24635
THE STANDARD BANK OF SOUTH AFRICA LTD.
Apr 21, 2006
Africa Region
Africa
May 25, 2006
FI-3 - No Impact
Completed
Jun 3, 2021
Regional Industry - FIG ME & Africa
Financial Markets
Approved : May 25, 2006
Signed : Jun 2, 2006
Invested : Dec 20, 2006
Commercial Banking - General
This project is now closed.
This project is Multi Country Facility (“MCF”) of up to US$75 million to foster a multi-country partnership between Standard Bank Group Limited (“SBG” or the “Group”) and IFC. IFC’s facility would consist of subordinated / Tier 2 loans (IFC C loans) and would finance SBG’s majority-owned subsidiaries (“SBG Subsidiaries”) in DRC, Ghana, Kenya, Malawi, Mauritius, Mozambique, Tanzania, Uganda and Zambia. The financing would be subject to requisite regulatory approvals.
The project offers a unique opportunity to foster a strong partnership between one of the largest African banking groups and IFC. By providing the proposed loans to the local SBG Subsidiaries, IFC will help expand the Group’s operations in the region, enhancing SBG’s competitive position and bringing best practices and better access to high quality banking services and products to the respective markets.
|
Sub-Project |
Investment Date |
Board Approved IFC Investment |
Sub-Project Status |
|
Stanbic Ghana (25181) |
29 January 2007 |
$13 million |
Closed |
|
Stanbic Tanzania (25182) |
27 December 2006 |
$3 million |
Closed |
|
Stanbic Kenya (25183) |
30 June 2009 |
$10 million |
Closed |
|
Stanbic Zambia (25184) |
20 December 2006 |
$11 million |
Closed |
|
Stanbic DRC (25450) |
6 March 2009 |
$3 million |
Closed |
|
Standard Bank Mauritius (25451) |
14 November 2008 |
$20 million |
Closed |
As of February 2018, IFC had not invested in any of the following SBG subsidiaries: Mozambique, Malawi, Uganda and the original Project is now closed.
N/A
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