Serrari Group

Finance & Investment News|Finance Calculators|Online Courses|Personal Finance Tips Business Finance Tips Macro Economic News Investments News Financial & Investments Calculators Compare Economies & Financial Products My Serrari Serrari Ed Online Courses

A significant moment in African climate investment occurred as NMB Bank’s sustainability bond, the NMB Jamii Bond, was cross-listed on the London Stock Exchange. This event signifies a crucial step forward in attracting global capital for climate finance and development in Africa.

Originally issued as the largest sustainability bond in East Africa, the NMB Jamii Bond has drawn attention from international investors, including British International Investment (BII), the UK’s development finance institution. BII’s commitment to climate finance, with at least 30% of its total commitments dedicated to such endeavors, underscores the growing importance of sustainability in global investment strategies.

Christopher Chijiutomi, Managing Director and Head of Africa at BII, highlighted the significance of the NMB listing, stating it offers a unique opportunity for UK and global investors to participate in Africa’s future. Deputy Foreign Secretary and Minister for Development and Africa Andrew Mitchell echoed this sentiment, emphasizing the UK’s ongoing commitment to sustainable development in Africa.

NMB Bank’s Chief Executive, Ms. Ruth Zaipuna, expressed pride in the bank’s sustainability efforts and its role as a trailblazer in African capital markets. The successful listing of the Jamii Bond reflects investor confidence in NMB Bank’s dedication to sustainability and its positive impact on Tanzania’s investment climate.

Julia Hoggett, CEO of LSE plc, welcomed NMB Bank’s sustainability bond to the London Stock Exchange, highlighting London’s position as a global hub for sustainable finance. The listing demonstrates NMB’s commitment to transparency and sustainability objectives while showcasing continued international investor support for African issuers.

The need for inward investment into Africa is pressing, with an estimated finance gap of $200-400 billion per year. The funds raised through the NMB Jamii Bond will be directed towards high-impact companies addressing the climate emergency and promoting inclusive growth across the continent.

Mark Napier, Chief Executive of FSD Africa, praised the milestone, noting its potential to mobilize sustainable finance within and beyond Africa. The listing of the NMB sustainability bond is expected to significantly contribute to Africa’s climate finance needs, estimated at $277 billion annually.

The successful issuance of the NMB Jamii Bond on the Dar es Salaam Stock Exchange highlighted the growing capacity of local investors to meet the demand for climate and sustainability financing. The bond’s alignment with international sustainability guidelines underscores the importance of transparent and accountable reporting in sustainable finance initiatives.

In conclusion, the cross-listing of NMB Bank’s sustainability bond on the London Stock Exchange marks a significant milestone in African climate investment, fostering collaboration between African institutions and global investors to address the climate crisis and promote sustainable development across the continent

photo source: Google

By: Montel Kamau

Serrari Financial Analyst

17th May, 2024

Share this article:
Article and News Disclaimer

The information provided on www.serrarigroup.com is for general informational purposes only. While we strive to keep the information up to date and accurate, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

www.serrarigroup.com is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information on the website is provided on an "as-is" basis, with no guarantee of completeness, accuracy, timeliness, or of the results obtained from the use of this information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.

In no event will www.serrarigroup.com be liable to you or anyone else for any decision made or action taken in reliance on the information provided on the website or for any consequential, special, or similar damages, even if advised of the possibility of such damages.

The articles, news, and information presented on www.serrarigroup.com reflect the opinions of the respective authors and contributors and do not necessarily represent the views of the website or its management. Any views or opinions expressed are solely those of the individual authors and do not represent the website's views or opinions as a whole.

The content on www.serrarigroup.com may include links to external websites, which are provided for convenience and informational purposes only. We have no control over the nature, content, and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorsement of the views expressed within them.

Every effort is made to keep the website up and running smoothly. However, www.serrarigroup.com takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.

Please note that laws, regulations, and information can change rapidly, and we advise you to conduct further research and seek professional advice when necessary.

By using www.serrarigroup.com, you agree to this disclaimer and its terms. If you do not agree with this disclaimer, please do not use the website.

www.serrarigroup.com, reserves the right to update, modify, or remove any part of this disclaimer without prior notice. It is your responsibility to review this disclaimer periodically for changes.

Serrari Group 2023

 

×