The facility, co-ordinated by Bank of America, Mizuho and SMBC Bank International is Standard Bank Group’s inaugural sustainability-linked loan. The margin on the loan is linked to Standard Bank’s performance against three sustainability key performance indicators (“KPIs”). The KPIs align with the Group’s sustainability strategy and relate to committed financing of renewable energy power plants and social projects in South Africa and across the continent, as well as employee diversity. The facility is structured as a two-year loan with an option for Standard Bank to elect to extend for a further year. Standard Bank is focused, primarily through its sustainable finance division, on providing financial products and services that support positive ESG outcomes, including green and social loans and bonds, sustainability-linked loans and bonds, sustainable trade and working capital solutions and impact investing. Commenting on the facility, Kenny Fihla, Chief Executive for Corporate and Investment Banking at Standard Bank Group said, “The transaction is fully aligned with the Group’s societal, economic and environmental (SEE) impact strategy and will result in positive impact across a number of the identified SEE impact areas – including climate change and sustainable finance.
More Stories
Pope Francis Condemns “Economic Colonialism” as He Arrives in the DRC
Encouraging Signs that Corruption is being Successfully Tackled in Parts of Africa
Zimbabwe’s Political Leaders have a Remedy for the Collapse of the Capital Harare
Botswana Cashs In
Scientists Discover Substances and Concoctions Ancient Egyptians Used to Mummify
Cutting Out the Schlep of Registering Nigerien Children
Football Transfers are a Million-dollar Market for Africa
Less than a Month Before Voting Day, Frustrations are Growing across Nigeria
SA Ports Could Lose Business as Three Mineral Rich States Opt to Use the Lobito Corridor
Bringing to Life the Countless Human Stories of Namibia’s Genocide
Trends for African Students Seeking Education Abroad
Floods and Landslides Batter Madagascar