SASFIN BANK LIMITED (FMO-52269)

Countries
  • South Africa
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
B
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
Aug 23, 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
Sasfin Bank
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.
Loan Amount (USD)
$ 14.30 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 ZAR 195.00 MLN
Converted using 2017-10-21 exchange rate.
Investment Amount (USD)
Not Disclosed
When disclosed, the bank did not provide this value. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ FMO website

Updated in EWS Apr 9, 2018


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Project Description

FMO is providing a syndicated loan facility, which will be used by Sasfin to provide office equipment finance to South African SMEs. Supporting the SME segment will generate economic growth and have a positive impact on job creation. Furthermore, through this syndicate FMO is able to introduce one of its strategic partners to Sasfin.
Sasfin is a longstanding partner of FMO and continues to have a strong focus on the SME sector in South Africa. Through this loan, FMO hopes to contribute to the financial support provided to SMEs in South Africa as Sasfin is one of the few financial institutions in the country that has a strong focus on SMEs.

Investment Description
  • Netherlands Development Finance Company (FMO)
Contact Information

*No project contacts provided at the time of disclosure.*

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.