Standard Bank: Powering Up Africa’s Growth With Us Energy Investments, Collaboration

– Africa is primed for growth, and Standard Bank’s global head of energy and infrastructure said Wednesday that unlocking its energy riches hinges on scaling U.S.-Africa business engagement.

Dele Kuti, at the U.S.-Africa Business Summit in Dallas, said Africa’s untapped resources – from solar and wind to oil and gas reserves – presents unique investment opportunities to help boost economic development, leapfrog outdated technologies and embrace sustainable solutions.

“The key lies in collaboration,” he said before appearing on a panel on international energy alliances. “African governments, global partners like the United States and the private sector can together create an enabling environment that attracts investment and prioritizes responsible development practices.”

He joined other Standard Bank leaders at the Dallas summit, which drew more than 1,500 participants, including presidents and other dignitaries from a dozen African countries, senior Biden administration officials, corporate executives and entrepreneurs.

Standard Bank is a major sponsor of the summit, organized by Corporate Council on Africa to promote greater U.S-Africa trade and investment.

As Africa's leading financial institution, Standard Bank brings to the forefront its expertise in energy financing and strategic insights into the continent’s evolving energy landscape. With a network spanning the African continent and beyond, Standard Bank is uniquely positioned to support energy projects that drive economic development and enhance energy access across Africa.

Kuti said joint partnerships will be crucial to expanding needed infrastructure – from modern power grids to efficient distribution networks.

“A thriving Africa will have a positive ripple effect globally, creating new markets and fostering long-term stability,” he said. “The investment potential for renewable energy projects in Africa is compelling.”

He said cross-collaboration will enhance energy security and sustainability by diversifying Africa’s economy, offering new prospects for international companies and aligning with principles of corporate social responsibility.

And that, in turn, will bolster sustainable projects and reducing carbon emissions through clean energy technologies.

Energy sustainability is not only an environmental priority but also an economic imperative, he said.

“Without energy there cannot be growth. With reliable energy, communities are stronger, industries thrive and the economy is propelled forward,” he said.