Stanbic funds Norsad Capital
Stanbic Bank Botswana provided African private debt firm, Norsad Capital Limited, R680 million (P492 million) six year sustainability funding to advance its Environmental, Social and Governance (ESG) initiatives.
The Bank served as co-arranger, lender and joint sustainability coordinator in the transaction, working closely with Norsad to ensure sustainable best practice to pave the way for future efforts of this nature.
Stanbic Bank Botswana Head, Corporate Investment Banking, Morufhi Masikara said the bank is committed to promoting the sustainable economic development of the African continent and is proud
Agbede joined Access Bank in 2003 as an Assistant General, with nearly three decades of professional experience cutting across banking and business consultancy services.
She served in different roles at the bank including, Head, Group Human Resources between 2010 and 2022 before she was appointed the company’s founding Executive Director, Business Support in 2022, a role she held until her new appointment to have the opportunity to support clients such as Norsad Capital, who have similar goals and shared sustainability lens for impact. “This is a first of its kind deal in the Botswana financial institutions sector and a second in Investment Banking Botswana and a historic feat to play our part to achieving the Sustainable Development Goals (SDGs).”
She said Stanbic’s market leading sustainable finance expertise as well as regional debt structuring experience, allowed the transaction to be uniquely tailored to Norsad’s financing needs, whilst aligning to some of their strategic sustainability goals.
Norsad Capital Limited has built its reputation as an impact investor offering debt financing solutions to mid-market growth companies across southern Africa that can generate positive impact and deliver strong financial returns. Founded in 1990, the firm services clients in the financial services, healthcare, industrial, manufacturing, cleantech, consumer products and services sectors.
Norsad Interim CEO, Jonathan Davies said the sustainability Key Performance Indicators (KPIs)
that will be measured throughout
She holds a Bachelor’s Degree in Mathematics and Statistics from the University of Lagos and a Master of Business Administration Degree from Cranfield University UK in 2002, the statement said, adding that she is also a member of the Chartered Institute of Management UK and the Chartered Institute of Personnel Management of Nigeria.
The appointment is subject to the approval of the Central Bank of Nigeria.“The appointment of Ms Agbede is in alignment with our robust the life of the facility include the number of customers reached by financial institutions. “As we work to deliver greater and more meaningful impact, the sustainability Key Performance Indicators (KPIs) that will be measured throughout the life of this facility include the number of customers reached by financial institutions, measuring the additional annual number of customers reached by financial institutions; and women and youth jobs, as we measure additional annual numbers of women and youth jobs supported by Norsad,” said.
For over three decades, Norsad has invested over USD500 million in more than 150 companies that have demonstratable positive impact. The firm aims to create a better Africa and positively impact the lives of 100 million Africans by 2030. Through its tailor-made debt finance solutions, Norsad supports the growth of profitable African companies by enabling them to have substantial and ongoing social impact through the services and employment they provide. Norsad provides direct debt financing of between USD5 million and USD15 million to mid-market companies for growth and development, with a firm ESG philosophy at the heart of its impact investing. This includes four impact areas of sustainable livelihoods; financial inclusion; gender equality; climate and clean energy. succession planning practices,” said Abubakar Jimoh, chairman of the company. “We are strongly convinced that Ms Agbede, being the company’s most senior executive, with exceptionally rich, professional and leadership experience and understanding of the Access culture, would provide the much-needed leadership to steer the company towards the attainment of its strategic vision of building a globally connected community and ecosystem, inspired by AAfricafor the world.”