On March 29, 2021, the UN Sustainable Stock Exchanges (SSE) Initiative reported that “(t)he Johannesburg Stock Exchange (JSE) welcomes the first listed Social Bonds in South Africa to its Sustainability Segment. The four social bonds valued at R609 million are listed by TUHF Limited (“TUHF”) in partnership with Standard Bank through a securitisation vehicle, Urban Ubomi 1 (RF) Limited.
TUHF is a specialised commercial property and non-bank financial services company that finances micro-developers in inner cities. The company raises funds through the capital markets and provides these funds to property entrepreneurs who redevelop buildings in urban areas with the aim of supplying high quality, affordable rental housing.
‘It is encouraging and inspiring to see South African businesses taking the Sustainable Development Goals to heart, and utilising the JSE Sustainability Segment to drive inclusive economic growth. As the biggest stock exchange on the continent, we are excited to list our first Social Bonds that will enable TUHF through Urban Ubomi to drive sustainable development through the provision of affordable housing and improved access to funding for property SMMEs and entrepreneurs,’ says Sam Mokorosi, Head of Origination and Deals at the JSE.”
You may read the article on the SEE internet site.