Stanbic Bank Zambia Reinforces Commitment to Mining and Energy Growth through Regional Integration
Stanbic Bank Zambia has reaffirmed its strategic commitment to advancing Africa’s mining and energy sectors through regional integration and private sector-led investment.
The bank demonstrated this commitment by joining its sister institution, Standard Bank DRC, at the 2025 DRC Mining Week held in Lubumbashi.
The event, one of Africa’s leading mining forums, brought together stakeholders from mining, energy, infrastructure, and finance sectors to discuss the future of the Democratic Republic of Congo’s mining industry and its connection to the broader continent.
Stanbic Bank’s participation highlights the wider Standard Bank Group’s ambition to drive sustainable development across Africa by mobilizing capital collaboratively and sharing expertise.
Speaking at the event, Ms. Namakuka Sichone, Senior Vice President for Mining and Metals at Stanbic Zambia, explained that the bank supports mining growth across the Copperbelt and Katanga regions by financing large-scale operations and facilitating cross-border trade.
“As a bank dedicated to driving Africa’s growth, we leverage our cross-border capabilities to connect capital with transformative mining and infrastructure projects,” Ms. Sichone said.
“Zambia and the DRC have much to learn from each other—especially in scaling copper production and modernizing mining systems.”
Last year, Zambia produced over 820,000 metric tonnes of copper, while the DRC’s output rose to 3.3 million tonnes, up from 2.84 million tonnes in 2023. Ms. Sichone noted that Zambia could benefit from the DRC’s recent expansion experience as it strives to meet its production target of three million tonnes annually.
She also highlighted the growing importance of the energy sector in supporting mining operations and regional industrialization.
Zambia continues to supply power to parts of the DRC mining sector, underscoring the critical role of cross-border energy infrastructure and investment.
“Power remains a vital enabler of mining activity. We are increasing investments in renewables and advocating for diversification through hydro, solar, and embedded energy sources,” she stated.
Ms. Sichone referenced Stanbic’s significant investment in the 100MW Chisamba Solar PV Project, developed in partnership with GreenCo and Kariba North Bank, as a model for sustainable public-private collaboration. This project is the largest grid-connected solar development in Zambia’s history.
Stanbic Bank also showcased its cash management facilities at the Kasumbalesa border, facilitating cash collections and deposits for clients conducting physical transactions despite the global trend toward digitization.
“Cross-border capabilities and regional financial services are essential to unlocking value across Africa’s mining belts,” Ms. Sichone emphasized.
She added that Stanbic Zambia, through the broader Standard Bank network, is well-positioned to support clients operating across borders.
Addressing the continent’s growing energy deficit, Ms. Sichone called for an accelerated rollout of renewable energy projects, stressing the need for private sector involvement and regional policy harmonization.
“Homegrown solutions and diversified energy sources are key to addressing SADC’s current power challenges,” she concluded.
