Summary of Proposed Investment
Project Number
24635
Company Name
THE STANDARD BANK OF SOUTH AFRICA LTD.
Date SPI Disclosed
Apr 21, 2006
Country
Africa Region
Industry
Financial Markets
Projected Board Date
May 25, 2006
Status
Completed
Sector
Commercial Banking - General
Department
Regional Industry - FIG ME & Africa
Environmental Category
FI
Previous Events
Approved : May 25, 2006
Signed : Jun 2, 2006
Invested : Dec 20, 2006
Project Description
This project is Multi Country Facility (“MCF”) of up to $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.
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.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Norbert Hoffmann
Director: Group Capital Management, Group Finance
Standard Bank
Telephone: +27 (0)11 636 3712
Fax: +27 (0)11 631 8120
Director: Group Capital Management, Group Finance
Standard Bank
Telephone: +27 (0)11 636 3712
Fax: +27 (0)11 631 8120