Fostering Green Growth in Africa
Structured financing with positive impact
In August 2022, Orabank Benin, in partnership with the National Agency for Blood Transfusion and the support of the Claudine TALON Foundation, organized a blood donation operation that collected hundreds of pockets of blood to save the lives of many patients in hospitals and health centers: sick children, road accidents, etc. Through this action, Orabank Benin reaffirms its corporate commitment.
In 2022, Orabank Mali was alongside the National Blood Transfusion Center for a blood drive campaign.
- Orabank Mali has handed over a check worth of 1,000,000 CFA francs to the Fondation pour l’Enfance. This donation is a contribution to the expansion of the emergency and resuscitation department of the Mother-Child Hospital Le Luxembourg.
In September 2022, on the Grand Magal of Touba, a delegation from Orabank Senegal visited the religious city to donate thirty-five thousand (35,000) bottles of water, two hundred mats and cash donation. The association Touba ca Kanam, which promotes the development of Touba, and various religious leaders in the city have also received support from the bank.
In October 2022, as part of the new school year, women from Orabank Togo donated food and non-food to Apprentis Orphelins d’Afrique and La Jarre orphanage. A gesture that was supported by the Bank with financial assistance for these structures to support them in their activities. It was in a warm and friendly atmosphere that the children, orphanage officials, and women of the Bank exchanged and shared a snack.
Every year during the holy month of Ramadan, Orabank Mauritania donates food to NGOs. The choice is based on a study of the file and an interview (understanding the involvement and sincerity) with the members of the NGOs.
In 2022, this support amounted to a total of two million CFA francs.
In April 2022, Orabank Mali gave to the Fondation pour l’Enfance, one million CFA francs to finance the expansion of the emergency department and resuscitation of the Mother-Child Hospital Le Luxembourg.
In 2022, to help fight for a lower accident rate in the city of Kougoudou, Orabank Burkina gave the local police mobile roundabouts as well as donations to the city’s fire brigade.
In 2022, Orabank Burkina continued its actions to fund grants to orphans of CNSS and CARFO.
SUNREF project towards a low carbon transition
To promote private investment in energy efficiency in West Africa, the French Development Agency (AFD) is supporting the region’s banks in providing credit for “green” projects under the SUNREF program. West Africa is experiencing an energy crisis that is hampering its economic and social development. Many countries in the region are facing significant challenges due to the growing gap between energy demand, supply capacity, and the low level of investment in the sector. In this context, SUNREF, AFD’s Green Finance Label aims to facilitate access to affordable sustainable energy to ensure the development of a low-carbon economy and to help mitigate the causes of climate change. Through SUNREF West Africa, AFD supports countries in the region that aim to reduce their greenhouse gas emissions and energy dependence on external sources using local resources. All this while promoting sustainable and environmentally friendly socio-economic development.
To maximize private-sector energy consumption, AFD supports green investment projects through SUNREF and encourages West African banks to finance renewable energy and energy efficiency. SUNREF is one of the innovative tools developed by the Agence Française de Développement (AFD) and co-financed with the European Union and the French Global Environment Facility to promote the emergence of “green” finance adapted to the needs of economic actors in transition countries. In partnership with AFD, the Orabank Group financed numerous projects between 2014 and 2018 to support the development of a low-carbon economy in West Africa and enable economic actors to adapt to this transformation. Among SUNREF’s partner banks, Oragroup has been a key partner in this program. Projects funded by Oragroup are located in Togo, Senegal, Burkina Faso, Benin and Niger.
The Orabank Group was able to support the financing of 12 projects generating significant climate benefits, for an overall investment amount of nearly €6 million (CFAF 3.9 billion). Four of these projects concern investments in energy efficiency (purchase and installation of engines, ovens, cooling, air conditioning, more efficient lighting), five in renewable energy (solar), and three projects are mixed, combining energy efficiency and renewable energy. In terms of impacts, these investments allowed annual energy savings of 2,567 MWh, annual renewable energy production of 5,283 MWh, and 1,868 tons of CO2 avoided per year.
2022-02-24
Positive impact
The Orabank Group has set up an environmental and social risk management system (SYMRES) to ensure that lending within the Group is carried out in strict compliance with the ambitions that the Group has set for itself in environmental and social terms through measures to adapt to climate change. As a financial intermediary for economic operators, Orabank is a player in disseminating good practices in the field of sustainable development. Orabank is committed to actions to finance green economies for access to renewable energy and clean water.
A pro-environmental approach ensures a return on investment and a significant impact in the fight against global warming. Orabank finances energy-efficient and energy-efficient projects. In the industrial and hospitality sector, the Orabank Group directs its customers to energy efficiency solutions that generate a 30% to 40% reduction in consumption. This allows customers to reinvest the savings on their bills in their development.
SOTER/PAL Project - Solar Power Plant
The Orabank Group was contacted by the Société des Technologies des Energies Renouvelables (SOTER) as part of a project that aims to significantly reduce the monthly energy consumption bill of the Port Autonome de Lomé (PAL), through the implementation of sustainable and environmentally friendly solutions through) the replacement of SHP projectors and existing lamps with LED projectors and lamps) the replacement of warehouse roofs intended to support solar panels, with aluminum roof sandwich panels) the construction, operation, maintenance, and provision of a 2mW mini photovoltaic solar power plant.
The completion of the Project was backed by a performance contract which will link PAL to SOTER. The total cost of the Project is 2.3 billion FCFA and was financed thanks to the resources available from the SUNREF line. The SOTER project for the benefit of the Poet Autonome de Lomé (PAL) is composed of an energy efficiency measure and a renewable energy production measure. Technical details are presented as follows:
- Replacing current lighting with efficient lighting. The 2,000 linear fluorescent tubes (TFL) with electromagnetic ballast, the 336 exterior projectors, the 159 type 1 street lamps and the 53 type 2 street lamps will be replaced by Diode luminaires and projectors;
- Electroluminescent (LED) to reduce the installed lighting power. This technology is on the one hand more efficient, but it also extends the lifespan of lamps and reduces lighting maintenance costs;
- The energy savings generated by this measure are estimated at 975,759 kWh per year. That’s a savings rate of 65%;
- The installation of a 2,423 MWp photovoltaic solar power plant without self-consumption storage to contribute to the autonomy of the PAL in terms of electricity;
- The measure envisaged by the PAL will make it possible to produce renewable electricity estimated at 3,567,000 kWh. This self-production represents 42% of energy consumption for the reference year, equivalent to an emissions reduction of 1,426,800 tCO2.