Boasting a share of about 40% of South Africa’s commercial, industrial and retail property finance market, Nedbank CIB Property Finance now has its vision firmly focused on the rest of Africa to expand its footprint and, in doing so, achieve the group’s main objective of becoming a transcontinental tour de force.
To this end Nedbank CIB recently joined hands with Centum Investment Company Plc, East Africa’s foremost investment company, listed on both the Nairobi and Uganda securities exchanges. Centum also has a strong focus on a range of sectors, from real estate and financial services to agribusiness and healthcare.
Nedbank CIB Property Finance was instrumental in refinancing the existing third-party debt of Two Rivers Development Limited, a Centum subsidiary. The innovative debt structure takes uncertain cashflows into account and creates flexibility for Centum in alignment with its planning for the Two Rivers Development in Kenya, making available more than $65 million.
A perfect example of Nedbank CIB Property Finance’s commitment to take Africa forward.