FIRSTRAND BANK LIMITED (FMO-55091)

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
Approved
Bank Risk Rating
A
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
Nov 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
FirstRand 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.
Investment Amount (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ FMO website

Updated in EWS Jan 16, 2019


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Project Description

Rand Merchant Bank ("RMB") is a division of FirstRand Bank Limited, one of the leading financial institutions in Africa. RMB is a leading African corporate and investment bank offering advisory, funding, trading, corporate banking and principal investing solutions. RMB is active in over 35 countries in Africa and also has branches in London and India and representative offices in Dubai and Shanghai. RMB is therefore well positioned to assist with trade and investment flows between Europe/the Middle East/Asia and Africa.

According to bank documents, by supporting RMB's trade finance activities, FMO helps addressing the trade finance gap thereby increasing the RMB's capacity to facilitate trade flows with- and within Africa.

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

*Contact information not 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