Stanbic Bank Uganda, Uganda’s largest bank and a subsidiary of the Standard Bank Group, Africa’s largest banking group has said that it is still doing its own due diligence on financing of the East African Crude Oil Pipeline (EACOP). However, the bank added that it is as committed to strict adherence to global standards on environment and social safety, as it is committed to a just energy transition. Responding to a question during the just-ended presentation of the bank’s 2023 financial performance, held at the Kampala Serena Hotel on March 25, 2024, Paul Muganwa, the Head of Corporate and Investment…
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Over USD400 million in green investment commitments have been announced for Uganda at the #COP28 in Dubai. These current and committed investments, according to Morris Rwakakamba, the Uganda Investment Authority (UIA) Chairman, will over the next four years, cover renewable energy, water filtration and forestry. These projects include: 24+ off-grid mini-grids by Mandulis Energy: Mandulis Energy develops renewable energy infrastructure using innovative technology that converts agricultural waste into low-carbon electricity and biogas for households and small businesses. The company is to develop 24+ off-grid mini-grids across rural Uganda, each at 0.5MW (scaling to 2MW), to power agricultural processing facilities to serve…
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