Firstrand SL (IFC-40511)

Countries
  • South Africa
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 20, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
FIRSTRAND BANK LTD
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Project Cost (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Nov 30, 2017

Disclosed by Bank Nov 17, 2017


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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).
Investment Description
  • International Finance Corporation (IFC)
Contact Information
FirstRand Limited Raymond Morrison Senior Manager and Regional Head Banks and DFIs - Developed Markets +271 12824609 raymond.morrison@firstrand.co.za PO Box 786273 Sandton 2146 South Africa www.firstrand.co.za ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/