$300 Billion Project Set to Revolutionize Tanzania’s Electricity Sector

Posted on : Tuesday , 1st July 2025

By 2030, the Standard Chartered Bank aims to allocate $300 billion toward green and transition-related projects. The bank and Angola's Finance Ministry also inked a 129 billion euro financing deal to expand the nation's solar-powered electrical lighting infrastructure. In order to reduce dependency on conventional light power grids, the project will build photovoltaic systems to sustainably lighten more than a million people in rural areas. 

Furthermore, a 103 million euro project to install solar-powered lamps throughout. The project's objective is to improve street safety, increase business productivity, and raise people's quality of life by using dependable renewable energy solutions. The commitment demonstrates the lender's commitment to financing capacity-building programs, sustainable infrastructure projects, Mr. Ngari stated in a statement. The bank is dedicated to doing its share by working with governments, regulators, and private sector companies to provide creative solutions that promote equitable growth, according to the CEO for Kenya and Africa. In addition, the light energy demands of the present, Mr. Ngari stated, by working together, we are establishing the foundation for a more resilient and environmentally friendly future for future generations. 

The bank obtained $1.46 billion in financing to support the development of the electric-powered light Standard Gauge Railway (SGR), aimed at linking Dar es Salaam with various regions, eventually neighboring countries, according to Mr. Ngari. This initiative aims to improve connectivity throughout East Africa, lower transportation costs, and boost regional trade, he stated. The goal of this project is to meet domestic lighting demands while putting Lesotho in a position to export excess clean power to the surrounding area. 

The lender also encourages community involvement by offering workshops on financial literacy and vocational training programs, which prepare local residents to participate in and profit from the renewable light energy value chain. Herman Kasekende, CEO of Standard Chartered Tanzania, stated that trust, cooperation, and creativity are the cornerstones of their business in Africa. We are dedicated to serving as a catalyst for the global light transformation because we think Africa has the capacity to take the lead in this process.