9 July 2009 The International Finance Corporation (IFC), a member of the World Bank Group, is investing US$30-million (about R243-million) in South Africa’s Sasfin, enabling the financial services group to increase lending to small and medium enterprises (SMEs) that often struggle to obtain funds from large commercial banks. The IFC’s investment will consist of up to $10-million in equity, a loan of $10-million, and up to $10-million in trade finance guarantees. The IFC’s investment will provide Sasfin with long-term capital, which has become increasingly expensive and scarce as many institutions cut back credit lines amid the global financial crisis. Sasfin will use the funds to increase the products it offers to smaller businesses, strengthen its environmental and social lending practices, and boost foreign trade by South African companies. The IFC will also support Sasfin as it expands operations across South Africa and potentially to other parts of Sub-Saharan Africa, including Malawi, Botswana and Ghana. SAinfo reporterWould you like to use this article in your publication or on your website? See: Using SAinfo material By increasing financial services for smaller businesses, the partnership will also help create jobs and boost economic growth. Creating jobs, boosting growth “IFC is committed to working with partners such as Sasfin to create more opportunities for South African businesses.” “An inclusive financial sector is crucial for developing a vibrant private sector that promotes economic development and helps reduce poverty,” said IFC Global Financial Markets director James Scriven. “The partnership with [the] IFC will strengthen Sasfin’s capital position during these volatile economic times and help expand lending to smaller businesses, an underserved segment of South African society,” Sasfin CEO Roland Sassoon said in an IFC statement this week. “Increased financing for small and medium enterprises is crucial for the sustainable development of South Africa’s private sector.” Increased lending, African expansion
Punjab Chief Minister Amarinder Singh has sought the personal intervention of External Affairs Minister Sushma Swaraj in seeking access from the Pakistan government to enable devotees to visit the gurdwara in Kartapur on the 550th birth anniversary of Guru Nanak Dev. 550th birth anniv.In a letter to the Union Minister, the Chief Minister has urged Ms. Swaraj to take up the matter with her counterpart for having the corridor from the International Border to Kartarpur opened for the duration of the celebrations. “This will allow the faithful to pay their respects at the gurdwara in Kartarpur,” said Capt. Amarinder. He also pointed out that Kartarpur is located across the river Ravi at a distance of around 4 km from the International Border near Dera Baba Nanak in Gurdaspur district. Capt. Amarinder noted that the 550th birth anniversary of the first Guru, who breathed his last in Kartarpur, is being observed in November 2019.
Mike DiGregorio pumped 26 points on a 5-of-9 outside shooting and collected five assists and three rebounds, while JP Erram tallied a double-double with 24 markers, 18 boards, four blocks, and three assists.Allein Maliksi chipped in 11 points, eight dimes, and six boards as Blackwater improved its record to 3-5.FEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSLillard, Anthony lead Blazers over ThunderSPORTSMalditas save PH from shutout“With three more games, I think we have a good chance to make it to the playoffs. This win could motivate us more and hopefully, the good Lord will continue to bless us in the coming games,” said coach Leo Isaac.The Elite also drew huge contributions from rookie Emil Palma, who got six of his eight markers in the fourth quarter. Brace for potentially devastating typhoon approaching PH – NDRRMC Arellano ousts JRU, returns to NCAA volleyball Finals AFP official booed out of forum The Beermen dropped their second loss in three outings to slide to 6-2, and share the first place with Magnolia and Alaska.Arwind Santos led the way for San Miguel with 22 points, nine rebounds, two assists, two steals, and two blocks, while Chris Ross flirted with a triple-double with 20 markers, nine boards, and seven dimes.Four-time PBA MVP June Mar Fajardo was limited to just 12 points on a paltry 3-of-11 shooting, while also hauling down 13 rebounds as he played through an injured right elbow.The Scores:BLACKWATER 106 — DiGregorio 26, Erram 24, Maliksi 11, Sena 10, Palma 8, Jose 6, Marcelo 6, Cortez 5, Cruz 5, Pinto 5, Neypes 0, Sumang 0.ADVERTISEMENT 2 ‘newbie’ drug pushers fall in Lucena sting Slow and steady hope for near-extinct Bangladesh tortoises LATEST STORIES PBA IMAGESBlackwater caught another big fish, this time slaying defending three-time champion San Miguel, 106-96, Friday in the 2018 PBA Philippine Cup at Cuneta Astrodome.The Elite were blistering from beyond the arc and went 13-of-25 from three to snapped their four-game losing skid and grab their first victory since toppling Ginebra last January 12.ADVERTISEMENT ‘Excited’ Terrence Romeo out to cherish first PBA finals appearance PLAY LIST 01:30’Excited’ Terrence Romeo out to cherish first PBA finals appearance01:22Manila police chief: Cops tolerating illegal street vendors to get ax00:50Trending Articles01:29Police teams find crossbows, bows in HK university01:35Panelo suggests discounted SEA Games tickets for students02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City Read Next MOST READ Globe Business launches leading cloud-enabled and hardware-agnostic conferencing platform in PH Typhoon Kammuri accelerates, gains strength en route to PH Don’t miss out on the latest news and information. John Lloyd Cruz a dashing guest at Vhong Navarro’s wedding NEXT BLOCK ASIA 2.0 introduces GURUS AWARDS to recognize and reward industry influencers SAN MIGUEL 96 — Santos 22, Ross 20, Lassiter 13, Fajardo 12, Lanete 9, Ganuelas-Rosser 8, Heruela 8, Agovida 2, Semerad 2, De Ocampo 0, Mamaril 0, Pessumal 0.Quarters: 20-27, 43-45, 72-69, 106-96. View comments
