Absa Bank Mozambique participated, on Tuesday (30), in the conference "Renewables for Self Consumption in Mozambique" co-organized by the Lusophone Renewable Energy Association (ALER) and the Mozambican Renewable Energy Association (AMER) in partnership with the Industrial Association of Mozambique (AIMO).
The focus of the event was to take an X-ray of the national market potential and demand that can absorb renewable energy, with the main focus on the Commercial and Industrial sector. Moreover, the event aimed to seek a way to sensitize stakeholders to deal with the energy needs of consumers that must be met with renewables.
Absa was represented by the Executive Director of Corporate and Investment Banking, Bernardo Aparício, who reaffirmed his institution's commitment to the sustainable development of Mozambique.
"Through the use of renewable energy sources, there is the opportunity to create other industrial clusters outside of the current large cities, enhancing a much more diversified and comprehensive economic growth [which in turn will provide], more jobs outside of urban areas," Aparicio said, quoted in a press release from the institution.
On the other hand, Absa's Executive Director of Corporate and Investment Banking elucidated the opportunity presented in the renewables sector for banks, not only in terms of growing the loan portfolio, but also in increasing their exposure to key sectors of the economy for which there is credit appetite.
During the conference, the regulatory framework, the advantages and benefits of renewable self-consumption projects, the presentation of case studies and also the topic of financing these projects were presented.
The event was also attended by industry representatives, natural resources and energy sector officials, and other distinguished figures.
Absa Bank Mozambique became the first member of the financial sector in Mozambique to join ALER last October, showing once again its commitment not only to the sector, but mainly to the sustainable growth of the country.