{"id":265466,"date":"2025-11-14T04:58:14","date_gmt":"2025-11-14T05:58:14","guid":{"rendered":"https:\/\/www.premium-partners.net\/?p=265466"},"modified":"2025-11-14T07:04:26","modified_gmt":"2025-11-14T07:04:26","slug":"afdb-approves-r5bn-facility-for-firstrand-to-boost-smes-women-entrepreneurs-in-sa","status":"publish","type":"post","link":"https:\/\/www.premium-partners.net\/fr\/builder\/afdb-approves-r5bn-facility-for-firstrand-to-boost-smes-women-entrepreneurs-in-sa\/","title":{"rendered":"AfDB approves R5bn facility for FirstRand to boost SMEs, women entrepreneurs in SA"},"content":{"rendered":"<p>This <a target='_blank' rel=\"nofollow\" href=\"https:\/\/www.iol.co.za\/business-report\/companies\/afdb-approves-r5bn-facility-for-firstrand-to-boost-smes-women-entrepreneurs-in-sa-c56be4ef-27fd-449c-b88b-b3a7a9765dbd\">post<\/a> was originally published on <a target='_blank' rel=\"nofollow\" href=\"https:\/\/www.iol.co.za\/\">this site<\/a><\/p><p><img decoding=\"async\" src=\"https:\/\/image-prod.iol.co.za\/16x9\/800?source=https:\/\/iol-prod.appspot.com\/image\/549ab0226fe38d268b7f77be90bee9032e26b79c\/1300&amp;operation=CROP&amp;offset=174x0&amp;resize=951x535\" class=\"type:primaryImage\" \/><\/p>\n<p>The African Development Bank (AfDB) has approved a $310 million (R5.6 billion) financial package for FirstRand Bank&nbsp;to expand access to finance for micro, small and medium-sized enterprises (MSMEs), particularly women-led businesses and agribusinesses in South Africa.<\/p>\n<p>The bank said support, announced on Thursday, reflects the its continued support for private-sector-led growth and&nbsp;confidence in FirstRand\u2019s commercial arm, FNB, and its ability to drive inclusive growth and socio-economic transformation across South Africa.<\/p>\n<p>The comprehensive package consists of three key components:<\/p>\n<ul>\n<li>\n<p>$200 million line of credit to support MSMEs across various sectors;<\/p>\n<\/li>\n<li>\n<p>$100 million gender-focused line of credit for women-owned or women-led MSMEs; and<\/p>\n<\/li>\n<li>\n<p>$10 million concessional loan under the Agri-Food SME Catalytic Financing Mechanism (ACFM) targeting women-owned agribusinesses.<\/p>\n<\/li>\n<\/ul>\n<p>\u201cThis approval highlights the African Development Bank&#8217;s dedication to bolstering the private sector and fostering inclusive economic growth in South Africa,\u201d said Kennedy Mbekeani, AfDB\u2019s director general for Southern Africa.<\/p>\n<p>\u201cBy channeling these resources through FirstRand and, in particular, its commercial banking franchise, FNB, we are working with trusted partners with extensive reach to ensure that MSMEs \u2014particularly those led by women \u2014have access to the capital they need to grow, create jobs, and contribute to South Africa&#8217;s economic development.\u201d<\/p>\n<p>A strong gender focus defines this facility, with over one-third ($110m) of the total financing ring-fenced for women entrepreneurs. The initiative aligns with the AfDB\u2019s Affirmative Finance Action for Women in Africa (AFAWA) and ACFM programs, which aim to close Africa\u2019s gender finance gap.<\/p>\n<p>The concessional funding is specifically designed to improve access to affordable credit for women-owned small businesses in agriculture, a sector where smallholder farmers often face barriers to formal financing.<\/p>\n<p>Most smallholder farmers in South Africa remain excluded from accessing bank credit, yet they make up a significant proportion of the farming population.<\/p>\n<p>The financial package will also be supported by technical assistance and performance-based incentives through the AFAWA and ACFM programs of the AfDB.<\/p>\n<p>These measures aim to enhance the bankability of women-led enterprises, strengthen FNB\u2019s agriculture financing capabilities, and explore alternative credit scoring models.<\/p>\n<p>\u201cThe approval of this financing package represents a significant milestone and elevation of this impactful partnership between the African Development Bank and FirstRand,\u201d said Ahmed Attout, director of the financial sector development department at the AfDB.<\/p>\n<p>\u201cIt demonstrates both institutions&#8217; shared commitment to driving inclusive economic growth and empowerment of the heavily credit-deprived business communities of South Africa by deliberately channeling credit to women entrepreneurs and smallholder farmers.\u201d<\/p>\n<p>A year ago, the&nbsp;AfDB and the African Guarantee Fund (AGF) launched the AFAWA Finance Series in a significant step towards fostering gender equity in entrepreneurship.<\/p>\n<p>This initiative is poised to reshape the financial landscape for women-owned and women-led businesses, creating a robust pathway for sustainable and long-term growth in the small and medium enterprise (SME) sector.<\/p>\n<p><span>Aimed at unlocking $5bn by 2026 to support 30 000 women-led SMEs, this initiative has already garnered substantial backing. The AfDB has approved $1.8bn and disbursed $1bn, benefiting more than 18 000 women entrepreneurs through 172 financial institutions across 43 African nations.<\/span><\/p>\n<p>This recent operation announced on Thursday aligns with the AfDB\u2019s High 5 development priorities and its 10-Year Strategy (2024\u20132033), which focus on inclusive growth, private sector development, and gender equality.<\/p>\n<p>Bhulesh Singh, FirstRand Group Treasurer, said the financing will support South Africa\u2019s economic recovery through small business growth.<\/p>\n<p>\u201cMSMEs are significant contributors to South Africa\u2019s economic growth, supporting job creation and community upliftment,\u201d Singh said.