Stanbic IBTC Bank

IFC and Stanbic IBTC Bank, a subsidiary of Standard Bank Group, have structured an $80 million local currency facility to enable off-grid customers to access affordable solar solutions through Sun King in Nigeria. IFC contributed $50 million. The facility will allow Sun King to expand its pay-as-you-go solar financing, improving access to clean, reliable, and affordable electricity for underserved communities. The investment supports the Mission 300 initiative, which aims to connect 300 million people in Sub-Saharan Africa to electricity by 2030. Sun King, in partnership with IFC and Stanbic IBTC Bank, has secured an $80 million, fully Naira-denominated […]

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