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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.
General IFC Inquiries - IFC Communications:
Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: +1 202-473-3800
Fax: +1 202-974-4384
Financial Intermediary - The Standard Bank South Africa Limited:
Marc Hearn - Head of Strategic Funding
Phone: +27 11 344 5004
Email: Marc.Hearn@standardbank.co.za
Address: PO Box 61344, Guateng, South Africa
Website: www.standardbank.co.za
ACCESS TO INFORMATION
You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries
If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.
ACCOUNTABILITY MECHANISM OF IFC/MIGA
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