African Development Bank Group (BAD) has approved $310 million in financing for FirstRand Bank, a wholly-owned subsidiary of the FirstRand group. This funding aims to expand access to credit for micro, small and medium-sized enterprises (MSMEs) in South Africa.

ADB financing consists of three components strategic: a 200 million dollar line of credit intended to be redistributed to MSMEs in various sectors; a line of cr é says sexosp é cific of 100 millions of dollars d é di mso-bidi-font-family: "Bookman Old Style">é e to MSMEs d é line-height: 107%; font-family: "Bookman Old Style”, serif">held by women; and a line of cr é says concession of ten millions dollars from M é canism catalytic financing for agri-food SMEs and targeting small agricultural enterprises d é outfits by women.

According to Kennedy Mbekeani, Group CEO from the African Development Bank for Southern Africa, “this Approval underlines the will of the African Development Bank to supporting the private sector and fostering inclusive economic growth in South Africa ”.

Noted that In its design, this concession financing is reserved for small businesses owned by women and operating in the agricultural sector South African in order to significantly increase their access to credit affordable on favorable terms. Most smallholder farmers farmers in South Africa remain excluded from access to bank credit so that they represent a significant portion of the agricultural population.