DEALS A bridge between our capabilities and Africa's potential Absa | Corporate and Investment Banking > Insights and Events > A bridge between our capabilities and Africa’s potential SHARE Absa signs US$200 million funding facility with China Development Bank Absa Bank SA and China Development Bank, China's largest overseas lender and the world's largest Development Finance Institution, have signed a three-year, US$200 million working capital facility. The facility enables Absa Bank to further diversify its hard currency funding sources at comparatively competitive funding cost, while supporting our ambition to be a leading Pan-African bank. This transaction also demonstrates the good momentum and success for Absa’s growth-centred China strategy. CDB is China's largest overseas lender and the world's largest Development Finance Institution (DFI). CDB is currently a key strategic partner for Absa and is becoming increasingly more important in the build-out of Absa's China strategy. This transaction, which was signed in the context of recent global banking sector turmoil, demonstrates CDB's confidence in Absa's strategy and business performance, as well as their continuing commitment to Africa's economic growth and development. With the trust and momentum gained in concluding this transaction, Absa will continue to build and deepen our relationship with CDB and its major clients in Africa and China. Contact us To learn more about our commitment to a growth-centred Africa-China partnership. https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Related Articles DEALS Powering progress for a cleaner energy future We are proud to partner with Mulilo and Air Products South Africa on a transformative 75MWAC solar PV power plant in the Northern Cape. The Ukuqala Project marks a significant step in advancing South Africa’s renewable energy transition and securing a low-carbon future. Read more DEALS Driving purposeful partnerships to advance retail growth in Africa At Absa CIB, we’re committed to building partnerships that create lasting value for both businesses and communities. Our collaboration with Garden City Mall in Nairobi, Kenya, highlights this commitment as we help drive sustainable growth and economic opportunity in one of East Africa’s largest retail developments through a USD 37,3 million commercial property financing transaction. Read more DEALS Driving a greener energy value chain We are pleased to share that Absa has successfully acted as Co-Mandated Lead Arranger, Facility Agent and Hedge Provider alongside Nedbank for Pele Green Energy’s Sonvanger 100MW solar PV power project. This R2.2 billion project is a landmark transaction for Pele Green Energy, positioning them as a leading developer in South Africa’s renewable energy sector. Read more
