"Stanbic reassures Uganda on oil and gas financing"

Stanbic Bank says it will give capital for oil and gas developments in Uganda. The bank’s stand comes amidst growing opposition against fossil fuels including oil and gas in favor of renewable energy. Stanbic, part of Standard Bank Group says it can offer up $70 million to a single company investing in the oil and gas sector in Uganda.

The Bank’s Head Of Power and Infrastructure says it is crucial that Ugandan companies get prepared to participate the upcoming developments as oil companies prepare for the flow oil from the Albertine.