Absa Group
Empowerment Financing
The Absa Group provides financing to multiple BEE initiatives. In one of its BEE transaction financing initiatives Absa underwrote a project finance revolving facility for R300 million for the Trans-Caledon Tunnel Authority for the Berg Water Project. This financing is going towards the construction of a dam with a gross storage capacity of 130 million m3 on the Berg River and a supplemental scheme on the Dwars River outside Franschhoek.
Absa has also underwritten a revolving project finance facility for R1 billion and a bridging facility for R100 million. These funds will be used for the Vaal River Eastern Subsystem Augmentation Project, which involves the construction of a 122 km pipeline to deliver water from the Vaal Dam to the Knoppiesfontein diversion structure, which discharges into either the Trichartsfontein or Bosjesspruit dams near Secunda.
Call us on
0800 41 41 41
E-mail us at
actionline@absa.co.za
