Sydney Nii Ayitey Tetteh, Head, Client Coverage, Corporate and Investment Banking, Stanbic Bank Ghana
Gas is driving Ghana’s industrial transformation – and Stanbic Bank Ghana is at the centre of it, financing the infrastructure that powers its progress.
As African countries pursue sustainable economic transformation, Ghana stands out for its strategic use of energy resources to drive industrialisation, stimulate job creation, and build resilience in key sectors.
At the heart of this transformation is natural gas, increasingly seen as the bridge between fossil fuels and a greener, more sustainable energy future. In this evolving landscape, Stanbic Bank Ghana has emerged as a proactive partner – mobilising capital, technical expertise, and long-term vision to support Ghana’s industrial ambitions.
“Energy is the backbone of any industry,” says Sydney Nii Ayitey Tetteh, Head of Energy and Infrastructure at Stanbic Bank Ghana.
“Without reliable, affordable power, we cannot reduce poverty, expand industrial output, or modernise agriculture.”
Ghana’s installed power capacity stands at approximately 5,400 megawatts, with thermal energy contributing over 60%.
Much of this is now generated from natural gas, which has become the backbone of Ghana’s drive for cleaner, more reliable energy.
Stanbic Bank Ghana has invested more than $1.1 billion in Ghana’s mining, metals, and energy sectors over the past five years.
Over $200 million of this supports captive power plants – off-grid energy systems that provide stable electricity to mining companies, insulating them from grid unreliability.
“Even a one-hour disruption at a mine can cost millions,” Sydney notes. “We are here to ensure that never happens.”
Gas as a growth enabler
Stanbic Bank’s support goes beyond simply financing power plants. The bank has played a critical role in funding energy infrastructure projects such as the KSS pipeline and Genser Energy’s gas systems, which channel gas directly to industrial users.
These pipelines have been deliberately routed through key manufacturing corridors, enabling access to clean and affordable energy for local industries. Along the way, they are also stimulating agricultural activity, reducing emissions, and improving productivity by replacing expensive diesel with more efficient and sustainable alternatives.
The result is a multiplier effect that supports Ghana’s broader development goals: boosting local production, reducing reliance on imports, creating jobs, and easing foreign exchange pressures.
A region connected by energy
Beyond Ghana’s borders, the impact is growing. With its natural gas infrastructure in place, Ghana has started exporting gas-generated electricity to Côte d’Ivoire, creating regional revenue streams and reinforcing its role as an energy hub in West Africa.
This growing regional integration highlights the critical role energy plays in both national development and in strengthening West Africa’s economic cohesion.
Stanbic Bank Ghana is not just investing in the present – it is actively preparing for the future. Underpinned by its Environmental, Social, and Governance (ESG) commitments, the bank has pledged to reach net-zero emissions across its lending portfolio by 2050.
In support of this goal, it is already exploring transition finance, green bonds, and innovative financing models that help industrial clients make the shift toward sustainable energy solutions – without compromising reliability or economic competitiveness.
This approach aligns with Ghana’s national agenda, including the ‘Big Push’ infrastructure programme and the goal of building a 24-hour economy powered by stable, affordable energy.
A development partner
Stanbic Bank’s role goes beyond providing loans. The bank offers strategic financial advisory, project structuring, and public-private partnerships that unlock opportunities across sectors.
Whether supporting dual-fuel conversions of thermal plants, financing gas transport infrastructure, or advising on cross-border energy trade agreements, Stanbic is embedded in Ghana’s growth story.
As Sydney puts it, “We are committed to helping Ghana grow. Gas may not be the final destination, but it is the solid foundation we need now to build a resilient, industrial future.”
To learn more about how Stanbic Bank Ghana is driving industrial and economic transformation, visit www.stanbicbank.com.gh
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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
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