FirstRand Bank

Press release

October 16, 2020

FinDev Canada supports the growth of lending activities in South Africa with USD 20 million loan to FirstRand.

Press Releases

FinDev Canada announces a USD 20M loan to FirstRand, one of South Africa’s leading financial institutions.

Supporting decent employment: FirstRand itself maintains over 48,000 high quality, permanent and temporary jobs, offering benefits including financial training and advancement opportunities, parental leave, vacation days, social security, and life and health insurance.
Strengthen local SMEs and value chains: FirstRand Bank supports the local economy by on-lending to SME clients.
Financial services for SMEs: FirstRand’s financial products include consumer, housing, and SME loans, in addition to credit cards, renewable energy investments and investment banking.
GDP contribution through economic value-added: The transaction will contribute economic value, directly and indirectly to local economies.

Supporting decent employment: FirstRand itself maintains over 48,000 high quality, permanent and temporary jobs, offering benefits.

Support women’s business ownership: FirstRand Bank is committed to channeling 30% of FinDev Canada’s loan towards women-owned and women-led companies.
Support women’s leadership, and employment: As an employer, FirstRand Bank maintains a high participation of women throughout the organization, has women represented on its board of directors, and in Top Management positions.

Contribute to the transition to a low-carbon economy: FirstRand Bank has made investments to mitigate the impact of climate change by supporting companies bidding for renewable energy projects.
CO2 equivalent emissions avoided: Within its internal operations, FirstRand Bank has leveraged its climate and environmental experts to measure its carbon footprint, avoid emissions, and set long-term energy and carbon reduction targets for its South African operations.