SASFIN BANK LIMITED
Status: Completed investmentWhy disclosure?
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In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Sasfin Bank is a South African Tier 2 commercial bank which specialises in asset backed lending to SMEs. Sasfin was established as a family-owned textile importer in 1951 and shifted toward providing trade finance in 1970. Sasfin obtained its banking license and registered as a commercial bank in 1999. Sasfin is wholly owned by Sasfin Holdings Limited which obtained a listing on the JSE in 1987. The Bank provides secured loans to SMEs in the form of office and capital equipment leases, trade finance, debtor finance, and commercial property finance.
What is our funding objective?
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.
Why do we fund this investment?
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.
More investments
| Date | Total FMO financing |
|---|---|
| 11/1/2022 | ZAR 390.00 MLN |
- Region
- Africa
- Country
- South Africa
- Sector
- Financial Institutions
- Effective date
- 8/23/2017
- End date
- 5/21/2021
- Total FMO financing
- ZAR 195.00 MLN
- Funding
- FMO NV
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B