Johannesburg, 26 March 2021 – The Johannesburg Stock Exchange (JSE) is excited to welcome 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 (SDGs) 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.
In line with the 2030 Agenda for Sustainable Development, the Sustainable Development Goals were adopted by all United Nations Member States in 2015, and they serve as a shared blueprint to achieve a better and more sustainable future for all.
“The work that will be implemented through the capital raised by Urban Ubomi will significantly contribute to several of the SDGs, and the JSE is honoured to provide an environment that enables social development and financial inclusion in line with the SDGs,” concludes Mokorosi.
The JSE launched the Sustainability Segment in June 2020 with the aim to provide a platform for companies to raise debt for green, social and sustainable initiatives. The segment makes it accessible and easier for companies to list and trade sustainability-related instruments to raise funds for activities directed at sustainable development.
ABOUT THE JSE
The Johannesburg Stock Exchange (JSE) has a well-established history operating as a market place for trading financial products. It is a pioneering, globally connected exchange group that enables inclusive economic growth through trusted, world class, socially responsible products, and services for the investor of the future. It offers secure and efficient primary and secondary capital markets across a diverse range of securities, spanning equities, derivatives, and debt markets. It prides itself as being the market of choice for local and international investors looking to gain exposure to leading capital markets on the African continent. The JSE is currently ranked in the Top 20 largest stock exchanges in the world by market capitalisation, and is the largest stock exchange in Africa, having been in operation for over 130 years.
As a leading global exchange, the JSE co-creates, unlocks value & makes real connections happen.
JSE media contacts:
Tel: 011 520 7331
Mobile: 072 419 4610
Email: [email protected]