Bayport Management recently appointed Absa Corporate and Investment Banking (CIB) to be the joint bookrunner in the first-ever US dollar social bond to be issued by a corporate in Africa. The $260m senior unsecured social bond, which is due in 2022, was heavily oversubscribed, reflecting investors' recognition of the positive social impact of Bayport's services on the markets in which the group operates. The bond has since been listed on the Nasdaq Stockholm Sustainable Bond List. Social bonds are instruments whose proceeds exclusively finance or refinance projects that deliver a wider social impact. In Bayport's case, this includes job creation through small and medium-sized enterprises financing, and financial inclusion.