Bank drives sustainability with first electric off-road vehicle

Stanbic Bank Zambia has become one of the first financial institutions in the country to introduce a fully electric off-road vehicle into its operational fleet, marking a milestone in the nation’s transition toward sustainable transport.

The Ridarra, a sleek and powerful electric vehicle, now forms part of Stanbic’s line-up, underscoring the bank’s commitment to environmental responsibility and innovation.

Stanbic Bank Zambia Chief Technology Officer – Operations, Wisdom Shanengeta, said the initiative reflected the bank’s belief in purposeful progress.

“We are proud to lead the way in sustainable mobility and to show that innovation can serve both business and the environment. Zambia is our home, and we are committed to driving her growth responsibly,” he said, while thanking Southern Cross Motors Zambia for its partnership.

He said Electric vehicles (EVs) offer notable advantages, including lower running costs and reduced maintenance needs.

The Ridarra can cover between 410 km and 430 km on a single charge at an estimated cost of less than K250, offering significant savings compared to fossil fuels.

Stanbic is also expanding its broader sustainability agenda.

The bank is exploring partnerships with waste management companies to advance recycling and reduce landfill dependence, particularly as it refurbishes its head office into a modern, eco-conscious workplace.

In addition, he said Stanbic had rolled out solar energy solutions at branches in Livingstone, Matero, Mazabuka, Choma, Kabulonga, and Kafue, contributing to decentralised clean energy and community-level environmental benefits.

Southern Cross Motors Zambia Passenger Vehicles Sales Manager, Mushota Lwanga, said:

“The future is electric. Beyond affordability, EVs like the Ridarra reduce servicing costs as they do not require lubricants, making them a more efficient alternative for the long term.”

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