The African Development Bank has invested USD 332 million (ZAR 5.4 billion) in a capital markets security issued by Standard Bank Group Limited, Africa’s largest bank by total assets, to finance small and medium-sized enterprises (SMEs) across South Africa. Luvuyo Masinda, Chief Executive of Corporate and Investment Banking at Standard Bank Group, said: “We are delighted to close another landmark transaction with the AfDB, following the successful 2024 transactions. This transaction deepens a longstanding partnership between the African Development Bank and Standard Bank Group, dating back to 2008. It builds on the Bank’s November 2024 approval of a ZAR 3.6 billion subordinated debt facility for Standard Bank Group and a $200 million risk participation agreement with The Standard Bank of South Africa, in support of trade finance across Africa. Image caption:From left: Bill Blackie, Chief Executive of Business and Commercial Banking at Standard Bank Group, Kennedy Mbekeani, African Development Bank Director General for Southern Africa and Country Manager for South Africa, and Luvuyo Masinda, Chief Executive of Corporate and Investment Banking at Standard Bank Group.