Stanbic clinches major deal as Morupole expansion`s major financier

source: Sunday Standard
by Sunday Standard Reporter
16.03.2008 7:16:05 P

Stanbic Bank of Botswana has been named as the preferred financial partner for the finding of the initial expansion project which is over P 123 million .

The P 123 million project, which is aimed at making the country energy self-sufficient by 2010, is aimed at expanding the capacity of the Botswana Power Corporation so that it could supply 80 percent of the country’s electricity demands.

The move will fire the power-hungry booming mining sector, which is known for its high consumption of energy but at the same time driving economic growth forward.

Stanbic Bank of Botswana has also been chosen as the arranger of the next government worth around P 5 billion but is sandwiched into some [continue reading]

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