Visit the official COVID-19 government website to stay informed: sacoronavirus.co.za

African Development Bank invests R2billion in sustainable development goals

The African Development Bank Group has invested R2 billion in Sustainable Development Goals-linked bonds (SDG bonds) issued by Nedbank South Africa.

This investment, listed on the green bonds segment of the Johannesburg Stock Exchange, will strengthen Nedbank’s capital base and enable it to generate R12 billion in new loans and investments in environmentally friendly and climate-sensitive projects in areas such as renewable energy and affordable housing.

sustainable development goals Africa
This investment will help accelerate the recovery of the economy after the slowdown caused by the COVID-19 pandemic

First of its kind in Africa

This SDG-linked Tier 2 bond issuance, the first of its kind in Africa, is expected to benefit the South African economy through the creation of over 6 000 new jobs and nearly 20 000 SME loans, in addition to catalysing around R4 billion in additional investment in clean energy, which will help South Africa’s efforts to transit away from coal-generated power over the next 10 years.

The investment also promotes financial inclusion for underserved segments of the populace, such as women and rural dwellers, and will lead to around R2 billion in new SME loans over the next five years.

Notably, several thousands of unbanked persons across southern Africa will benefit from financial inclusion through Nedbank’s low-cost digital financing initiatives.

Injecting investment

Stefan Nalletamby, the African Development Bank’s Director for the Financial Sector Department, says: “We are very pleased to be able to support the South African economy by injecting investment into the private sector through a responsible and trusted partner who is committed to responsible investing. This investment will help accelerate the recovery of the economy after the slowdown caused by the COVID-19 pandemic.”

The facility is aligned with the African Development Bank’s Ten-Year Strategy 2013-2022, which emphasizes green and inclusive growth. It is also in keeping with the Bank’s High 5 priorities:

· Light up and Power Africa

· Feed Africa

· Industrialise Africa

· Integrate Africa

· Improve the lives of African people.

Nedbank is one of South Africa’s four largest banks by assets, with a market capitalisation in excess of R100 billion and total assets of approximately R1 trillion. The Bank employs over 29 000 workers. The group has a presence in Namibia, Swaziland, Mozambique, Lesotho, Zimbabwe, as well as representative offices in Angola and Kenya. Nedbank also holds a 21% stake in the pan-African banking group Ecobank. Importantly, Nedbank has been a market leader in sustainability and responsible lending.



Latest


03 Aug 2020
Every South African can be an eco-warrior

Each year, the local plastics industry welcomes the arrival of Spring and warmer weather by encouraging citizens to help make…

Every South African can be an eco-warrior

Each year, the local plastics industry welcomes the arrival of Spring and warmer weather by encouraging citizens to help make a difference where they live, work, learn or play by participating in Clean-Up & Recycle SA Week. Clean-Up & Recycle SA Week is an annual public awareness week during which…

03 Aug 2020
Professor PLO Lumumba to speak at ground-breaking supply chain conference

Renowned Kenyan pan-Africanist, Professor of Law and anti-corruption crusader, Patrick Loch Otieno Lumumba, has been confirmed as the opening keynote…

Professor PLO Lumumba to speak at ground-breaking supply chain conference

Renowned Kenyan pan-Africanist, Professor of Law and anti-corruption crusader, Patrick Loch Otieno Lumumba, has been confirmed as the opening keynote speaker at the upcoming “Africa Supply Chain in Action” (ASCA) event, Africa’s biggest ever virtual conference for supply chain and procurement professionals. Hosted by SAPICS (The Professional Body for Supply…

03 Aug 2020
The future of collaborative robots

BY: Maciej Kuczynski Omron Collaborative robots that can work safely in the same environment with people have an important role…

The future of collaborative robots

BY: Maciej Kuczynski Omron Collaborative robots that can work safely in the same environment with people have an important role in enabling flexible manufacturing and creating a competitive advantage. A new generation of ‘cobots’ is emerging as the evolution of classical industrial robots in response to the needs of Industry…

31 Jul 2020
Rwendzori Bottling Company invests in new PET line from KHS

With the help of high-quality, efficient KHS technology the sales of packaged water in Uganda is climbing to ever new…

Rwendzori Bottling Company invests in new PET line from KHS

With the help of high-quality, efficient KHS technology the sales of packaged water in Uganda is climbing to ever new heights. Awareness of the responsible use of resources is growing – an example that could set a precedent. At 5 109 meters above sea level Margherita Peak in the Rwenzori…


Top stories


18 Mar 2020
Avocado growers celebrate the ancient history of avos this season

According to the THP 2020 Flavour & Trend Forecast*, Michelin star restaurants around the world will be increasingly seeking out…

Avocado growers celebrate the ancient history of avos this season

According to the THP 2020 Flavour & Trend Forecast*, Michelin star restaurants around the world will be increasingly seeking out traditional ingredients from some of the oldest civilizations this year, particularly Central and South America.

18 Mar 2020
Limpopo residents become eco-warriors

Residents in northern Limpopo are becoming eco-warriors thanks to a new campaign which aims to see environmental waste reduced and…

Limpopo residents become eco-warriors

Residents in northern Limpopo are becoming eco-warriors thanks to a new campaign which aims to see environmental waste reduced and much-needed jobs created.

17 Mar 2020
Fry’s and Livekindly bring tasty and sustainable plant-based food to the world

The Fry Family Food Co. has joined forces with the Livekindly co.

Fry’s and Livekindly bring tasty and sustainable plant-based food to the world

The Fry Family Food Co. has joined forces with the Livekindly co.

07 Feb 2020
Deli meat producer creates SA’s first plant-based sandwich slices

Feinschmecker Deli Meats, who have built up a formidable reputation as the market leader in speciality deli meats in South…

Deli meat producer creates SA’s first plant-based sandwich slices

Feinschmecker Deli Meats, who have built up a formidable reputation as the market leader in speciality deli meats in South Africa, has launched a range of plant-based sandwich slices under the brand name Gudness. It is the first range of its kind produced in SA.