The African Development Bank Group (AfDB) and Nedbank Group have signed a landmark funding partnership aimed at expanding access to affordable housing in South Africa and boosting trade across the continent.
The financing package includes a ZAR 2.5 billion social bond listed on the Johannesburg Stock Exchange and a $60 million trade finance Risk Participation Agreement with Nedbank Limited. The initiatives are designed to support women and first-time homeowners, prioritize green-certified housing, and help close Africa’s trade finance gap.
The social bond proceeds will be channelled through Nedbank’s Sustainable Finance Fundraising Framework, reinforcing commitments to gender equality, climate resilience, and financial inclusion. The trade finance agreement provides credit risk coverage for Nedbank’s collaboration with local banks issuing letters of credit and other trade instruments, facilitating intra-African trade, particularly in low-income and transition states.
Kennedy Mbekeani, AfDB Director General for Southern Africa, described the partnership as “a significant milestone in our nearly two-decade relationship with Nedbank Group, unlocking critical financing where it’s needed most while strengthening our financial system’s resilience.”
Jason Quinn, CEO of Nedbank Group, said the agreement represents “a pivotal step in delivering real impact for communities across South Africa and the continent,” highlighting the dual focus on affordable housing and trade finance as key drivers of inclusive growth.
Ahmed Attout, AfDB Director for Financial Sector Development, noted that the initiative builds on previous AfDB investments, including Nedbank’s inaugural green bond in 2020, and underscores the Bank’s role in bridging Africa’s trade finance gap.
The partnership aligns with the African Development Bank’s Ten-Year Strategy (2024–2033), which aims to transform African economies through industrialization, regional integration, and improved quality of life, combining innovative housing finance with trade facilitation to promote sustainable, inclusive development.
