Standard Bank’s work in providing project finance to for the Morupule B power station in Botswana was last week recognised internationally as the “African Power Deal of the Year” by Project Finance International magazine.

This project was the first major transaction involving Standard Bank and the Industrial Commercial Bank of China (ICBC) since the Chinese bank took a 20% stake in Standard Bank in February 2008.

Standard Bank and ICBC were joint lead arrangers on a US$1.6bn debt package for Botswana Power Corporation to expand its plant near Palapye in eastern Botswana. Read more »