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Strategic partnership secures R4.5 billion for Limpopo's water infrastructure
In a landmark move to address South Africa’s escalating water crisis, Nedbank Corporate and Investment Banking (CIB) has successfully closed a R4.5 billion term loan facility to the Trans-Caledon Tunnel Authority (TCTA) for the Mokolo-Crocodile River Water Augmentation Project Phase 2A (MCWAP-2A). This financial collaboration underscores Nedbank’s unwavering commitment to sustainable development and critical infrastructure projects.
The MCWAP-2A project is a lifeline for the Limpopo province, a region plagued by severe water shortages that hamper industrial growth and limit social development. The programme involves constructing an abstraction weir, state-of-the-art pump stations, and a 160 km pipeline to channel water from the Crocodile River (West) to Lephalale. Once completed, the project will provide 75 million cubic meters of water annually, benefiting sectors including Eskom power stations, Exxaro mining operations, and local municipalities.
Phuti Mokwatedi, Sector Lead of State Owned Companies at Nedbank Corporate and Investment Banking, said, “We understand that access to water is a constitutional right, and this transaction is an example of how we support the government in ensuring the availability and sustainable management of water and sanitation for all. As such, we continue to build on our relationships with all spheres of government and water authorities to look for partnership opportunities to assist South Africa in resolving water and sanitation infrastructure challenges and to participate in opportunities within the water and sanitation value chain.”
MCWAP-2A is more than an infrastructure project; it catalyses economic revitalisation in Limpopo. By ensuring a stable water supply, it supports both existing and future industrial and mining users, paving the way for economic expansion and social progress. The project aligns seamlessly with Sustainable Development Goal 6 (Clean Water and Sanitation), highlighting Nedbank’s commitment to meaningful impact.
TCTA, a Schedule 2 State-Owned Entity, has a long history of implementing critical bulk raw water infrastructure projects. Established to fulfill the government’s mandate for the Lesotho Highlands Water Project Phase 1, TCTA has since executed several initiatives. The second phase of the Lesotho Highlands Water Project is currently underway and is expected to be completed by 2028.
“The complexity of securing funding for projects of this magnitude cannot be overstated,” noted Percy Sechemane, CEO of TCTA. “The collaboration with Nedbank CIB and other lenders is a testament to our shared vision of sustainable development and water security. This funding will help us meet the water needs of the Limpopo province and ensure a reliable supply for future generations.”
As South Africa faces increasing water scarcity, the role of strategic partnerships in securing a sustainable water future becomes ever more critical. Nedbank’s collaboration with TCTA exemplifies a proactive approach to addressing environmental and economic challenges, ensuring that the country’s water infrastructure is robust and future-proof.
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Strategic partnership secures R4.5 billion for Limpopo's water infrastructure
In a landmark move to address South Africa’s escalating water crisis, Nedbank Corporate and Investment Banking (CIB) has successfully closed a R4.5 billion term loan facility to the Trans-Caledon Tunnel Authority (TCTA) for the Mokolo-Crocodile River Water Augmentation Project Phase 2A (MCWAP-2A). This financial collaboration underscores Nedbank’s unwavering commitment to sustainable development and critical infrastructure projects.
Published 23 Jul 2024 in nedbank:cib/deals
Strategic partnership secures R4.5 billion for Limpopo's water infrastructure
In a landmark move to address South Africa’s escalating water crisis, Nedbank Corporate and Investment Banking (CIB) has successfully closed a R4.5 billion term loan facility to the Trans-Caledon Tunnel Authority (TCTA) for the Mokolo-Crocodile River Water Augmentation Project Phase 2A (MCWAP-2A). This financial collaboration underscores Nedbank’s unwavering commitment to sustainable development and critical infrastructure projects.
Published 23 Jul 2024
Nedbank CIB arranges landmark auction for Stor-Age
As a leading debt capital market arranger in the property sector, Nedbank CIB is proud to announce its role in assisting Stor-Age with the establishment of its Domestic Medium-Term Note (DMTN) Programme and executing its inaugural public bond auction as the sole lead arranger. Stor-Age raised R500 million across two notes of offer, which listed on the JSE on the 18th of April 2024. Nedbank was also appointed in various agency roles on the programme, including the debt sponsor and paying, settlement, transfer, calculation and issuer agent.
Published 04 Aug 2024 in nedbank:cib/deals
Nedbank CIB arranges landmark auction for Stor-Age
As a leading debt capital market arranger in the property sector, Nedbank CIB is proud to announce its role in assisting Stor-Age with the establishment of its Domestic Medium-Term Note (DMTN) Programme and executing its inaugural public bond auction as the sole lead arranger. Stor-Age raised R500 million across two notes of offer, which listed on the JSE on the 18th of April 2024. Nedbank was also appointed in various agency roles on the programme, including the debt sponsor and paying, settlement, transfer, calculation and issuer agent.
Published 04 Aug 2024
