BPL Sr Loan (IFC-40920)

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
FI
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
Jun 15, 2018
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
Business Partners Limited
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.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 47.67 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 600
Converted using 2018-05-08 exchange rate.
Project Cost (USD)
$ 47.67 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported 600
Converted using 2018-05-08 exchange rate.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 13, 2018

Disclosed by Bank May 8, 2018


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Project Description

The project consists of a 6-year ZAR600 million ($47.67 million) senior loan to Business Partners Limited (“BPL”). The IFC loan forms part of the SME Push Program and will strengthen BPL’s long-term funding position and support the expansion of its lending operations to underserved SMEs in South Africa.

Investment Description
  • International Finance Corporation (IFC)

The proposed investment consists of a 6-year senior loan of up to ZAR600 million (~US$48 million equivalent). The funding will be used exclusively for expanding BPL’s lending operations to SMEs, with a particular focus on women-owned SMEs.

Private Actors

Business Partners Limited has a diversified shareholding composed of a mix of entities including government, local commercial banks, insurance companies, other corporate bodies and individuals. The principal shareholder is Eikenlust (pty) Limited, a subsidiary of Remgro Ltd, with a 42.8% stake.

Contact Information

Business Partners Ltd. 
Mark Paper 
Chief Operating Officer 
+27 0117136600 
mpaper@businesspartners.co.za 
37 West Street Houghton Estate, Johannesburg, South Africa 
www.businesspartners.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/