Sunday Times Green PR
Pioneering Sustainable Living In Africa With Absa
As a full-value bank, we also help our customers play their role in managing their environmental impact, a question which for many South Africans finds expression in their thinking around independent power generation and water management.
In considering these complexities, we cannot ignore what goes to the very heart of the question – cost. We understand from our own research that homeownership remains aspirational for South Africans, however, at a time such as this many are deferring this one-in-a-lifetime investment after interest rate hikes, rising living costs and the impact of geo-political tensions globally have hit their pockets hard.

In light of all this, we are very proud to have become South Africa’s first bank to introduce a rebate to the residential property market, in collaboration with the International Finance Corporation, stimulating the purchase of sustainable housing. This initiative is not just about promoting green living; it’s about leading an industry-wide shift towards sustainability. By incentivising the purchase of eco-friendly homes, we are paving the way for a more sustainable future and demonstrating our commitment to our ESG goals.
This three-year initiative, which takes the form of a rebate of between 1.5% and 3%, will support prospective homeowners with the purchase of green-certified homes through the UK-IFC Market Accelerator for Green Construction (MAGC) programme. The MAGC programme provides blended concessional finance to catalyse the development of green buildings across emerging markets.
This initiative is part of Absa’s broader commitment to sustainability and is an extension of a range of home loan products designed to provide customers with access to housing that reduces their carbon footprints and promotes eco-friendly living.
In 2020, the bank also launched South Africa’s first Eco Home Loan in collaboration with Balwin Properties, offering customers who purchase properties in Excellence in Design for Greater Efficiencies (EDGE) certified developments an interest rate concession of 0.25% on their mortgages. The EDGE standard sets minimum thresholds for energy and water consumption savings for homes to be classified as eco-friendly.
Now, with the additional rebate in play, customers who purchase properties valued at less than R5 million directly from an Absa-approved Eco Home Loan development can save even more on the costs of their home loan.
We would like to invite developers and prospective homeowners to be part of this transformative journey towards a more sustainable future. By choosing an eco-friendly home, customers not only benefit financially but also contribute to a healthier, greener planet.
Visit www.absa.co.za/homeloans for all your home loan requirements.
