The African Development Bank (AfDB) Group and Nedbank Group have signed a landmark partnership to enhance access to affordable housing in South Africa while promoting trade across the continent.

The financing package includes two major components:

1. A ZAR 2.5 billion social bond investment in Nedbank Group Limited, listed on the Johannesburg Stock Exchange. Proceeds will be channelled through Nedbank’s Sustainable Finance Fundraising Framework to prioritize affordable housing for women, first-time homeowners, and green-certified units.
2. A $60 million trade finance Risk Participation Agreement with Nedbank Limited to provide credit risk coverage for partnerships with local banks issuing letters of credit and other trade instruments across Africa, particularly in Low-Income Countries and Transition States.

These initiatives aim to narrow Africa’s trade finance gap, accelerate intra-African trade, and improve access to housing, reinforcing inclusive economic growth and sustainable development.

“This partnership builds on our shared commitment to financial access for underserved communities and transforming living conditions across South Africa,” said Kennedy Mbekeani, AfDB’s Director General for Southern Africa.

Nedbank’s CEO, Jason Quinn, emphasized the broader impact of the collaboration:

“By mobilising funding for affordable housing and supporting trade finance for local banks, we are unlocking opportunities for inclusive growth and economic transformation while fostering climate resilience.”

AfDB’s Ahmed Attout, Director for the Financial Sector Development Department, highlighted that the initiative strengthens local debt capital markets and builds on previous investments, including Nedbank’s inaugural green bond in 2020 supporting renewable energy access.

The partnership is aligned with AfDB’s Ten-Year Strategy (2024–2033), which focuses on industrialization, regional integration, and improving the quality of life for Africans.