Absa Green Deposit investment product for corporates to invest in green assets

Financial services firm Absa has secured the opening investment in its Absa Green Deposit, which is an investment product that will link funds raised to a ring-fenced portfolio of eligible green assets and provide corporate companies in South Africa with an attractive yield. This initial tranche of funding will be used to finance or re-finance an equivalent amount of renewable energy projects. The initial investment was made by Italian utility local renewable energy subsidiary Enel Green Power South Africa.