In Africa, Societe Generale (SocGen) has been a pioneer in sustainable financing. SocGen financed infrastructure projects include the construction of new bridges to relieve traffic, onshore wind projects, solar power plants, automated toll booths for existing road networks, sustainable water and wastewater management, and health care facility development. With its network of national and international actors, training programs, and specialized financial products, it aids African small and medium-sized businesses (SMEs).

With the objective of reaching net zero by 2050, Nedbank wants to be at the forefront of managing climate change risks by funding effective, creative solutions. The bank distributed SLBs with embedded effect indicators and performance goals worth USD.766 million in 2022. One such instance is the USD.87.2 million green bond issued by Nedbank for Redefine Properties, which supports environmentally friendly structures and is traded on the Johannesburg Stock Exchange’s (JSE) Sustainability Segment.

Outstanding Leadership in Transition/Sustainability-Linked Loans

In 2022, the bank had a 57% increase in sustainable finance loans and bonds and executed 28 sustainable finance loans, totalling USD.2.7 billion, that include a few firsts for the region. One example is the $306 million sustainability-linked facility to Grit Real Estate Income Group, which restructures the existing debt exposure in Mozambique, Mauritius, Senegal, Ghana, and Zambia to create a balanced solution over a diversified security pool.

Outstanding Leadership in Sustainable Infrastructure Finance

Absa Group, a provider of pan-African financial services, has backed several infrastructure initiatives as part of its mission to lead Africa’s transition to a sustainable energy economy. These include renewable energy initiatives across the continent, one of which assisted Eskom, a South African public power provider, to integrate renewable energy resources into the national grid in order to satisfy the goals of sustainable development and the country’s energy transition.

Outstanding Leadership in Green Bonds 

Outstanding Leadership in Social Bonds 

Outstanding Leadership in Transition/Sustainability-Linked Bonds

With some of the bigger 2022 issuances and a few firsts, RMB’s sustainable finance team has established itself as a market leader in Africa. These include the first-ever issue of a gender-linked bond in Africa for Barloworld, a firm that provides industrial processing, distribution, and services. This bond has KPIs that promote gender diversity within the company’s ranks and increased representation of Black women-owned businesses in its supply chain. Additionally, the bank raised USD.107 million for its parent, FirstRand Bank, by issuing the country’s first sustainability bond, which will assist businesses in financing their green, social, and sustainable investment projects.

Outstanding Leadership in Sustainable Finance by a Multilateral Institution

TDB Bank has been working on changes pertaining to environmental, social, and governance (ESG) issues as well as equity capital structure. With more than $1 billion in transactions completed so far, it has led the way in the use of blockchain technology to support trade finance. The bank has placed a lot of emphasis on the trade finance, project and infrastructure financing, and Sustainable Development Goals in 2022. The bank offered funding for infrastructure projects such as transportation, agriculture, and sports infrastructure development in Rwanda and Eswatini in addition to supporting the import and export of goods and other commodities.