NEDBANK Eswatini seeks to advance green finance as a catalyst for inclusive growth and environmental resilience.
Managing Director Fikile Nkosi said their purpose was clear; to use their financial expertise to do good for individuals, families, businesses, communities and society at large.
She was speaking during the inaugural Nedbank Green Finance Seminar held at the Eswatini International Trade Fair (EITF) yesterday.
Nkosi said the seminar was a key feature of their presence at the EITF.
She at Nedbank sustainability was not just a corporate responsibility but was also a strategic imperative.
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The MD added that their commitment to green finance reflected their belief that economic progress must go hand-in-hand with environmental stewardship. She encouraged meaningful engagements while exploring how finance could be a catalyst for a greener and more resilient future.
She also urged engaging actively, asking questions to explore how they could work together to unlock the potential of green finance in Eswatini and beyond, making the seminar a catalyst for meaningful change.
“Today marks an important moment in our journey towards building a more sustainable and inclusive economy. This is why we have proudly invested in the Nedbank Green Zone, a space dedicated to showcasing innovative, climate-smart solutions, which highlights our support for green entrepreneurship, and small and medium enterprises (SMEs) committed to sustainability. We are also deeply aligned with the United Nations Sustainable Development Goals (SDGs), particularly, SDG 7, 9 and 13 that speak to affordable and clean energy, industry, innovation and infrastructure, and climate action,” she said.
The programme included a panel discussion led by industry experts from across the sustainability sector, who delved into the evolving sustainability narrative and its implications for business, finance and policy.
Nedbank Group Lead on Sustainability Mokgadi Maloba shared insights into the sustainable solutions that the green bank was implementing across all the countries where they operate.
Her address highlighted how financial institutions could be powerful enablers of climate resilience, innovation, and inclusive growth.
Maloba noted that they also had programmes for youth entrepreneurship support where they empowered youth with skills and funding for solar self-generation capabilities.
“In South Africa, our green economy strategy has four foundation pillars, the strategy focuses on agriculture, water, energy and waste to promote a circular green economy. We focus on rural communities with initiatives largest in the rural and semi-urban areas with high poverty, unemployment for maximum impact,” she said.
Head of Treasury Bongani Mabuza, who directed the day’s proceedings, noted that the bank was aggressive in their sustainability loans and advances as they had 20 towards sustainable finance for water, renewable energy, agriculture and more.
Meanwhile, Eswatini Electricity Company (EEC) General Manager Research and Development Mphumuzi Maziya presented on the embedded generator (EG) system, which he described as a generating unit embedded within the distribution network located on the customer side of the meter.
He said EG challenges from the utility perspective included safety risks, fire hazards, complex grid management and power quality concerns.
“Other challenges are poor load factor and associated capacity costs, poor power factor as solar PV without capacitators draws reactive power from the grid, localised overvoltage for oversized systems which may damage equipment at facility as well as those connected to it. May I urge that you consult with EEC first before constructing the power plant to avoid non-complying installation, a single customer on a transformer needs 75% utility installed capacity and 25% when customers share. There are also three steps taken to register embedded generator for approval and forms could be downloaded from www.eec.co.sz/electricity/production/eg/,” he said.
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