Spartan Technology Rentals (Spartan) is a South African financial services provider, established in 1981. The institution is fully specialised in asset backed lending to small and mid-sized businesses (SMEs) with a focus on technology assets including machinery, specialized equipment, software finance and working capital finance.
Fmo is providing a 5-year ZAR equivalent senior loan of USD 3.5 mln to Spartan to support their recent strategic change towards full SME dedication with a focus on specialised SME finance.
FMO's key rationale for the investment is to support and increase access to finance for SMEs in South Africa. Almost all of Spartana€™s targeted SMEs have limited access to credit from traditional banks which lack specialized knowledge and perceive these SMEs as high risk. Instead, these SMEs are forced to use short-term working capital or overdrafts to finance their acquisition of technology and other specialised equipment. This creates a cash flow mismatch and inhibits their growth activities.
+27 11 507 2500
Regent Place, 2nd Floor
Cradock Ave, Rosebank 2196
Johannesburg South Africa
ACCOUNTABILITY MECHANISM OF FMO
Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism.