Project detail - FIRSTRAND BANK LIMITED

FIRSTRAND BANK LIMITED

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Who is our client

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

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 we fund this project

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.

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Date Total FMO financing
8/4/2020 USD 75.00 MLN
Website client
http://www.firstrand.co.za
Region
Africa
Country
South Africa
Sector
Financial Institutions
Signing date
11/15/2018
Total FMO financing
USD 50.00 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)
A