AfDB Invests $332 Million in Standard Bank to Expand SME Financing in South Africa

The African Development Bank (AfDB) has invested USD 332 million (ZAR 5.4 billion) in a capital markets security issued by Standard Bank Group Limited to expand financing for small and medium-sized enterprises (SMEs) across South Africa. The investment is expected to strengthen access to finance for businesses, including women-led enterprises, while supporting the country’s evolving banking sector. Alongside the investment, the Bank’s Affirmative Finance Action for Women in Africa (AFAWA) progra