Awards for Excellence 2018
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On the back of the worst drought in living memory, the City of Cape Town issued South Africa’s first true green bond last year. It turned to one bank to be the lead arranger – Rand Merchant Bank (RMB). The city was able to raise R1 billion ($73 million) from eight allocated bidders, having received bids of almost R5 billion from 31 different bidders. The proceeds will be put to use financing green projects such as emergency water supply initiatives.
FirstRand Bank, RMB’s parent, has a deep commitment to society and the environment, earning it the award for Africa’s best bank for sustainable finance.
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