29th September, 2017
Municipality Waste Management Contractors Limited (MWMCL), a consortium led by Visionscape Sanitation Solutions Limited, has been recognized for its socio-economic impact and the significant role it has played in driving advancements in product innovation, transparency and credibility in the financial markets.
Visionscape, which is a global environmental utility group providing turnkey solutions in areas of sanitation, energy and wastewater treatment, is a strategic partner to the Lagos State Government on the implementation of the new waste management policy encapsulated in the Cleaner Lagos Initiative.
The MWMCL was honoured with the FMDQ Debt Capital Market (DCM) Awards which was organized by the FMDQ OTC Securities Exchange, an over the counter market focused on the strategic development of the Nigerian financial markets.
The organisers said the MWMCL was recognized for its trailblazing efforts in the successful issuance of Nigeria’s premier Green Notes. The green notes serve as a financing structure for the implementation of The Cleaner Lagos Initiative- a holistic reform of the entire waste management framework of Lagos State including the establishment of sustainable waste management systems with significant investments in infrastructure.
The award ceremony was held at the Eko Hotel & Suites in Victoria Island, Lagos. The Visionscape led consortium won awards in four categories; Innovation & Sustainability, Regulation & Compliance, Debts Products Listed & Quoted on FMDQ and, Listings & Quotations Stakeholder.
“We are honoured to be recognized by the management & Board of The FMDQ OTC Securities Exchange. Visionscape and its partners aim to be at the forefront of this historical project in Lagos, Nigeria and are proud to be part of the team bringing it to fruition. We will continuously strive to be the industry’s benchmark for social impact investments,” said John Irvine, Visionscape Africa, CEO.
The 5-year term Series I green notes raised N50 billion, and was oversubscribed by investors, setting an outstanding benchmark for future investments in green infrastructure bonds in Africa.
The popularity of the green bonds market has grown exponentially and the momentum has continued strong over the past few years. The involvement of debt capital markets to raise funds to unlock capital for green/environmental projects has become a priority globally as the switch to a greener economy presents significant business opportunities.