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Absa, Stanbic partner in historic R680m sustainable funding deal

Friday, February 16, 2024 | 500 Views |

Pen to paper: Stanbic, Absa and Norsad officials at the signing on Monday PIC: MBONGENI MGUNI

Absa Bank Botswana and Stanbic Bank Botswana have partnered to lend sub-Saharan credit firm, Norsad, R680 million to support financial inclusion as well as women and youth programmes, under a historic sustainable-linked funding arrangement.

The deal unveiled on Monday was at least two works in its arrangement and represents the first sustainable-linked funding developed in the local market. Sustainable funding refers to financing linked to the borrower’s pursuit or attainment of Environmental, Social, or Governance (ESG) targets.

Typically, such funding is incentivised in terms of the cost of funding and is tightly monitored for impact by the lenders.

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Absa, Stanbic partner in historic R680m sustainable funding deal

Absa Bank Botswana and Stanbic Bank Botswana have partnered to lend sub-Saharan credit firm, Norsad, R680 million to support financial inclusion as well as women and youth programmes, under a historic sustainable-linked funding arrangement.

Human rights are sacred

Bakgatla Ba Kgafela celebrate as Kgosi Kgafela’s charges are dropped

First Lady's office hosts second annual thanks giving ceremony

PSLE performance on upward trend

Bona Life tee-off Maruapula Loxion Golf journey

Cops arrest young man, seize dagga in Metsimotlhabe

Second Mogoditshane rape attack in two weeks

Suspected suicide behind Sir Seretse Khama Barracks

Human rights are sacred