Genser Energy Featured in Standard Bank Group Report to Society 2022

In Ghana, Standard Bank South Africa and Stanbic Ghana acted as the debt arranger and coordinating bank for a syndicated loan for Genser Energy Ghana Limited to support the construction of a natural gas pipeline and processing facilities. Standard Bank Group partnered with the Development Bank of South Africa, Absa, Mauritius Commercial Bank, Ninety One, Barak Fund SPC and Societe Generale to structure a multi-tranched, USD425 million loan facility.

The funding will be used to refinance Genser’s existing debt and support the next phase of its expansion, enabling construction of a 105km natural gas pipeline to Ghana’s second largest city, Kumasi, a gas conditioning plant in Prestea, and a natural gas liquid (NGL) storage terminal at Takoradi Port. The transaction will support Genser’s energy transition strategy.

We are committed to partnering with businesses and other relevant stakeholders to find the right energy solutions to improve and drive Africa`s growth. This transaction enables Genser to take gas from the upstream that would otherwise be flared and direct it back into the Ghanaian economy.

The processed gas and associated hydrocarbons will be used as fuel to provide power to homes to displace kerosene and other more carbon emitting fuels as energy sources and provide natural gas and liquids for the industrial sector. This is imperative for Ghana’s energy transition and climate change goals.”

Sydney Nii Ayitey Tetteh Head, Power & infrastructure, Stanbic Bank Ghana

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