Nedbank banking on raising R4bn on green bond

By Phakamisa Ndzamela:

Nedbank hopes to raise R4bn from a green savings bond programme that will give ordinary South Africans an opportunity to invest as little as R1,000

Mike Peo, head of Infrastructure, Energy and Telecoms at Nedbank Capital, said the proceeds of the capital raised from individual investors would be used to finance renewable energy projects in the country.

Nedbank, through its investment banking arm Nedbank Capital, has been providing financial backing in SA’s renewable energy  independent power producer programme.

South Africans who buy Nedbank’s Green Savings Bond will earn interest of up to 7.5% per annum, giving them an opportunity to invest in a vehicle with guaranteed returns.

“We will go for an initial tranche of at least R4bn … We are quite confident we will raise that,” Anton de Wet, Managing Executive of Client Engagement at Nedbank said on Tuesday… Read more

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