African Development Bank Group and Nedbank Group sign multi-billion-rand funding partnership to transform housing access and boost African trade
South Africa, Dec. 18 -- The African Development Bank Group and Nedbank Group have signed a landmark deal to boost access to affordable housing in South Africa and strengthen trade across the continent. The financing package comprises two components: a ZAR 2.5 billion social bond investment in Nedbank Group Limited and a $60 million trade finance Risk Participation Agreement with Nedbank Limited of South Africa.Together, the initiatives aim to narrow Africa's trade finance gap, accelerate intra-African trade, and improve access to housing-two essential drivers of inclusive economic growth.The social bond is listed on the Johannesburg Stock Exchange, with proceeds channeled through Nedbank's Sustainable Finance Fundraising Framework. Funding...
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