Standard Bank to Finance EACOP

Connect with us:

June 18, 2024

South African financial services group Standard Bank will fund the East African Crude Oil Pipeline (EACOP).

“We have done our governance processes internally,” stated Standard Bank Chairman Nonkululeko Nyembezi.

“We have all the lenders,” said Nyembezi, adding that there is “complete commitment on the part of the sponsors of the oil projects to get it done.”

EACOP will transport crude oil produced at Uganda’s oil fields in the Lake Albert region for export to regional and international energy markets via Tanzania’s port of Tanga.

Share This Article

Nicholas Nhede

Nicholas is an energy sector journalist with a passion on how technology and diversification of the energy mix can be used to address energy sector challenges. Nicholas holds a diploma in Journalism and Communication studies and has been covering energy-related topics including the Internet of Things, distributed energy and digitalisation since 2015.