with Zimbabwe Power Company (ZPC), which will assist in improving access to power for Zimbabwe and Namibia.

Tandiwe Njobe, Regional Head of Investment Banking at Standard Bank, said in a statement the funds are for the rehabilitation of existing power infrastructure at Zimbabwe's Kariba South Hydro Power Station and Hwange Thermal Power Station.

Njobe said the move will assist in the medium to long-term, benefits of improved power supply and reliability, which will also extend to other Southern African Power Pool (SAPP) members.

Njobe added that to make this transaction work, the bank has engaged with four regulatory bodies and key policy makers in four ministries in Namibia and Zimbabwe.

ZPC has a long track record of delivering power to Namibia's NamPower. Enditem