Micro, small and medium businesses (MSMEs) in South Africa are to benefit from a US$100 million loan from the IFC to First Rand Bank (FRB).

African Business Communities reports that the funding, to be deployed by FRB subsidiary First National Bank, will benefit MSMEs in high-impact sectors that face substantial barriers to access credit.

‘South Africa’s small business sector is central to employment, innovation and economic growth. Through this investment, IFC and FirstRand Bank will help create jobs, strengthen value chains and improve livelihoods,’ according to Aliou Maiga, regional industry director for the IFC’s Financial Institutions Group in Africa.

The loan falls under the SME Envelope on the IFC’s MSME Finance Platform, and matures in five years.

According to the IFC, its SME Envelope focuses on priority segments such as women entrepreneurs, agriculture SMEs and SME climate financing.

30 September 2025
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