FIRSTRAND BANK LIMITED
Status: Approved investmentWhy disclosure?
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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
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
What is our funding objective?
Trade finance is an important mean to promote and facilitate trade in- and between emerging markets. With African economies on the rise again, there is increasing demand for trade finance lines. Various recent studies have indicated a multi-billion trade finance gap annually in Africa alone as the international financial crisis saw many international banks pulling back from emerging markets. 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
Why do we fund this investment?
FirstRand bank and its division RMB are highly reputable banking institutions with deep African roots and outreach. By supporting RMB’s trade finance activities, FMO indirectly reaches many African countries, banking institutions and ultimately businesses in these countries that are in need of access to trade finance to support their business activities. As such, our collaboration with RMB contributes to reducing inequalities, and promoting economic growth and employment.
More investments
| Date | Total FMO financing |
|---|---|
| 11/21/2023 | USD 50.00 MLN |
| 8/4/2020 | USD 75.00 MLN |
- Website customer/investment
- http://www.firstrand.co.za
- Region
- Africa
- Country
- South Africa
- Sector
- Financial Institutions
- Effective date
- 11/15/2018
- Total FMO financing
- USD 50.00 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) - A