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This USD 50 million loan is part of a USD 100 million financing syndicated by the German development finance institution DEG.

This operation will enable FirstRand Bank to develop its SME loan portfolio and thus better meet the needs of the South African private sector.

A major player in the South African banking sector, FirstRand Bank is a long-standing partner of Proparco. This is the 7th transaction between Proparco and FirstRand Bank in less than 20 years. The last 3 operations, signed in 2010, 2012 and 2016, were also dedicated to SME financing in the country.