Absa Group and the African Development Bank (AfDB) have announced a landmark financial agreement aimed at enhancing South Africa’s capital markets and supporting inclusive economic growth. The multi-billion rand partnership will focus on financing green infrastructure, small and medium enterprises (SMEs), and women- and youth-led businesses.

The partnership is expected to inject much-needed capital into underdeveloped sectors, with a focus on job creation and environmental sustainability. Absa CEO Arrie Rautenbach said the initiative reflects a shared vision for long-term resilience and economic inclusivity. AfDB President Dr. Akinwumi Adesina added that the bank is committed to working with African financial institutions to unlock growth potential across the continent.