South Africa’s Standard Bank is eyeing investments in the Democratic Republic of Congo (DRC) and Zambia, recognizing the significance of minerals crucial for the global energy shift.
Kenny Fihla, CEO of the bank’s corporate and investment banking unit, emphasized the pivotal role of these countries in providing minerals necessary for the transition towards renewable energy.
Fihla highlighted the potential transformation in the bank’s portfolio, focusing on sourcing minerals vital for driving the energy transition.
He stressed the importance of these minerals for changing the dynamics of their business operations in the DRC and Zambia.
Anticipating substantial growth, Fihla projected the DRC to become one of the primary countries in the Standard Bank group.
However, he also noted that this progression depends on political stability and regulatory consistency in these regions.
Sibanye-Stillwater’s interest in acquiring the Zambian government’s stake in Mopani Copper, previously held by Glencore, signals growing investment prospects.
CEO Neal Froneman expressed confidence in the company’s capability to navigate the complexities of emerging market jurisdictions like Zambia, drawing from their experience in labor-intensive mining and managing social and political pressures.
