DEALS

Towards creating a
sustainable future
in retailing

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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.

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