signed two new guarantees, strengthening their relationship in SA. The guarantees are in line with the Choose Africa initiative to accelerate the growth of micro, small and medium enterprisesand entrepreneurship in Africa.
The EURIZ ZAR-denominated loan portfolio guarantee will focus on EURIZ-eligible sectors such as the fintech, agriculture, green economy, education and healthcare sectors, as well as women- and youth-owned enterprises, allowing the bank to expand its SME lending activities into high impact sectors. The grant has benefited from support from the EU and the Organisation of African, Caribbean and Pacific States.
Standard Bank was one of the first banks to proactively offer client relief initiatives during the Covid-19 crisis Standard Bank is an existing partner of Proparco, having benefited from Proparco’s Unlock Guarantee in 2018, in the context of Standard Bank’s R618m senior debt facility to the Alten Solar Power photovoltaic plant in Namibia.
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