Row rect Shape Decorative svg added to bottom DEALS Shared values of sustainability Absa | Corporate and Investment Banking > Insights and Events > Shared values of sustainability SHARE Business success is built on a foundation of high-quality partnerships with an understanding of each other’s strategic goals. Absa Corporate and Investment Banking and the Pick n Pay Group are proud to celebrate the 55th year in their long-standing partnership which delivers societal impact for all stakeholders. Since its inception in 1967, Pick n Pay has grown exponentially, with more than two thousand stores across South Africa, Namibia, Botswana, Zambia, Nigeria, Eswatini, and Lesotho, and an annual turnover of over R100bn. The partnership has expanded to incorporate initiatives such as the Absa Rewards Programme, as well as the management of an Enterprise and Supplier Development (ESD) programme. Pick n Pay aims to be a Net Zero business by 2050, reducing store food waste by 50% by 2030. This ambitious sustainability target will be enabled by, among others making all PnP-branded packaging recyclable or reusable by 2025, reducing energy usage by 45% by 2030 and water usage by 20% by 2025 Absa is proud is commit R1 billion in this landmark sustainability-linked funding package to assist the retailer in implementing Project Ekuseni. This will in addition to contributing to the rejuvenation of the supermarket format and growth, also support the conversion of Pick n Pay’s refrigeration to natural refrigerants, reducing emissions and also lessening food waste. These are all efforts to make the world a better place and align with Absa’s values and ESG ambitions, as well as further solidifying our long-standing relationship with Pick n Pay. Contact us https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Related Articles DEALS Capital that builds confidence in South Africa’s tomorrow Absa Corporate and Investment Banking (CIB) is proud to partner with the South African National Treasury as the sole lead arranger and infrastructure finance structuring agent of a R11.8 billion Infrastructure and Development Finance Bond. This purpose-driven instrument is designed to finance or refinance priority infrastructure under the Government’s Budget Facility for Infrastructure (BFI) programme. Read more DEALS Building Namibia’s fiscal strength through purpose-led partnership Supporting the Government of the Republic of Namibia with a ZAR 1.5 billion facility that enables Eurobond repayment obligations and strengthens domestic fiscal resilience. Read more DEALS Distributed Energy. Powering Africa’s low-carbon leap Absa supports CrossBoundary Energy’s $225 million capital raise, contributing up to $100 million to expand renewable infrastructure, enable the mining of critical transition metals such as copper, and extend energy access across underserved African markets. Read more
