Standard Bank scoops regional award

STANDARD Bank has emerged the winner of the African Infrastructure Deal of the Year Award.

The award was presented to the bank at the Africa Investor Projects Summit recently held in Lagos, Nigeria. According to the organisers, Standard Bank, which also trades as Stanbic Bank, won the coveted prize for its leading role in underwriting the Gautrain project in South Africa.The Gautrain project is an 80-km rail system, running both underground and over ground for a train designed to travel at a maximum speed of 160 km per hour.The project is the largest infrastructure Public Private Partnership (PPP) ever financed in Africa.This is said to be the largest PPP rail project under construction internationally.The US$500 million private sector funding incorporated in the project includes a well-structured debt funding package.This was arranged by Standard Bank to ensure the optimal balance between risk transfer, shareholder returns and maximising money for the Gauteng Province.It is expected to generate 93 000 jobs during the five-year construction period.Standard Bank has its presence in over 18 African countries, and this year also earned a nomination and commendation in the African Bank of the Year award category.Standard Bank shares the African Infrastructure Deal of the Year Award with Rand Merchant Bank.According to the organisers, Standard Bank, which also trades as Stanbic Bank, won the coveted prize for its leading role in underwriting the Gautrain project in South Africa.The Gautrain project is an 80-km rail system, running both underground and over ground for a train designed to travel at a maximum speed of 160 km per hour.The project is the largest infrastructure Public Private Partnership (PPP) ever financed in Africa.This is said to be the largest PPP rail project under construction internationally.The US$500 million private sector funding incorporated in the project includes a well-structured debt funding package.This was arranged by Standard Bank to ensure the optimal balance between risk transfer, shareholder returns and maximising money for the Gauteng Province.It is expected to generate 93 000 jobs during the five-year construction period.Standard Bank has its presence in over 18 African countries, and this year also earned a nomination and commendation in the African Bank of the Year award category.Standard Bank shares the African Infrastructure Deal of the Year Award with Rand Merchant Bank.