In a first for the sector, leading automotive group, Motus Holdings said yesterday it had secured a syndicated R6 billion sustainability-linked facility facilitated by Standard Bank and a R800 million sustainability-linked working capital facility from Standard Bank.
“This ground-breaking ZAR-denominated environmental, social and governance (ESG) facility will enable the next phase of Motus’s ESG journey. It will focus on the fuel used by group vehicles, water and electricity consumption, as well as gender equality to drive diversity and inclusion,” it said.
Motus said having secured international ESG-linked facilities in January, 2020 the latest R6.8bn reaffirmed its ongoing commitment to ensure ESG principles and outcomes are integrated with its strategy and performance for sustained growth.
Osman Arbee, the chief executive of Motus, said, “We are pleased to be able to work with partners who have developed innovative products to integrate our sustainability values with responsible capital market participants. Our commitment to the targets recognises our ongoing investment and evolution to ensure we reduce carbon emissions and contribute to social challenges to ensure a better and more sustainable business.”
Lungisa Fuzile, the chief executive of Standard Bank South Africa, said: “Our partnership with Motus affirms our commitment to mobilise between R250 billion and R300 billion in sustainable finance by the end of 2026. We are therefore delighted and proud to partner with Motus in supporting their growth ambitions while also contributing to transformation in our economy.”
BUSINESS REPORT