Stanbic anticipated energy crisis, shifted focus to client solutions – Lubamba

Stanbic Bank Zambia says its early focus on identifying solutions to the country’s emerging energy challenges helped it respond more effectively as the power crisis intensified.

Stanbic Bank Zambia Head Corporate & Investment Banking, Helen Lubamba, said the bank began tracking developments in the energy sector and exploring possible solutions for clients well before the energy crisis became a major concern in 2024.

Speaking at the Executive Leadership Energy Market session during the Energy Forum for Africa Conference in Lusaka on Wednesday, Lubamba said the experience reinforced the importance of building a learning culture within the organisation, particularly in anticipating market changes and preparing teams to respond to emerging challenges.

“One of the scenes that we’ve been tracking was the energy situation and in looking at solution for clients the question we needed to satisfy was – how are they addressing energy security for their operations?” she said.

Lubamba said the bank’s approach went beyond monitoring the situation, as it also involved building internal capacity and understanding how different energy solutions could be financed.

She said by the time the energy crisis became more pronounced, members of her team had already gained exposure to energy financing and solutions being implemented elsewhere on the continent by Standard Bank .

“In many deal evaluation we had to look at solutioning that addressed any concerns around energy supply,” she said.

Lubamba said Stanbic also exposed some of its team members to developments in other markets to deepen their understanding of alternative energy solutions and how these could be adapted to the Zambian market.

According to Lubamba, the preparation enabled the bank to engage clients from a position of greater understanding when the energy crisis began affecting businesses.

She said the experience also highlighted the need for bankers to change their mindset and move beyond the traditional approach to evaluating businesses for financing.

“The environment has shifted, so we cannot keep thinking in the same way that we have before,” Lubamba said.

She said bankers needed to understand the changing operating environment facing businesses and work with clients to identify solutions particularly already security of energy.

Lubamba said the shift in mindset was particularly important as businesses increasingly faced challenges that required more than conventional funding.

She said Stanbic’s experience demonstrated the importance of anticipating challenges, investing in staff learning and developing solutions before crises fully materialise.

The approach, Lubamba said, had enabled the bank to better understand the needs of clients operating in an increasingly challenging energy environment and in identifying innovative financing structures.

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