Stanbic Bank Kenya, a member of the Standard Bank Group, has unveiled an enhanced Renewable Energy Proposition, accelerating Kenya’s transition to clean, reliable energy.
The initiative aligns with the country’s sustainability ambitions under Vision 2030 and Universal Electricity Access by 2030, while reinforcing Stanbic’s commitment to ESG-aligned finance.
Strategic Partnership to Drive Clean Energy Access
At the signing of a Memorandum of Understanding (MoU) with Safer Power Limited, a leading EPC firm in the renewable energy sector, Stanbic reaffirmed its role in expanding access to affordable solar solutions for businesses and households.
“Renewable energy is a strategic priority for Stanbic Bank as part of our purpose ‘Kenya is our home, we drive her growth,’” said Florence Wanja, Regional Head, East Africa, Business and Commercial Banking.
“Our partnership with Safer Power represents a shared commitment to enable access to clean energy through innovative financing, advisory services, and strong collaboration with credible players in the sector.”
Flexibility, Affordability, Impact
Stanbic’s redesigned proposition includes:
- Loan tenors of up to 10 years
- Up to 100% financing for eligible renewable energy projects
- Moratorium on principal repayments during development
- Turnover-based lending for SMEs and installations below USD 50,000 (KES 6.5 million)
- No additional collateral for qualifying clients
- Discounted interest rates and NIL processing fees for SMEs
“We are making it easier for businesses and individuals to adopt solar energy solutions,” Wanja added.
Data-Driven Opportunity: Kenya’s Solar Surge
According to KIPPRA and the International Energy Agency (IEA), Kenya’s installed solar capacity surpassed 229 MW by mid-2024, with annual growth projected at 28% through 2027. Solar remains a key driver of Kenya’s clean energy transition and a cornerstone of its ESG strategy.
Technical Support and Quality Assurance
Stanbic’s EPC partners will offer free energy audits to assess client needs and system sizing. All equipment will be sourced from Tier 1 manufacturers, ensuring high performance and reliability.
“Together, we are driving Kenya’s renewable energy transition by combining innovative technology with accessible and flexible financing,” said Dalmus Mbai, Group CEO of Safer Power Limited.
Sustainability Academy: Empowering ESG Knowledge
Stanbic’s business clients also gain access to the Standard Bank Sustainability Academy, a learning platform offering practical ESG insights across:
- Renewable energy solutions
- Climate-smart agriculture
- Water and wastewater management
- Carbon markets and emissions reduction strategies
This initiative supports capacity building and ESG integration across industries, helping businesses align with global sustainability standards.
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