A combination of rising interest rates, depreciating currencies and poor credit ratings make it difficult for African economies to tap into global financial markets to fund their sustainable transition. At the same time, the impacts of climate change are becoming increasingly severe across the continent.
In this fragile context, there is a common understanding that public-private partnerships are essential to mobilize capital flows.
Standard Chartered wins the award for Africa’s best bank for sustainable finance in recognition of its ability to leverage its blended finance expertise to drive capital into sustainable projects and focus on social lending, while managing difficult macroeconomic conditions.
Standard Chartered’s footprint across Africa dates back 160 years and financing sustainable assets across the continent is a core part of its strategy to mobilize $300 billion in green and transition finance to aid the transition to net zero worldwide.
For Lina Osman, regional head of sustainable finance west, which encompasses Middle East, Africa, Europe and the Americas, the focus has been moving capital to where it matters the most.