According to bank provided information, te proposed investment consists of a senior loan of up to US$150 million to Absa Bank Ltd (“Absa” or the “Bank”) (the “Project”). The Project will help Absa to further augment its climate finance business and to support green investments, including renewable energy and biomass in South Africa. The Project will be the first green loan in Africa in compliance with the internationally recognized Green Loan Principles (GLPs).
The Project involves a 3-year senior loan of up to US$150 million.
Absa is the third largest bank in South Africa in terms of assets and has a market share of 21% in loans and 20% in deposits. The Bank is a wholly owned subsidiary of Absa Group Limited (“AGL” or the “Group”), the third-largest financial services group on the continent. AGL provides wholesale and retail banking services, corporate and investment banking, wealth and asset management, and insurance services. Outside of South Africa, the Group is present in 11 countries in Eastern, Southern and Western Africa. In 2019, AGL became one of the founding signatories of the UN Principles for Responsible Banking, committing to strategically align its business with the Sustainable Development Goals and the Paris Agreement on climate change.
Absa Bank Limited
Rolf Van Den Heever
Head of Capital Markets Execution
+27 (0) 11 350 4000
7th Floor, Absa Towers West 15 Troye Street, Johannesburg, 2001 PO Box 7735, Johannesburg, 2000 SA
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