Standard Bank trade and Africa-China business and commercial clients executive head Philip Myburgh
Financial services company Standard Bank has announced that it is opening access to a comprehensive and sustainable supply of renewable energy solutions and components to homeowners and enterprises throughout Africa through a new Africa-China Trade Solutions (ACTS) renewable energy import platform.
Using a network of fully vetted international providers from China, business owners and individuals can now source, land and finance accredited solar energy components for any scale of renewable power generation and storage.
“Power will remain a persistent challenge on the continent for the foreseeable future, even for South Africa as the most advanced economy,” Standard Bank trade and Africa-China business and commercial clients executive head Philip Myburgh said on May 23.
He added that it was even more critical than the urgent climate change imperative.
“The greatest push to renewables on the continent is to plug major energy gaps and deliver the critical electricity needed to drive sustainable economic growth. Through this partnership, we are poised to bring significant, consistent and reliable access to the equipment that will support a new independent renewable market, further alleviating the burden on strained State utilities,” Myburgh said.
Through its relationship with financial institution the Industrial and Commercial Bank of China, Standard Bank has been able to leverage its capability to connect with global suppliers in China.
Through Standard Bank’s sourcing partner, clients will now be able to source the right product fit for a variety of applications – commercial, industrial, residential or project-based.
Solutions are tailor-made to suit precise requirements, environmental conditions and power quality requirements, with components sourced from reputable original-equipment manufacturers.
Connecting African importers with Chinese exporters, the ACTS facilitates all trade requirements, from preshipment to post-shipment. In a carefully managed process, suppliers are sourced, prices are negotiated, travel logistics are arranged and the validation of quality of goods is done with the provision of quality guarantees. Any failures are then rectified on behalf of importers by the import partner.
“With China being Africa’s biggest trading partner by far, the ability to foster strong trade routes and economies of scale offers an . . . opportunity to do more than just import goods.
“Through this network, our vision is to create lasting opportunities for aspiring contractors, thus developing technical capacity, skills and sustainable economic growth and value creation over the long-term,” Standard Bank Africa-China trade, business and commercial clients head Luthando Vuba said.
He added that, through a strong pipeline of renewable technology and components, Standard Bank was aligning itself with the United Nations Sustainable Development Goals of limiting carbon emissions, while also fulfilling Standard Bank’s environment, social and governance commitment to achieve net-zero emissions across its operations.