Purros Investments (Pty) Ltd

IFC’s financing will be used to facilitate the partial localization of the shareholding of SBN Holdings Limited (“SBN”), the holding company of Standard Bank Namibia Limited (“the Bank”), in line with the Namibia Financial Sector Charter (2008). The transaction will partially finance the acquisition of 10% of SBN’s shares from the Standard Bank Group Limited (“SBG” or “the Group”) for the benefit of the Bank’s employees classified as historically disadvantaged Namibians. Purros Investments (Pty) Ltd (“Purros”) is a special purpose vehicle that has been set up to facilitate this transaction, and it will have no other economic activity other than to act as the holding company for the employee shares.