Standard Bank And Stanbic Bank Ghana Support Genser’s Growth Ambitions With $325m Loan
Standard Bank And Stanbic Bank Ghana Support Genser’s Growth Ambitions With $325m Loan. Standard Bank South Africa and Stanbic Bank Ghana are proud to have partnered with Genser Ghana Energy Limited to assist the company in raising capital for the next phase of its growth by providing the company with a USD325m syndicated loan facility.
This deal is significant in positioning Genser as an integrated energy company providing energy solutions across the West Africa region. With this financing, Genser will be able to take gas from the upstream that would otherwise be flared and put it back into the Ghanaian economy. The processed gas and associated hydrocarbons will be used as fuel to provide power to homes, LPG to displace kerosene and other more carbon emitting fuels as well as provide natural gas and liquids for the industrial sector.
Genser Energy is an energy solutions provider based in the USA with operations in Africa. The company currently operates in Ghana and also has early stage projects in Burkina Faso, Mali and Guinea. It is actively seeking to expand its operations across the African continent. Genser builds, owns and operates distributed generation installations and natural gas distribution infrastructure, selling power and natural gas to mines, industries and utilities. The company’s operations reflect the firm’s commitment to increasing access to reliable, sustainable and cost-effective electricity and natural gas in Africa. Its long-term ambition is to deliver energy solutions exclusively from low carbon resources.
Standard Bank South Africa and Stanbic Bank Ghana acted as the debt arranger and coordinating bank leveraging its on-the-ground presence and sector specialism to provide a comprehensive financial solution that is best suited to support Genser’s vision and growth ambitions. This transaction allowed the companies to partner with a key local corporate that had few shareholders and a narrow, mainly local capital base and work with them to attract regional pan-African shareholders.
