Nedbank Corporate and Investment Banking (CIB) is pleased to announce the successful first property and sustainable finance transaction in Côte d’Ivoire, marking a milestone in its expansion into the West African market. This landmark deal involves an €18.5 million sustainability-linked term loan and revolving credit facility in collaboration with HC Capital Properties, sponsor of Cosmos Yopougon shopping mall. This deal consolidates Cosmos Yopougon’s position as the leading sustainable retail destination in the region and underscores both companies’ commitment to environmental sustainability and responsible finance.

Cosmos Yopougon, a flagship development of HC Capital Properties, has consistently demonstrated its leadership in green practices. As the first operational building in Francophone West and Central Africa to achieve International Finance Corporation (IFC) EDGE Green Building certification, the shopping centre has set a new benchmark for sustainable construction and operations. The shopping centre is a unique example of how commercial real estate can contribute to sustainable development.

The newly secured sustainability-linked debt solution, structured by Nedbank’s Property Finance Africa and Sustainable Finance Solutions teams, represents a further step forward in green finance innovation. This loan is structured to incentivise continued improvement in environmental performance of the mall, with a focus on waste management that aims to reduce waste generated at Cosmos Yopougon. This initiative aligns with the commitment of the mall to integrate environmental, social and governance principles into its operations, financing strategy and reducing its carbon footprint through improved energy, water, and waste management practices.

‘Cosmos Yopougon is dedicated to advancing its sustainability strategy by implementing recycling programmes for cardboard, plastic and construction waste. This sustainability-linked facility is a testament to our commitment to reducing our environmental impact and promoting sustainable practices within the retail property sector, and to creating sustainable returns for our stakeholders,’ says Sanankoua Cheick Abou, Managing Partner of HC Capital Properties.

The transaction not only underscores Nedbank CIB’s expertise in creating bespoke sustainable finance solutions, but also demonstrates its capability to support clients’ sustainability journeys across Africa. This deal is a clear example of how Nedbank CIB leverages its deep understanding of client needs and market dynamics to deliver impactful financial solutions.

Gerhard Zeelie, Divisional Executive at Nedbank CIB: ‘We are proud to partner with HC Capital Properties in this pioneering transaction in Côte d’Ivoire. This deal demonstrates our commitment to using our financial expertise to do good and create long-term value for our clients and the communities they serve. By focusing on key sustainability issues such as waste management, we are helping our clients achieve their immediate and long-term sustainability goals.’

The transaction aligns with Nedbank CIB’s broader purpose-led value creation strategy, highlighting the bank’s readiness to partner with local real estate players in West Africa to deliver innovative and impactful solutions.

The ongoing collaboration between Nedbank CIB and HC Capital Properties reflects a shared vision for a sustainable future. Nedbank CIB’s support through this sustainability-linked loan not only reaffirms Cosmos Yopougon’s position as a high-quality asset with the highest green credentials in the sub-region, but also serves as a model for future real estate green finance initiatives in West Africa.

Nedbank CIB’s accolades in 2024, including being named ‘Best Bank for Sustainable Finance in South Africa’ and ‘Best Bank for Green Bonds in Africa’ by Global Finance, further cement its leadership in the sustainable finance sector.

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 About Nedbank Corporate and Investment Banking (Nedbank CIB)

Nedbank Corporate and Investment Banking is a division of Nedbank, a leading African bank that provides transactional, corporate and investment banking services to local and global markets. Nedbank CIB’s client base includes leading corporations, financial institutions, state-owned entities, and governments across Africa.

About HC Capital Properties

HC Capital Properties (“HCCP”) is a multi-strategy real estate investment and development company (shopping centers, residential, offices, hotels, and logistics) with a focus on francophone West Africa. Since its inception, HCCP has been involved in transactions with a total value more than €480Mn.

As of today, HCCP is an integrated platform encompassing the entire real estate investment value chain. The HCCP group is made up of more than 100 professionals working in 4 group companies with a proven real estate expertise (development, construction management, investment, asset, property and facilities management) and a substantial combined experience. Team members are former employees of world-renowned companies such as Merrill Lynch, Helios Investment Partners, Rio Tinto, Schlumberger, Le Groupe Action Logement, MARK/Crossbay, Halliburton, Bouygues Construction, Vinci, Société Générale, Bouygues Immobilier, Groupe Duval.