DEALS Towards creating a sustainable future in retailing Absa | Corporate and Investment Banking > Insights and Events > Towards creating a sustainable future in retailing SHARE We are proud to have acted as Original Lender and Sustainability Agent for the Shoprite Group for their ZAR2 billion Sustainability-linked Loan. The Shoprite Group is Africa's largest retailer and its core business is food retailing, complemented by adjacent value-added retail services and offerings across a range of industries. The Group’s purpose is to uplift lives every day by pioneering access to the most affordable goods and services, creating economic opportunity and protecting our planet. The facility provided is a ZAR2 billion Sustainability-linked Loan with a pricing ratchet linked to the Group’s compliance with various pre-agreed sustainability performance targets. Environmental responsibility and protecting the planet are cornerstones of the Group’s purpose, and structuring the loan as a sustainability-linked facility allowed the Group to directly align its business operations and capital requirements with its sustainability commitments. This deal will enable the Shoprite Group to expand on its key environmental programmes relating to renewable energy, waste recycling and sustainable packaging, in line with its transition efforts and commitment, and will positively contribute towards the Group's sustainability goals. This deal demonstrates Absa CIB’s commitment to supporting our clients on their ESG journeys as well as our ability to deliver tailored solutions by linking clients’ sustainable growth strategies with their financing. We are proud to partner with our clients in creating sustainable and value-creating solutions, thus enabling economic activities that create shared prosperity for current and future generations. Contact us https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Related Articles DEALS Powering Africa’s digital future through connectivity We are pleased to have served as sole transaction coordinator in the successful financing of Vodacom's R11 billion preference share facility used to refinance the acquisition of a controlling stake in Vodafone Egypt. This strategic transaction signals a significant milestone, not only for Vodacom but also for the broader telecommunications and financial services landscape in Africa. The transaction represents the largest syndicated preference share facility closed to date in the South African market. Read more DEALS Unlocking Africa’s Trade Potential We are proud to announce our partnership with British International Investment, a collaborative effort aimed at addressing Africa's significant trade finance gap. Read more DEALS Reviving Africa’s Trade Finance, Demands Bold DFI-Bank Partnerships A Nigerian manufacturer, eager to tap into new markets across West Africa, secures buyers in Côte d'Ivoire and Ghana. Yet, despite the strength of these opportunities, the company encounters a formidable roadblock: the inability to access the requisite trade finance to execute its cross-border deals. Read more