Project detail - SASFIN BANK LIMITED

SASFIN BANK LIMITED

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Who is our client

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.

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 we fund this project

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
9/30/2020 ZAR 390.00 MLN
Region
Africa
Country
South Africa
Sector
Financial Institutions
Signing date
8/23/2017
Total FMO financing
ZAR 195.00 MLN
Fund
FMO
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