Business

Infrastructure projects should attract capital – Stanchart

WORKS on the construction of the Mufuchani Bridge across the Kafue River. PICTURE: MULWANDA LUPIYA

KABANDA CHULU, Lusaka
STANDARD Chartered Bank Zambia suggests that there is need to effectively package infrastructure projects to attract the existing capital from financial institutions in Africa.

Bank managing director Herman Kasekende said there is no funding gap as is widely purported.

“There is plenty of available capital globally; the issue is that infrastructure projects are not well-packaged to attract the capital that exists.
“Multi-lateral agencies and development finance institutions, together with the private sector can help play a part to improve the situation,” Mr Kasekende said in a recent interview.
He said Standard Chartered is playing a key role in advising investors about projects and sharing best practices across multiple markets.
“We use our global contacts to bring in foreign investors including the increasing numbers of Asian investors looking for infrastructure opportunities in Africa.
“We also have a fundamentally role in ensuring that projects are socially and environmentally sustainable and comply with international standards such as the Equator principles, and to help to raise finance for renewable energy projects and clean technology,” he said.
The cost of addressing the continent’s infrastructure needs is forecast at over US$1 billion a year.

 



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