Close Menu
    Trending
    • 31 business leaders receive honours at Ghana Entrepreneurs Foundation’s 15th anniversary
    • African Paralympic Committee President concludes Nigeria visit ahead of Games
    • Mid-Year Budget delivers numbers, not jobs – Prof Charles Ackah warns of hollow gains
    • Hearts of Oak recruit youngster Frank Duku to bolster squad ahead of new season
    • NSMQ 2025: Achimota School dethrones Presec to win Greater Accra championship title
    • We don’t need to sign Maradona or Pele for CAF Champions League campaign – GoldStars coach
    • Lancaster University Ghana empowers future tech leaders through emerging technologies weekend programme
    • We all need stronger voices to challenge us
    zamzamupdate.com/ News on the GO
    • Home
    • Ghana News
    • News Updates
    • Sports
    • Business
    • Politics
    • Entertainment
    zamzamupdate.com/ News on the GO
    Home»Business»African Development Bank and Standard Bank join forces to support SMMEs and boost trade
    Business

    African Development Bank and Standard Bank join forces to support SMMEs and boost trade

    ZamZam UpdateBy ZamZam UpdateMarch 8, 2025No Comments2 Mins Read
    Share Facebook Twitter Pinterest LinkedIn Tumblr Reddit Telegram Email
    Share
    Facebook Twitter LinkedIn Pinterest Email


    On Monday, the African Improvement Financial institution Group and Commonplace Financial institution Group (SBG) signed a landmark monetary settlement geared toward enhancing funding for small, medium, and micro enterprises (SMMEs) and increasing commerce throughout Africa.

    The settlement features a R3.6 billion funding in a social bond and a $200 million Danger Participation Settlement (RPA) for Commonplace Financial institution of South Africa Restricted (SBSA), designed to strengthen the financial institution’s lending capability and supply higher entry to finance for SMMEs, that are important to financial development and job creation in South Africa.

    The social bond funding focuses on inclusive financial growth, significantly for SMMEs with a turnover beneath R300 million and mortgage sizes beneath R40 million. It should assist as much as 4,000 companies, serving to them scale their operations, create jobs, and contribute to financial resilience.

    Kenny Fihla, Deputy CEO of Commonplace Financial institution Group and CEO of SBSA, expressed enthusiasm for the partnership, stating: “This landmark partnership enhances our capacity to assist SMMEs, the spine of South Africa’s economic system. With round 3.2 million SMMEs offering 60% of jobs, making certain entry to finance is crucial. This initiative aligns with our Sustainable Finance Framework and our dedication to monetary inclusion.”

    Along with the social bond, the $200 million RPA goals to bolster commerce finance throughout Africa, with a specific give attention to Low-Revenue International locations and Transition States. By enabling native banks to extend lending via shared danger, the settlement addresses the commerce finance hole and promotes intra-African commerce.

    Leila Mokaddem, Director Common for Southern Africa on the African Improvement Financial institution, highlighted the partnership’s broader affect, saying, “This collaboration marks a major milestone in our long-standing relationship and displays our shared dedication to supporting SMMEs and enhancing commerce finance. Increasing monetary inclusion and commerce alternatives empowers companies to drive financial transformation and regional integration.”

    This initiative additionally aligns with the African Improvement Financial institution’s Ten-Yr Technique (2024–2033), which prioritises industrialisation, regional integration, and enhancing high quality of life throughout Africa.

    DISCLAIMER: The Views, Feedback, Opinions, Contributions and Statements made by Readers and Contributors on this platform don’t essentially characterize the views or coverage of Multimedia Group Restricted.



    Source link
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleInternational Women’s Day: 10 Women shaping Ghana’s political landscape
    Next Article Accelerate Action: Vice-President calls for more push on women empowerment
    ZamZam Update
    • Website

    Related Posts

    Business

    Mid-Year Budget delivers numbers, not jobs – Prof Charles Ackah warns of hollow gains

    August 2, 2025
    Business

    Lancaster University Ghana empowers future tech leaders through emerging technologies weekend programme

    August 2, 2025
    Business

    Ghana Hubs Network rallies innovation ecosystem for resilience and inclusion

    August 2, 2025
    Add A Comment
    Leave A Reply Cancel Reply

    Top Posts

    Cedi’s appreciation could lead to revision of programme targets – IMF 

    June 13, 2025

    FBI finally charges Dada Joe Remix and other Ghanaians in romance fraud scheme

    June 18, 2025

    Man must speak truth before death – Reggie Zippy opens up on ex-wife’s ‘torture’

    April 17, 2025

    Celebrating Melvina Amoafo: A Legacy of excellence in Ghana’s capital market

    June 7, 2025

    International Women’s Day: 10 Women shaping Ghana’s political landscape

    March 8, 2025
    Categories
    • Business
    • Entertainment
    • Ghana News
    • News Updates
    • Politics
    • Sports
    Most Popular

    31 business leaders receive honours at Ghana Entrepreneurs Foundation’s 15th anniversary

    August 2, 2025

    GBA Bartenders Masterclass returns to redefine mixology in Ghana

    February 2, 2025

    Breaking News: Unknown person stabbed Asante Kotoko diehard supporter Pooley to death

    February 2, 2025
    Our Picks

    Elliott’s late goal secures Liverpool dramatic win over PSG in Champions League

    March 5, 2025

    Sam George meets TikTok team, demands fair pay for Ghanaian creators

    June 28, 2025

    Police Ladies dethrone Ampem Darkoa Ladies to clinch maiden Women’s Premier league title

    May 19, 2025
    Categories
    • Business
    • Entertainment
    • Ghana News
    • News Updates
    • Politics
    • Sports
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • About us
    • Contact us
    Copyright © 2025 Zamzamupdate.com All Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.