By Atoyebi Nike
The African Development Bank Group and Nedbank Group have signed a major financing agreement aimed at expanding access to affordable housing in South Africa and strengthening trade across Africa.
The package includes a ZAR 2.5 billion social bond investment in Nedbank Group Limited and a $60 million trade finance Risk Participation Agreement with Nedbank Limited. The initiatives are designed to help close Africa’s trade finance gap, promote intra-African trade and improve housing access, key drivers of inclusive economic growth.
The social bond, listed on the Johannesburg Stock Exchange, will be channelled through Nedbank’s Sustainable Finance Fundraising Framework. Funds will prioritize affordable housing for women and first-time homeowners, as well as green-certified housing units, supporting gender inclusion, climate resilience and financial access.
African Development Bank Director General for Southern Africa, Kennedy Mbekeani, said the partnership reflects a shared commitment to improving living conditions and expanding financial access for underserved communities, while strengthening the resilience of the financial system.
Under the trade finance agreement, the bank will provide credit risk cover to support Nedbank’s partnerships with local banks issuing trade instruments across the continent, including in low-income and transition countries, helping to accelerate regional trade.
Nedbank Group Chief Executive Jason Quinn described the agreement as a significant step toward delivering tangible social and economic impact through sustainable financing and inclusive development.
The deal aligns with the African Development Bank’s Ten-Year Strategy 2024-2033, which focuses on industrialization, regional integration and improving quality of life across Africa.
