Emergency response platform RapidDeploy raises equity funding from Nedbank CIB

SOUTH AFRICA – South African emergency response platform RapidDeploy has raised equity funding from Nedbank CIB, the corporate and investment banking division of the Nedbank Group, one of the four largest banking groups in South Africa. Founded by Steven Raucher and Brett Meyerowitz, RapidDeploy is an open and integrated response platform, transforming first responder communications centres of any size into…

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Nedbank partners real-time payments software ACI Worldwide for digital transformation

SOUTH AFRICA – ACI Worldwide, a global real-time payments software, announced a partnership with South Africa’s financial services provider, Nedbank, to drive its digital transformation journey including real-time payments. Nedbank is embarking on a wide-ranging modernization program, migrating all of its legacy systems to ACI’s award-winning ACI Enterprise Payments Platform, including the move to ISO20022, the global financial messaging standard.…

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Nedbank issues green bond backed by IFC to fund green residential developments in South Africa

SOUTH AFRICA – To help improve access to certified green homes in South Africa, International Finance Corporation (IFC) and Nedbank have announced the issuance of a green residential development bond under Nedbank’s domestic medium-term note program, with IFC as the anchor investor. This is the first green bond by a commercial bank in Africa focused on green residential housing developments.…

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Nedbank partners with IFC to support trade in Mozambique

MOZAMBIQUE – Nedbank Mozambique S.A., has joined International Finance Corporation’s (IFC) Global Trade Finance Program (GTFP) to boost a vital economic engine of growth that has been strained by the COVID-19 pandemic. IFC announced a trade finance facility guarantee of US$10 million under its GTFP to Nedbank Mozambique which will provide support to strengthen the bank’s trade finance operations and…

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IPP Acwa Power secures US$500m funding for its Redstone solar power plant in Northern Cape

SOUTH AFRICA – Saudi Arabian independent power producer (IPP) Acwa Power, has raised US&500 million from the African Development Bank (AfDB), Absa Bank, Development Bank of Southern Africa (DBSA), CDC Group, Nedbank, Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO), Deutsche Investitions- und Entwicklungsgesellschaft (DEG), Investec Bank and Sanlam Life Insurance to finance the construction of Redstone concentrated solar power plant (CSP). Following…

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Nedbank to stop funding new coal mines beginning 2025

SOUTH AFRICA- Financial institution Nedbank, will stop financing new thermal coal mines from 2025 and cut direct funding of new oil and gas exploration projects with immediate effect, the bank has announced amid growing pressure on banks from climate activists. South Africa’s lenders, some of the biggest banks on the continent, are facing pressure from environmental groups to stop funding…

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Nedbank, Mastercard and Ukheshe partner to launch WhatsApp payments in South Africa

SOUTH AFRICA – Nedbank, Mastercard and fintech firm Ukheshe, have joined hands to launch Money Message, a payment platform that lets small and micro businesses receive in-chat payments from their customers via WhatsApp. In a statement, the big-four bank says a first in South Africa, the solution will enable merchants to send an invoice requesting payment from any customer through WhatsApp and their…

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Nedbank gets US$200m loan from IFC to drive renewables in South Africa

SOUTH AFRICA – Financial services group Nedbank has received a US$200 million loan from the International Finance Corporation (IFC), a member of the World Bank, to drive renewable energy projects in South Africa. Arvana Singh, head of sustainable finance solutions at Nedbank’s Corporate Investment Banking (CIB), said the US$200 million loan facility will complement Nedbank’s already well-established green finance operations,…

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Fintech MortgageMarket raises US$682K funding from IDF Capital, plans expansion

SOUTH AFRICA – Fintech marketplace for home loans MortgageMarket, has raised US$681,765 in its latest round of funding from venture capital firm IDF Capital and now plans to expand its operations. MortgageMarket is a customer-centric online platform that harnesses technology and customer service to allow users to compare home loan offers from South Africa’s top six banks within 48 hours. The fintech company was…

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Nedbank secures US$200m from IFC to increase green financing in South Africa

SOUTH AFRICA – International Finance Corporation (IFC), a member of the World Bank Group, and Nedbank have partnered to increase financing for renewable energy projects in South Africa, helping the country transition to cleaner forms of power, reduce greenhouse gas emissions, and create jobs in the renewables sector. IFC will provide Nedbank, a wholly owned subsidiary of Nedbank Group, with…

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