Firstrand Bank

The benefits of this RPA are three pronged; (i) it will provide FRB with much required capital relief and vital visibility needed to strengthen its position and market share as a provider of TF across the continent ; (ii) it will help alleviate some of the inhibitions caused to issuing banks by the difficulty in obtaining adequate credit limits to finance their TF transactions due to a dearth of risk appetite from confirming banks and (iii) ultimately the facility will to a very large extent benefit African SMEs and indigenous firms who rely heavily on local issuing banks to fulfill their TF commitments. It is worth noting that FRB operates in Africa both as an originating institution and as a confirming bank.