Original disclosure @ IFC website
Updated in EWS Sep 29, 2022
Disclosed by Bank Sep 27, 2022
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According to bank provided information, 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”).
FirstRand Bank Limited is a financial institution wholly owned by FirstRand Limited (‘FRL’ or the ‘Group’), one of the largest financial institutions in Africa which provides banking, insurance, investment products and services to retail, commercial and corporates customers. FRL is listed on the Johannesburg Stock Exchange and the Namibian Stock Exchange with floating representing 73 percent of shares. Public Investment Corporation, a government-owned South African asset management company, is FRL’s largest shareholder with a 14.7 percent equity stake. FRB is the largest operating entity of the Group and the second largest financial institution in South Africa
Andries Johannes du Toit
+27 11 282 4922
4 Merchant Place, Corner Fredman and Rivonia Road, Sandton, 2196 South Africa
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