According to the IFC, the proposed project consists of a senior unsecured loan to The Standard Bank of South Africa Limited to support the Bank’s renewable energy and affordable housing finance program in South Africa.
The IFC categorized the project as FI-2.
As stated by the IFC, SBSA is a leading bank in South Africa with about 26 percent market share in terms of total assets. In December 2022, the Bank had total assets of US$109 billion, net loans of US$74 billion, customer deposits of US$77 billion and equity of US$7.4 billion. SBSA is a wholly owned subsidiary of Standard Bank Group Limited (SBG), Africa’s largest financial services group by assets. SBG is listed on the Johannesburg Stock Exchange and employs almost 50,000 people across twenty countries across sub-Saharan Africa and has international representative offices in London, New York, Sao Paulo, Dubai and Beijing.
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Financial Intermediary - The Standard Bank South Africa Limited:
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