On 13 May 2024, the London Stock Exchange unveiled the listing of the NMB Bank Plc’s-Jamii Sustainability Bond, a pioneering financial instrument designed to catalyze investment in projects that deliver tangible social and environmental benefits. The capital raised for this admission is USD 73 Million and it is aligned with global efforts to address pressing sustainability challenges and build a more resilient and inclusive society, empowering investors with the opportunity to generate financial returns while making a meaningful impact. This is the first Sustainability Bond in the East Africa region.
Fola Pedro, FCCA, Executive Director, ALCB Fund, attended the listing. The ALCB Fund invested in the Jamii Bond in 2023 and is pleased to have supported the successful issuance of the Sustainability Bond, which was 284% oversubscribed. The bond issuance underscores NMB Bank's commitment to mobilising private capital for inclusive growth, and will fund investments in projects that will deliver social and environmental benefits.
The ALCB Fund’s mandate is to support African issuers in raising local currency funding to drive investments in impactful projects to the benefit of low-income households and SMEs. The Fund provides anchor investments and technical assistance, investing in economically inclusive transactions that foster sustainable development in Africa.
