New Member: FNB joins SME Finance Forum to expand financing to small businesses
Jul 31, 2020
Washington, D.C., July 31st, 2020 – FNB became the newest member of the SME Finance Forum, a global membership network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs.
“40 percent of small and medium businesses worldwide struggle to get access to the credit and capital that they need to grow their enterprises. We are delighted to welcome FNB to our network of more than 190 members who are working to eliminate the finance gap for SMEs,” said Matthew Gamser, CEO of the SME Finance Forum.
To see all SME Finance Forum members, please visit: https://www.smefinanceforum.org/members/member-list
FNB provides personal, commercial, and corporate banking services to more than 6 million customers across South Africa. In 2007, they created the FNB Fund to support the development of South African communities through partnerships with non-profit organizations. For the past 2 consecutive years, they’ve been voted as South Africa’s Best Digital Bank for their innovative banking solutions and service, enabling customers to manage their money anywhere, anytime.
“The SME Finance Forum has made great strides over the past eight years to raise the level of SME finance globally, and we are excited to join as a member. This collaboration is good news for small businesses in South Africa. We look forward to cooperating with the SME Finance Forum through its global network of members and partners to identify new innovative solutions and best practice to help narrow the finance gap for SMEs,” said Jesse Weinberg, Head of the SME Customer Segment at FNB.
About SME Finance Forum
The SME Finance Forum was established by the G20 Global Partnership for Financial Inclusion (GPFI) in 2012 as a knowledge center for data, research, and best practice in promoting SME finance. As an implementing partner for the GPFI, the International Finance Corporation (IFC) was tasked with managing the initiative.
FNB is the oldest bank in South Africa and is also known as one of South African’s “big 5” banks. It is a division of FirstRand Bank Limited, a financial services conglomerate, which trades on the Johannesburg Securities Exchange (JSE). As a financial institution, FNB provides personal, private, business, commercial, and corporate banking services to millions of customers across South Africa.