https://www.engineeringnews.co.za
Africa|Construction|Environment|Financial|Housing|Projects|Services|Sustainable
Africa|Construction|Environment|Financial|Housing|Projects|Services|Sustainable
africa|construction|environment|financial|housing|projects|services|sustainable

Standard Bank undertakes largest student housing financing endeavour in Africa

27th May 2024

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

Financial services provider Standard Bank has partnered with global advisory firm MiDA Advisors and real estate developer Acorn Holdings to mobilise long-term blended finance commitments for green and affordable student housing in Kenya.

The transaction will comprise up to $180-million in financing from the US Development Finance Corporation, which should help to secure $380-million more financing arranged jointly by Stanbic Bank Kenya – a member of Standard Bank Group – and MiDA.

The companies will also source $315-million in financing from Kenyan capital markets.

Overall, the partners aim to raise $700-million in total blended finance over an 18-year timeframe, which will enable the construction of 35 certified green housing projects.

The projects will result in 48 000 new student beds being built over the next ten years, alleviating the shortage of quality and affordable accommodation for tertiary students in Kenya.

The deal marks the single-largest student housing investment in Africa and will create about 15 000 direct jobs and 35 000 indirect jobs.

Standard Bank is committed to driving Africa’s socioeconomic development, with the latest transaction aligning with the group’s facilitation of sustainable investment on the continent,

The group aims to raise between R250-billion and R300-billion in sustainable finance by the end of 2026.

Standard Bank was instrumental in bringing the first-ever green bond to East Africa, with the help of Acorn, for the development of environment-friendly student housing in Nairobi.

 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

 

Showroom

Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.383 0.438s - 175pq - 2rq
Subscribe Now