Standard Bank pumps in K7.5m towards energy conference

Standard Bank has pumped in K7.5million towards the energy conference organized by Renewable Energy Industries Association of Malawi (REIAMA) scheduled to take place on 26-27th October, 2023 in Salima.

The conference will be discussed under the theme: Energy Diversification for Sustainable Development.

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Speaking during the cheque presentation on Monday in Lilongwe, Standard Bank Chief Executive Officer, Phillip Madinga, said, as the bank, they believe in what the association is doing to bring together ideas on how to develop the energy sector.

“We feel that the role the association is taking is very important to promote issues on renewable energy,” he said.

As a bank, he said, they expect to have an exciting discussions as it brings together some key policy actions that can help individuals, private and public sector.

REIAMA Board Treasurer, Brave Mhone commended the bank for the timely donation towards the conference.

“The forum is critical as it brings together various players to brainstorm and come up with tangible action points that the country need to take to realize the development agenda,” he said.

Mhone said the Malawi 2063 vision is talking about industrialization, transforming Malawi to middle class economy but all this to happen: “energy consumption has to be very huge.”

Adding that Malawi need to produce adequate energy to distribute it to where it is needed to spur development through increased productivity.

Moyo further said the country need adequate and sustainable energy because currently the country is relying on hydro produced mostly in southern region saying when natural disasters hit the country gets affected alot.

‘This is the time to think beyond just producing enough but diversifying the sources as well as the centres where the energy is produced so that at the end the country achieve resilience in terms of energy and power sector in Malawi,” he observed.

However, Minister of Energy Ibrahim Matola is expected to open the conference.