PROJECT

Projects

Summary of Investment Information

Project Number

46369

Company Name

CR SME FIRSTRAND PORTFOLIO I

Date SPI Disclosed

Sep 27, 2022

Country

South Africa

Region

Africa

Projected Board Date

Oct 27, 2022

Environmental Category

FI-2 - Limited

Status

Hold

Last Updated Date

Jul 13, 2023

Department

Regional Industry - FIG Africa

Industry

Financial Markets

Previous Events

Approved : Dec 8, 2022
Invested : Jul 27, 2023

Sector

Commercial Banking - General

Project Description

The project entails an IFC investment in FirstRand Bank Limited (‘FBL’ or the ‘Bank’) in the form of a US$150 million senior loan, to be disbursed in local currency, to support the Bank’s lending to small and medium enterprises (“SMEs”).

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation