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
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The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org