THE AFRICA TIMES | SOUTH AFRICA — The African Development Bank (AfDB) and Standard Bank Group have signed a financing agreement amounting to $332 million (ZAR 5.4 billion). This initiative aims to expand access to credit for small and medium-sized enterprises (SMEs) in South Africa, focusing primarily on women-led businesses. The partners intend to drive entrepreneurship, job creation, and inclusive economic growth.
Financing Structure and Objectives
Announced this week, this financing was facilitated through a capital markets security issued by Standard Bank Group, Africa’s largest lender by total assets. The facility is structured as a Financial Loss Absorbing Capacity (FLAC) instrument and represents the first development finance institution-backed social FLAC instrument to be listed on the Johannesburg Stock Exchange (JSE).
Under the agreement,
