South Africa: FirstRand secures $20mln loan to strengthen operations
Wednesday, 21 October 2020 17:59
FirstRand, one of Africa’s largest financial institutions, secured a new credit line of $20 million to strengthen its private sector financing activity. The Johannesburg Stock Exchange-listed bank plans to deploy innovative lending solutions for its 700,000 clients.
The financial institution headed by Alan Pullinger (pictured) will pump 30% of the resources into women-led initiatives. FirstRand has supported more than 30,000 women entrepreneurs. With this strategy, FirstRand Limited is redefining its priorities in terms of support for private sector players. In addition to being good savers and responsible clients, as highlighted in the October 2020 joint study by the International Finance Corporation and the FMO, women are increasingly being brought into corporate management. 29% of companies in sub-Saharan Africa are owned by women, according to World Bank statistics of March 2020.
The line of credit obtained by FirstRand Limited is an initiative of Findev Canada, a Canadian institution that provides financial services to the private sector in developing countries.
Chamberline MOKO
Live News
-
Safacam Plans Higher Dividend as Profits Rise but Earnings Stay Uneven
04:30
-
Cameroon Reviews Metals Industry to Address Supply and Energy Constraints
04:16
-
CEMAC Plans Tighter FX Rules, but CFA6 Trillion Still Beyond Reach
21:31
-
Douala Port Expands Niger Transit Trade but Faces Strong Regional Competition
21:28
-
Cameroon’s Soap Exports Surge, Driving Revenue Growth Despite Supply Constraints
21:11
-
Derrick Bundi Builds Cross-Border Payments Platform With Pretium
21:00
-
Ng'winula Kingamkono Builds Debt-Free E-Commerce Platform in Tanzania
20:56
-
Chad Moves to Modernize Digital Laws Amid Technology Surge
20:52
-
Togo launches programme to train 240 women in heavy truck driving
20:15
-
Gozem in talks to secure €21 million from IFC to fund expansion
19:57
Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...
Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchi...
Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...
From eastern Chad, where measles and meningitis are spreading through overcrowded refugee camps, to ...
As the Japanese automaker faces global headwinds, it is doubling down on its operations in Egypt, ai...
Cameroon’s exports of household bar soap rose sharply in 2025, reaching 74,208 tons, up from 56,624 tons in 2024, according to the latest foreign trade...
Burkina Faso targets 6.1% growth in 2027 under plan Revenues and spending rising; deficit projected near 2.8% GDP Outlook supported by gold,...
IMF approves $266M RSF financing for Liberia climate resilience Additional $26M disbursed under ECF, total...
Axian Telecom partners with Oracle to unify management systems Platform to enable AI rollout, improve governance and...
The history of Kerma stretches back several millennia. Located in what is now northern Sudan, the site was inhabited as early as prehistoric times....
CANAL+'s film arm backs a ZAR 300-million feature rooted in South Africa's anti-apartheid music movement. Production kicks off June 29 in Cape Town,...