Row rect Shape Decorative svg added to bottom Banking on local growth with a world-class resort Absa | Corporate and Investment Banking > Insights and Events > Banking on local growth with a world-class resort Annah Watkinson | Vumiso Nyamaza SHARE Together with Collins Consortium Group, we are driving tourism, sustainability, and economic growth through South Africa’s first Club Med resort. At Absa Corporate and Investment Banking, we’re committed to playing a catalytic role in landmark developments that stimulate long-term economic growth. Our collaboration with Collins Consortium Group to deliver South Africa’s first Club Med resort is testament towards that commitment. The Club Med resort, to be situated on KwaZulu-Natal’s North Coast, is a R2.5 billion project that marks a new era for the local tourism and hospitality sector. As Mandated Lead Arranger, Facility Agent and Commercial Property Finance Agent, Absa delivered a bespoke financing solution, drawing on our hospitality and commercial property expertise to shape a tailored, market-ready transaction. This milestone deal cements the Collins Consortium’s position as one of South Africa’s leading developers, expanding its market presence and paving the way for future projects across diverse sectors and scales. The resort is set to offer premium amenities that meet the needs of modern, discerning travelers, setting a new benchmark for hospitality development in the region. By aligning the strategic growth ambitions of Collins Consortium, the deal was able to bring together a partnership of public, private and BEE investors, united towards shaping the future of the sector’s growth. The result is a powerful example of collaborative investment that meets market needs, while delivering lasting impact. This Infrastructure development will bring benefits to Kwa-Zulu Natal, enhancing intra-regional and international trade, strengthening the province's local and global competitiveness, whilst boosting local long- term employment opportunities. By investing in this monumental project, we are building Africa’s hospitality future through infrastructure that connects people, grows businesses, and reshapes local economies for sustainable growth. Annah Watkinson | Vumiso Nyamaza https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Related Articles RISK MANAGEMENT How Finance Can Help Build More Integrated African Supply Chains If one were to speak to African suppliers who trade across borders, many would say that doing business within the continent can feel riskier than exporting beyond it. Especially for small and medium-sized enterprises (SMEs), information on counterparties is not always easy to obtain, regional currencies can be volatile and difficult to hedge, forward markets offer little depth, and access to affordable finance is often limited at precisely the moment it is needed most. Read more RISK MANAGEMENT What Bidvest’s Eurobond Tells Us About the Maturation of SA’s Debt Capital Market The international high-yield bond market functions as one of the largest and most technically evolved sources of corporate funding in the global financial system. Read more RISK MANAGEMENT Africa’s Capital Markets Are Moving Again. Here’s How. Kenyan beverages giant East African Breweries recently refinanced an existing KES 11 billion corporate bond through a medium-term note priced at 11.8%, marking the first issuance under its newly approved KES 20 billion programme. Read more
