Imperial is pleased to advise that it has recently secured ZAR RCF (revolving credit facility) and USD multi-jurisdictional multicurrency facilities totalling approximately R1.3bn from Rand Merchant Bank (RMB). These facilities will support the Group’s growth into Africa in line with its ‘Gateway to Africa’ strategy, including an enhanced focus on Environmental, Social and Governance (ESG).
“As a company that prioritises people and planet in addition to profit, ESG is a significant pillar and enabler of Imperial's Group strategy”, says George de Beer, Group CFO at Imperial. “As we continue to pursue and grow our presence on the continent as a ‘Gateway to Africa’, the multi-faceted support and flexibility RMB is able to deliver in its facilities is essential. In addition to the provision of funding, RMB’s experience assists in reducing complexity and supporting our strategy each step of the way.”
RMB’s ZAR ESG RCF structure utilises the inclusion of an external Business Sustainability Rating and commitment from Imperial to direct pricing benefits to its ESG strategy specifically. These two steps represented a step forward for the local market on product development for both impact and credibility. Imperial has placed a strong focus on embedding ESG priorities into its strategic objectives, and is following a comprehensive approach, as highlighted by the Group’s investment in resources and its willingness to engage with external ESG Risk Business Sustainability Rating agencies (in this instance, EcoVadis) to provide independent assessment on its ESG performance to stakeholders.
“ESG principles have been embedded into the ZAR RCF facility leveraging Imperial’s strategic initiatives and commitments as the Group proactively manages its impact on people and the planet, beyond compliance requirements”, concludes de Beer.