Private sector investment in Nigeria’s power grid

February 6th, 2014, Published in Articles: Energize

 

Standard Bank has helped to fund three power deals with the Nigerian government. These form part of the country’s seven power generating companies and its eleven electricity distribution firms, created out of the Power Holding Company of Nigeria. The first two deals, concluded by Standard Bank South Africa, involved the Federal Government of Nigeria selling a 60% equity shareholding in the Abuja Electricity Distribution Company to a consortium. The third deal was concluded by Stanbic IBTC, a member of Standard Bank group, acting as the financial advisor and debt provider to facilitate the sale of 60% equity shareholding in the Benin Electricity Distribution Company to Vigeo Power Limited. The Power Africa Initiative is a major undertaking by the Governments of the United States, Kenya, Ghana, Tanzania, Nigeria, Ethiopia which is aimed at increasing access to clean and reliable power and spur new investment in Africa’s power sector.

Contact Ross Linstrom, Standard Bank, Tel 083 262-1882, ross.linstrom@standardbank.co.za

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