Investing for impact: Social bonds are driving change in Africa | Pendal Group
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Investing for impact: Social bonds are driving change in Africa

April 22, 2026

Investing can deliver more than returns. The African Development Bank’s social bonds are helping drive lasting change across some of the country’s most vulnerable communities.

  • African Development Bank social bonds fund essential services
  • Senegal livestock project boosts livelihoods, climate resilience
  • Find out more about Pendal’s Responsible Investing capabilities 

THE Regnan Credit Impact Trust and Pendal Sustainable Australian Fixed Interest Fund continue to support projects that have positive outcomes outside Australia.

An example of this is the AUD Social Bond from the African Development Bank which is a AAA rated development bank.

These types of social bonds have projects that focus on the underprivileged in society in Africa.

The focus of African Development Bank Social Bonds is on the most pressing needs of people who live in Africa. They address access to essential services, basic infrastructure, food security and sustainable food systems, employment generation and socioeconomic advancement.

Examples of the type of projects that these types of bonds fund include support for a project in Senegal in West Africa that is seeking to provide healthier and more sustainable food production of meat, milk and honey.

The project involves increasing the productivity, processing, marketing and logistics of animal production.

This is done by assisting stock breeders, meat wholesalers, small businesses – especially those owned and managed by women and youth, and public livestock services.

The project is estimated to assist 32,000 people directly, half of which are women and youth, and indirectly benefit 950,000 people. An aspect of this project is focused on climate adaptation, which is particularly vulnerable to drought events.

These types of projects are helping support the underserved in the world by providing livelihoods, as well as sustainable food supply. We can support projects like this through our investments in social bonds like those from the African Development Bank.

Find out about

Regnan Credit Impact Trust

About George Bishay and Pendal

George Bishay is Pendal’s head of credit and sustainable strategies. George’s investment management career spans over 30 years with Pendal and its predecessor firms.

He has also worked across numerous fixed income, credit and money market portfolios in portfolio management, credit analysis and dealing roles for 27 years.

In 2019 George was awarded the Alpha Manager status by Money Management publisher FE fundinfo.

Find out more about Pendal’s fixed interest strategies here

Pendal is an Australia-based investment management business focused on delivering superior returns for our clients through active management.

Contact a Pendal key account manager here


This information has been prepared by Pendal Fund Services Limited (PFSL) ABN 13 161 249 332, AFSL 431426. PFSL is the responsible entity and issuer of units in the Regnan Credit Impact Trust ARSN: 638 304 220 and Pendal Sustainable Australian Fixed Interest Fund ARSN: 612 664 730 (Funds). It is general information only and is not intended to provide you with financial advice or take into account your objectives, financial situations or needs. You should consider whether the information is suitable for your circumstances and we recommend that you seek professional advice.

It may contain information contributed or prepared by third parties. Any information contributed or prepared by third parties is believed to be accurate as at the time of compilation and is being provided in good faith without independent verification. PFSL does not warrant the accuracy or completeness of any information provided by a third party.

To the extent permitted by law, no liability is accepted for any loss or damage as a result of any reliance on this information. The PDS for the Funds, issued by PFSL, should be considered before deciding whether to acquire or hold units in the Trust. The PDS and Target Market Determination for the Funds can be obtained by calling 1300 346 821 or visiting our website www.pendalgroup.com.

All investing involves risk including the possible loss of principal. No company in the Perpetual Group (Perpetual Group means Perpetual ABN 86 000 430 827 and its subsidiaries) guarantees the performance of any fund or the return of an investor’s capital.

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