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Stock impact report

Rand Merchant Bank Boosts African Carbon Business With Offset-Backed Loan [BNN Bloomberg (Canada)]

Korea Electric Power Corporation (KEP) 
Company Research Source: BNN Bloomberg
company takes it a step toward establishing its Africa-focused carbon finance business. The loan to KOKO Networks, plus an undertaking for future financing, will help support will help support the expansion of a company that has supplied 1.1 million Kenyan homes with bioethanol fuel and cookers. “It's a deal which actually stands out as fairly innovative and specialized,” said Phil Norton, carbon finance lead at the Johannesburg-based bank, in an interview. “As an African investment bank we think there's a real opportunity to, within the African continent, lead as a carbon financing and trading business.” The deal, a first step by Nairobi-based KOKO into accessing finance from major institutional debt markets, comes as African governments and businesses seek to boost income from carbon markets. New regulations have been announced over the last year in countries including Kenya and Zimbabwe, and companies that reduce deforestation and greenhouse gas emissions are seeking to raise Show less Read more
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