STANDARD Chartered has affirmed to fulfill its pledge to realize its mission towards clean energy consumption in Tanzania and the continent at large.

Addressing participants at the just-ended Africa Heads of State Energy Summit in Dar es Salaam, Herman Kasekende, the bank’s CEO in Tanzania said the bank is underscoring its role in advancing sustainable energy and infrastructure projects across the continent.

Kasekende asserted that by collaborating with governments, regulators, private enterprises, and local communities, the bank is driving transformative initiatives aimed at accelerating Africa’s transition to a greener and more connected future.

“We believe in Africa’s potential to lead the global energy transition and are committed to being a catalyst for that progress. Our work in the continent is built on a foundation of trust, collaboration and innovation,” said Kasekende.

According to him, the bank continues to play a pivotal role in addressing critical infrastructure gaps while supporting the continent’s long-term growth and sustainability goals.

He said that in Tanzania the bank has facilitated $1.46 billion in funding for the construction of the Standard Gauge Railway (SGR), connecting Dar es Salaam to key inland regions and neighbouring countries. 

The SGR project aims to reduce transportation costs, increase regional trade and improve connectivity.

He clarified that the bank has already committed to mobilise $300 billion in green and transition finance globally by 2030, with a significant focus on Africa.

“The commitment underscores the bank’s aim to support the continent’s transition to net-zero emissions through investments in renewable energy, sustainable infrastructure, and capacity-building initiatives,” said Kasekende.

On his part, Kariuki Ngari, the bank’s CEO for Kenya and Africa said as Africa embarks on its energy transition journey, partnerships are essential. 

He said the bank is committed to playing its part by collaborating with governments and other private sector players to deliver innovative solutions that drive inclusive growth.

“Together, we are not only addressing today’s energy needs but also laying the groundwork for a greener, more resilient future for generations to come,” said Ngari.

In addition, he said, the bank supports community participation through vocational training programmes and financial literacy workshops to equip local populations to participate in and benefit from the energy value chain.