Environmental activists petition Stanbic Bank over oil pipeline financing
Hardly a week after the East Africa Crude Oil Pipeline holding company announced the first round of debt financing with a consortium of five African and Middle Eastern banks, a group of environmental activists opposed to the construction of the pipeline from Hoima in Uganda to Tanga in Tanzania, due to environmental concerns, petitioned Stanbic Bank Uganda, one of the banks behind the syndicated financing. One of the activists claimed that they delivered their petition, which is addressed to the Chief Executive Director of Stanbic Bank, Mumba Kalifunga. However, some of them were arrested outside the bank's head office at Crested Towers in Kampala.
