Standard Bank Group Chief Executive Officer Sim Tshabalala said the benefits of an oil pipeline, the continent’s biggest lender, is funding in East Africa outweigh the environmental risks.
TotalEnergies SE’s $5 billion 1 443-kilometer (897 mile) East African Crude Oil Pipeline being built to transport landlocked crude in Uganda to the coast for export has faced resistance from environmental groups that scrutinised potential lenders. Opponents have included Ugandan activists, European Parliament members and environmental groups.