|Nedbank to Shore up Funds via South Africa Green Program||
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Nedbank is looking to establish a green savings bond program, taking opportunity in South Africa’s IPP Procurement Process, which could potentially raise about $489 million in capital. Locals can invest as little as $122 with the proceeds of the capital used to finance renewable energy projects within the country, according to the Bank’s head of infrastructure, energy, and telecoms Mike Peo.
South Africans who take part in the scheme will earn an interest of up to 7.5% annually, ensuring a return on investment. Investors can choose between savings bonds for a period of 18, 24, 36, and 60 months with interest paid monthly, quarterly, bi-annually, yearly, or on an expiry of the investment term.