The African Development Bank and Nedbank Group just inked a major two-part deal. It involves a 2.5 billion rand social bond and a 60 million dollar trade finance agreement, both aimed at South Africa and wider continental trade. The bond, listed in Johannesburg, will fund affordable housing, specifically targeting women, first-time buyers, and green building projects. The separate trade pact is designed to backstop Nedbank's work with local banks across Africa, especially in poorer nations, to close the big trade finance gap and boost business between countries.
AfDB director Kennedy Mbekeani called it a key moment in their long partnership with Nedbank, focusing on financial access and better living conditions. Nedbank's CEO, Jason Quinn, said the deal was about creating real impact through sustainable financing for growth and climate goals. The bank's financial sector director, Ahmed Attout, noted this follows earlier support, such as a 2020 green bond investment. The whole package fits the AfDB's broader strategy to push industrialization and regional integration over the next decade.
AfDB director Kennedy Mbekeani called it a key moment in their long partnership with Nedbank, focusing on financial access and better living conditions. Nedbank's CEO, Jason Quinn, said the deal was about creating real impact through sustainable financing for growth and climate goals. The bank's financial sector director, Ahmed Attout, noted this follows earlier support, such as a 2020 green bond investment. The whole package fits the AfDB's broader strategy to push industrialization and regional integration over the next decade.
