Standard Bank CIB played a pivotal role in several high-impact sustainable transactions across Africa in 2023, highlighting its commitment to innovation in green finance, infrastructure development and economic growth.
The bank acted as a joint financial adviser on Vitol Africa’s acquisition of Engen, a R37 billion ($2 billion) transaction that reunited the Engen brand across Africa. The deal, expected to create a pan-African energy champion, represented a significant investment in South Africa, while reinforcing Engen’s commitment to empowering disadvantaged South Africans.
Standard Bank’s strategic advisory role involved complex transaction structuring, shareholder engagement, and the establishment of a broad-based black economic empowerment shareholding structure.
In another highlight, Standard Bank partnered with The African Stove Company (TASC) to finance a carbon credit project. As mandated lead arranger, the bank supported the distribution of 680,000 fuel-efficient cookstoves across rural South Africa. The initiative, which generates revenue from carbon credits, reduces greenhouse gas emissions and improves community livelihoods.
In addition, Standard Bank’s role in Maziv Proprietary’s R25.6 billion debt refinancing marked the largest telecom sector syndication in South Africa.
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