Stanbic Uganda: Invest in alternative energy to power Uganda

The Government of Uganda is increasingly supportive of the off-grid solar industry and they have incorporated strategies into the electrification plans and developing regulation to support the private sector players and consumers.
Improved technology that has enhanced performance and cost improvement in solar PV, battery, and appliances also boosts the sector’s potential.

Uganda has provided tax incentives on imported Off-grid solar products and the Uganda National Bureau of Standards (UNBS) has come in to provide support on quality assurance on imported solar components. The private sector also has a role to play in supporting the growth of access to power with Commercial banks taking the lead in contributing to this cause through providing financing and banking solutions to these projects.

Stanbic Bank believes the power sector is a key enabler to economic growth along with social transformation and has continued to finance players within this space. One of the bank’s strategies is to ensure that there is universal access to affordable clean energy by investing in clean sources of power such as solar, wind and thermal.

Full article: US-China Investment News



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