<\/p>\n<p>\u201cFirstRand\u2019s commercial banking arm, FNB, has demonstrated a strong track record in providing capacity to women-owned businesses and small businesses in the agricultural sector, which in turn supports community development.\u201d<\/p>\n<p><strong>BUSINESS REPORT<\/strong><\/p>","protected":false},"excerpt":{"rendered":"<p>The African Development Bank (AfDB) has approved a $310 million (R5.6 billion) financial package for FirstRand Bank\u00a0to expand access to finance for micro, small and medium-sized enterprises (MSMEs), particularly women-led businesses and agribusinesses in South Africa.The bank said support, announced on Thursday, reflects the its continued support for private-sector-led growth and\u00a0confidence in FirstRand\u2019s commercial arm, FNB, and its ability to drive inclusive growth and socio-economic transformation across South Africa.The comprehensive package consists of three key components:$200 million line of credit to support MSMEs across various sectors;$100 million gender-focused line of credit for women-owned or women-led MSMEs; and$10 million concessional loan under the Agri-Food SME Catalytic Financing Mechanism (ACFM) targeting women-owned agribusinesses.\u201cThis approval highlights the African Development Bank&#8217;s dedication to bolstering the private sector and fostering inclusive economic growth in South Africa,\u201d said Kennedy Mbekeani, AfDB\u2019s director general for Southern Africa.\u201cBy channeling these resources through FirstRand and, in particular, its commercial banking franchise, FNB, we are working with trusted partners with extensive reach to ensure that MSMEs \u2014particularly those led by women \u2014have access to the capital they need to grow, create jobs, and contribute to South Africa&#8217;s economic development.\u201dA strong gender focus defines this facility, with over one-third ($110m) of the total financing ring-fenced for women entrepreneurs. The initiative aligns with the AfDB\u2019s Affirmative Finance Action for Women in Africa (AFAWA) and ACFM programs, which aim to close Africa\u2019s gender finance gap.The concessional funding is specifically designed to improve access to affordable credit for women-owned small businesses in agriculture, a sector where smallholder farmers often face barriers to formal financing.Most smallholder farmers in South Africa remain excluded from accessing bank credit, yet they make up a significant proportion of the farming population.The financial package will also be supported by technical assistance and performance-based incentives through the AFAWA and ACFM programs of the AfDB.These measures aim to enhance the bankability of women-led enterprises, strengthen FNB\u2019s agriculture financing capabilities, and explore alternative credit scoring models.\u201cThe approval of this financing package represents a significant milestone and elevation of this impactful partnership between the African Development Bank and FirstRand,\u201d said Ahmed Attout, director of the financial sector development department at the AfDB.\u201cIt demonstrates both institutions&#8217; shared commitment to driving inclusive economic growth and empowerment of the heavily credit-deprived business communities of South Africa by deliberately channeling credit to women entrepreneurs and smallholder farmers.\u201dA year ago, the\u00a0AfDB and the African Guarantee Fund (AGF) launched the AFAWA Finance Series in a significant step towards fostering gender equity in entrepreneurship.This initiative is poised to reshape the financial landscape for women-owned and women-led businesses, creating a robust pathway for sustainable and long-term growth in the small and medium enterprise (SME) sector.Aimed at unlocking $5bn by 2026 to support 30 000 women-led SMEs, this initiative has already garnered substantial backing. The AfDB has approved $1.8bn and disbursed $1bn, benefiting more than 18 000 women entrepreneurs through 172 financial institutions across 43 African nations.This recent operation announced on Thursday aligns with the AfDB\u2019s High 5 development priorities and its 10-Year Strategy (2024\u20132033), which focus on inclusive growth, private sector development, and gender equality.Bhulesh Singh, FirstRand Group Treasurer, said the financing will support South Africa\u2019s economic recovery through small business growth.\u201cMSMEs are significant contributors to South Africa\u2019s economic growth, supporting job creation and community upliftment,\u201d Singh said.\u201cFirstRand\u2019s commercial banking arm, FNB, has demonstrated a strong track record in providing capacity to women-owned businesses and small businesses in the agricultural sector, which in turn supports community development.\u201dBUSINESS REPORT<\/p>","protected":false},"author":1,"featured_media":265468,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-265466","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-builder"],"_links":{"self":[{"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/posts\/265466","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/comments?post=265466"}],"version-history":[{"count":1,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/posts\/265466\/revisions"}],"predecessor-version":[{"id":265467,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/posts\/265466\/revisions\/265467"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/media\/265468"}],"wp:attachment":[{"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/media?parent=265466"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/categories?post=265466"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.premium-partners.net\/fr\/wp-json\/wp\/v2\/tags?post=265466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}