PROJECT

Projects

Summary of Investment Information

Project Number

40511

Company Name

FIRSTRAND BANK LTD

Date SPI Disclosed

Nov 17, 2017

Country

South Africa

Region

Africa

Projected Board Date

Dec 20, 2017

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

May 13, 2018

Department

Regional Industry - FIG ME & Africa

Industry

Financial Markets

Previous Events

Approved : Dec 20, 2017
Signed : Dec 31, 2017
Invested : May 11, 2018

Sector

Commercial Banking - SME Finance

Additional Project Attributes

Blended Finance

Project Description

The proposed project with FirstRand Bank (“FRB”), an existing IFC client, is a senior loan of up to US$100 million of which up to US$50 million will be allocated for on-lending to women-owned SMEs and promote Banking on Women (BoW).

Associated Advisory Engagement

A  potential advisory component targeting the Bank’s women-owned SME borrowers may complement IFC’s efforts to support and expand gender finance in the country.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation