Absa, Stanbic partner in historic R680m sustainable funding deal

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

The recent Vaccination Day in Motokwe, orchestrated through collaborative efforts between UNICEF, USAID, BRCS, and the Ministry of Health, underscores a commendable stride towards fortifying child health services.The painful reality as reflected by the Ministry of Health's data regarding the decline in routine immunisation coverage since the onset of the pandemic, is a cause for concern.It underscores the urgent need to address the...

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