Standard Bank Africa which operates as Stanbic Bank in Zambia is prepared to finance the construction of the Kafue Gorge Lower Power Project currently under feasibility study.
Standard Bank Africa Executive Officer, Clive Tasker said the bank is prepared to be the lead financier of the project which is expected to cost more than $1 billion.
ZNBC’s Joshua Jere reports from South Africa that Mr. Tasker said that his bank is holding discussions with authorities in Zambia on how it can participate in the project.
Mr. Tasker could not however name the authorities the bank is discussing with but noted that the bank wants to participate in infrastructure development throughout Africa.
Energy Minister, Kenneth Konga recently appealed to the private sector to get involved in financing the development of the Kafue Gorge Lower Power Station.
The station is expected to generated over 750 mega watts of power when commissioned sometime after 2011.
[ZNBC]