Nedbank CIB arranges R8.5B funding package for Anthem's renewable energy push
What's the deal? NedbankDealroom has a profile for this one. Try Dealroom → Corporate and Investment Banking (CIB) has arranged an R8.5 billion (~$460M) funding package for Anthem Group, one of South Africa's largest fully integrated independent power producers (IPPs). Nedbank acted as lead arranger and primary lender, partnering with Rand Merchant Bank to create a multi-tranche, flexible facility designed to accelerate Anthem's growth in renewable energy.
Anthem is a renewable energy platform controlled by Old MutualDealroom has a profile for this one. Try Dealroom → (via the AIIM-managed IDEAS Fund) and backed by Norfund, Norway's investment fund for developing nations, and the Mahlako Energy Fund, a 100% black-women-owned fund manager. It spans the full renewable energy value chain and targets 6GW of capacity by 2030.
Why now? South Africa is transitioning toward a more liberalised electricity market, creating major opportunities for independent power producers. The funding gives Anthem fast access to capital it can deploy across its operations, with potential expansion into the Southern Africa Development Community (SADC) region.
The signal: With Old Mutual — a mature international investment and insurance group — controlling Anthem through its AIIM-managed IDEAS Fund, and Norway's Norfund providing additional backing, the deal illustrates how established institutional capital is increasingly flowing into African renewable energy infrastructure. Anthem's 6GW target by 2030 is ambitious, but the R8.5 billion flexible facility suggests lenders see South Africa's liberalising electricity market as a bankable long-term bet rather than a speculative one.
Read more: dailystar.co.za
