Standard Chartered has reaffirmed its commitment to using blended finance solutions to help close Africa’s growing infrastructure deficit, estimated at US$130 billion annually.
Speaking at the just-concluded Africa Debate in London, UK, Kariuki Ngari, Managing Director and CEO of Standard Chartered Kenya and Africa, emphasized that Africa cannot meet its infrastructure needs through public funding alone.
“The proof of blended finance is evident in our results across Africa,” he said. “When properly structured, blended finance unlocks commercial capital while preserving market integrity. We have moved beyond theory to proven models that deliver transformative impact.”
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To bridge the infrastructure gap, Standard Chartered is partnering with local governments and multilateral development institutions. These collaborations aim to de-risk projects and encourage the inflow of private capital into African economies.
In 2023, the Bank financed infrastructure projects worth over US$4 billion, including several that used blended finance models.
Among them was a EUR 533 million facility, backed by the African Development Bank, for Côte d’Ivoire’s Ministry of Finance and Budget. The funds supported key developments under the country’s 2021–2025 National Development Plan.
In Angola, the Bank helped fund a €1.29 billion solar-powered electricity distribution programme to expand rural access to clean energy.
In Tanzania, it structured a US$1.46 billion term loan for a 550-kilometre Standard Gauge Railway. This project is set to enhance regional trade and reduce freight costs by up to 40%.
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Kariuki Ngari noted that the Bank is not waiting for ideal conditions but is instead building financial structures that attract long-term investors.
“Our role is to connect ambition with capital and ensure Africa’s most critical projects are bankable, scalable, and sustainable. We now need replicable frameworks to attract institutional capital into sectors like climate-smart infrastructure and value-added manufacturing, where the continent’s future truly lies.”
Standard Chartered has also increased its focus on climate finance. The Bank aims to support projects that promote clean energy, reduce carbon emissions, and build climate resilience across the continent.
Globally, it has committed to mobilizing US$300 billion in sustainable finance by 2030.
The Africa Debate serves as the UK’s leading forum for dialogue on African investment and economic transformation.
It brings together heads of state, global investors, policymakers, business leaders, and thought leaders to shape the continent’s future development agenda.
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