OUR ESG PROFILE
Our commitment to providing modern urban infrastructure and retail property solutions on the continent plays a substantial role in the growth and development of the local economies we invest in.
OUR 4 KEY PILLARS
Economic: Not only do our projects inject money into local economies through job creation, but they also create sustainable economic ecosystems that can continue generating revenue indefinitely by supporting independent businesses.
Environment: We strive to minimize the negative environmental impact of retail assets through strategies that reduce carbon emissions, sustain biodiversity and decrease over-reliance on scarce resources.
Governance: Foremost in Terrace Africa’s operational priorities is the need for ethical conduct and good governance, which means continually striving for best practices and having a zero-tolerance policy for corruption.
Societal: Developing infrastructure that promotes community upliftment and drives happier, healthier lives is at the centre of Terrace Africa’s business.
OUR ECONOMIC IMPACT
At the heart of Terrace Africa’s work is the provision of new commercial infrastructure that creates local economic upliftment, supports small local businesses, and fosters entrepreneurship.
At a glance:
• 6,000 formal employment opportunities created over 10 years
• 5,000 direct & indirect jobs created during construction projects
• USD 12mn spent on surrounding infrastructure upgrades across our developments
• USD 120mn invested in local economies to date through our projects
• 167 local and regional businesses operating at our assets
Terrace Africa is responsible for:
- Reducing inequality within and among the countries we operate in through direct and indirect job creation
- Generating new formal employment opportunities through the trading activities of our malls
- Helping domestic retailers and local entrepreneurs grow their businesses
- Increasing tax revenue paid to governments through direct property taxes, increased revenues from retailers and formalizing part of the informal trade
- Improving access to services and increasing opportunities for local people
- Creating wealth and financial freedom for local individuals through capital market issuances
- Improving the surrounding infrastructure of developments with investments in roads, traffic lights etc.
- Increasing general business confidence and foreign direct investment through successful delivery of our projects
- Using mostly local companies for both the construction and management phases of our assets
