AFRICAN BANK INVESTMENTS LIMITED - IFC becomes an equity investor in ABIL

IFC becomes an equity investor in ABIL

AFRICAN BANK INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa) (Registration number 1946/021193/06)
(Ordinary share code: ABL) (ISIN: ZAE000030060)
(Preference share code: ABLP) (ISIN: ZAE000065215)
(“ABIL” or “the company”)


IFC becomes an equity investor in ABIL


ABIL has been informed by IFC, a member of the World Bank Group, pursuant to the IFC acquiring 22.5million nil
paid letters on the open market and exercising the rights attached to those letters, that IFC now holds
approximately 22.5million ordinary shares in the company. This represents a 1.5% beneficial holding in the full
issued share capital of the company after the successful conclusion of the rights offer announced in the SENS
announcement “Results of the Rights” released on 9 December 2013.

The investment supplements the existing R 350million Tier 2 capital investment by the IFC in African Bank
Limited made in 2009, and further reinforces the long term strategic relationship between ABIL and IFC.

IFC is the largest global development institution focused exclusively on the private sector. Working
with private enterprises in more than 100 countries, IFC uses its capital, expertise, and influence to
help eliminate extreme poverty and promote shared prosperity. IFC leverages the power of the private
sector to create jobs and tackle the world’s most pressing development challenges.

ABIL’s CEO Leon Kirkinis said: “IFC’s developmental agenda is squarely in line African Bank’s purpose, which is
to impact positively on people’s lives through the provision of credit-led, risk-based financial services. We
welcome this next step in our long term relationship with IFC, which we firmly believe is the interest of our
customers and our other stakeholders, and to the mutual benefit of both of our organisations”

IFC Senior Country Manager for Southern Africa, Saleem Karimjee said, “ABIL is helping make access to
financial services in South Africa more inclusive through its strong network that provides loans to low-income
consumers. A more robust capital base positions the bank to deepen and widen its reach, and help ensure that
its lending operations are well managed and customers are serviced responsibly. We look forward to an
expanded relationship with ABIL.”

Midrand
17 December 2013

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
 

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