Absa, in collaboration with the International Finance Corporation (IFC), is offering rebates to customers purchasing green-certified homes.
Customers who purchase properties valued at less than R5 million directly from an Absa-approved eco home loan development are eligible to receive between 1,5% to 3% of their loan amount back in a rebate.
The three-year initiative is part of the UK-IFC Market Accelerator for Green Construction programme aimed at supporting prospective home owners making eco-friendly choices. It provides blended concessional finance and advisory support to catalyse the development of green buildings across emerging markets.
The incentive will be credited directly into the customer’s home loan account and capitalised against the outstanding balance, reducing the loan amount and saving further interest over the mortgage term. “This initiative is not just about promoting green living. It is about being a catalyst for an industry-wide shift towards sustainability,” says Nondumiso Ncapai, Managing Executive for Absa Home Loans.
The residential property rebate is part of a R4,5 billion deal between Absa and the IFC, which estimates that the broader project could reduce South Africa’s annual emissions by over 12 000 tons.
