FIRSTRAND BANK LIMITEDStatus: Approved investment
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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.
|Date||Total FMO financing|
|8/4/2020||USD 75.00 MLN|
- Website customer/investment
- South Africa
- Financial Institutions
- Effective date
- Total FMO financing
- USD 50.00 MLN
- 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)