Stanbic Bank Boosts Zambia–DRC Mining and Energy Integration
Stanbic Bank Zambia has reaffirmed its strategic commitment to the growth of Africa’s mining and energy sectors through regional integration and private sector-led investment, as it joined its sister institution, Standard Bank DRC, at the 2025 DRC Mining Week in Lubumbashi.
The event, one of Africa’s premier mining forums, attracted stakeholders from mining, energy, infrastructure, and finance to discuss the future of the DRC’s mining industry and its connection to the rest of the continent. Stanbic Bank’s participation reflects the broader Standard Bank Group’s ambition to drive sustainable development across Africa through collaborative capital mobilization and knowledge exchange.
Speaking at the event, Ms. Namakuka Sichone, Stanbic Zambia’s Senior Vice President for Mining and Metals, said the bank is enabling mining growth across the Copperbelt and Katanga regions by financing large-scale operations and facilitating cross-border trade.
“As a bank committed to driving Africa’s growth, we are leveraging our cross-border capabilities to connect capital with transformative mining and infrastructure projects,” Ms. Sichone stated. “Zambia and the DRC have much to learn from each other—especially in scaling copper production and modernizing mining systems.”
Zambia recorded over 820,000 metric tonnes in copper production last year, while the DRC produced 3.3 million tonnes, up from 2.84 million tonnes in 2023. Sichone noted that learnings from the DRC’s expansion could help Zambia work toward its own production targets of three million tonnes annually.
Ms. Sichone also emphasized the growing role of the energy sector in sustaining mining operations and regional industrialization. She noted that Zambia continues to supply power to parts of the DRC mining sector—a development that highlights the importance of cross-border energy infrastructure and investment.
“Power remains a key enabler of mining activity. We are increasing our investments in renewables and advocating for diversification through hydro, solar, and embedded energy sources,” she said.
She referenced Stanbic’s milestone investment in the 100MW Chisamba Solar PV Project—developed in partnership with GreenCo and Kariba North Bank—as a model for sustainable private-public collaboration. The project is the largest grid-connected solar development in Zambia’s history.
Stanbic Bank also spotlighted its cash management facilities at the Kasumbalesa border—facilitating cash collections and deposits for clients transacting physically, despite the ongoing global shift toward digitization.
“Cross-border capabilities and regional financial services are essential in unlocking value across Africa’s mining belts,” Ms. Sichone explained, adding that Stanbic Zambia, through the wider Standard Bank network, is well-positioned to support clients operating across borders.
Addressing the continent’s growing energy deficit, she called for an accelerated rollout of renewable energy projects and emphasized the need for private sector participation and regional policy harmonization. “Homegrown solutions and diversified energy sources are key to solving SADC’s current power challenges,” she said.
