AfDB invests $332M in Standard Bank to boost SME loans

The African Development Bank (AfDB) has committed $332 million (approximately R5.4 billion) toward a capital markets debt security issued by Standard Bank Group. The proceeds are strictly earmarked to expand access to finance for small and medium-sized enterprises (SMEs) across South Africa, with a deliberate focus on bridging the gender financing gap. In addition to the primary debt investment, the AfDB has approved a R16 million ($1 million) Technical Assistance grant under its Affirmative Fin