Head of Financial Advisory & Equity Capital Markets at Stanbic Bank, Isaac Simpson, has emphasized the need for collaboration between the right stakeholders in order to form the necessary policies to accelerate sustainable finance. He made this statement at the 2024 Africa Energy Technology Conference, held at the Labadi Beach Hotel.
Speaking on the topic ‘Bridging the Transitional Investment Gaps: The Role of Policy Formulation in Accelerating Sustainable Finance’, Isaac shared the need for relevant stakeholders to work together to accelerate sustainable financing.
He explained, “Bridging the transitional investment gaps is something I believe can be possible if we have the right partnerships. The process must begin with ideation, where we decide what must be done in the energy space as we transition to sustainable energy. This must be followed by consultation with the relevant stakeholders and create the right policies to make these systems work. After this we can focus on how to enforce these policies and monitor how they work.”
“When we have a simple solution with every player involved, we will be able to relieve the burdens on just policy makers. The responsibilities will be shared across key parties such as the government or the regulatory bodies, members of the private sector and non-governmental organizations. When these groups come together, they can contribute positively to this discussion and come out with favorable policies that will attract more people to join in the transition of our energy to more sustainable solutions. What we need to do is develop the right ecosystem to support this.”, he added.
Mr. Simpson also shed light on some of the initiatives Stanbic bank has in place to support businesses in the energy sector. He said, “At Stanbic Bank, we firmly believe in fostering an environment conducive to minimizing investor risk. There are a number of small-scale companies working in Solar technology and energy who have some investors and there are some actively searching for the right investors to support them.
“We are committed to working closely with these enterprises. In cases where required, we offer prefinancing solutions for their investment projects. We have also crafted innovative financing structures that are uniquely designed for each client or transaction, according to their individual requirements. Whether you are a small-scale company or a large-scale entity, we are ready to provide assistance and collaborate in your journey.”
Standard Bank Group, parent company of Stanbic Ghana has over the years reaffirmed their commitment to sustainable financing. Last year, International Finance Corporation IFC and Standard Bank Group closed a USD 250 million sustainable term loan. Stanbic Bank Ghana and the (IFC) also signed a partnership agreement to mobilize climate financing which was the first in Ghana, to expand access to green financing and improve the quality of life for Ghanaians.