Robredo: True leaders perform well despite having ‘uninspiring’ boss PLAY LIST 02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games A power forward who is taking the long route to make the men’s team proper, Hung scored just four points, had two assists and a block before fouling out after just 10 minutes and 22 seconds on the floor.And yet, just because of that little incident where he went nose-to-nose with Wright after a rough play, he got all the local media attention.FEATURED STORIESSPORTSSEA Games: Biñan football stadium stands out in preparedness, completionSPORTSPrivate companies step in to help SEA Games hostingSPORTSWin or don’t eat: the Philippines’ poverty-driven, world-beating pool stars“I was just asking him where we were going to have dinner,” Wright answered in jest when asked by Taiwanese media of the incident. “But seriously, this is basketball and things like that happen.“We’re competitors and after all is said and done, you shake the guy’s hand,” Wright went on. “There’s nothing personal about it.” MOST READ Sharapova makes first US match appearance since drug ban Don’t miss out on the latest news and information. Ethel Booba on hotel’s clarification that ‘kikiam’ is ‘chicken sausage’: ‘Kung di pa pansinin, baka isipin nila ok lang’ LATEST STORIES Trump strips away truth with hunky topless photo tweet FEU Auditorium’s 70th year celebrated with FEU Theater Guild’s ‘The Dreamweavers’ TAIPEI – Han Huang-Hung got into a skirmish with Gilas Pilipinas gunslinger Matthew Wright early in the fourth quarter of a tight victory by the Filipinos over a young Chinese Taipei B crew in the Jones Cup here on Monday afternoon.That incident alone made an instant celebrity on the 22-year-old who just got out of college early this year.ADVERTISEMENT Lacson: SEA Games fund put in foundation like ‘Napoles case’ El Nido residents told to vacate beach homes National Coffee Research Development and Extension Center brews the 2nd National Coffee Education Congress Church, environmentalists ask DENR to revoke ECC of Quezon province coal plant Hotel says PH coach apologized for ‘kikiam for breakfast’ claim Reporters here said that Hung is ready to declare for the coming pro draft here, and that, despite just having completed his college degree, is ready to make the sport a career.He’s already had his 15 minutes of fame in this game.Sports Related Videospowered by AdSparcRead Next View comments
TagsTransfersAbout the authorPaul VegasShare the loveHave your say Southend chairman Martin reveals more Larsson talks plannedby Paul Vegasa month agoSend to a friendShare the loveSouthend United chairman Ron Martin has revealed more talks are planned with Henrik Larsson over the manager’s job.Former Sweden, Barcelona, Manchester United and Hoops striker Larsson was an interested spectator as the Shrimpers picked up a 1-0 win at MK Dons on Saturday under the guidance of caretaker boss Gary Waddock.Martin admits Larsson, who scored 242 goals in 315 games for Celtic, is high on his short-list to replace Kevin Bond.He said: “Having Henrik Larsson join us on Saturday was simply part of the continuing interview process.“I have a number of people to see this week and shall also be talking further with Henrik.“This necessary due diligence to find the best option for the club is also not a negative reflection on Gary Waddock who is, in any event, well placed to influence our thinking.“The team under his guidance did excellently against MK Dons.“Whilst it is possible I am, nevertheless, doubtful a decision will be made, and implemented, by the weekend.”
TagsTransfersAbout the authorFreddie TaylorShare the loveHave your say DONE DEAL: Tottenham complete signing of Michael Vormby Freddie Taylor11 days agoSend to a friendShare the loveTottenham Hotspur have re-signed goalkeeper Michael Vorm on a free transfer.The 35-year-old left Spurs at the expiration of his contract in June.He first joined the North London outfit in 2014 and made 47 appearances in all competitions.Spurs decided to bring back Vorm following a long-term injury to captain Hugo Lloris.I’m back… #COYSpic.twitter.com/YBNzKQaGoJ— Michel Vorm (@Vorm_Official) October 14, 2019
New Delhi: Finance Minister Nirmala Sitharaman on Thursday hoped the economy would start looking up in the second half of the current financial year as consumption rises and banks increase their lending operations. Weeks after meeting public sector bankers, the finance minister met private-sector lenders and financial institutions that, according to her, categorically stated they are not facing a liquidity crisis. They also said there is enough demand for loans, she added. Also Read – India gets first tranche of Swiss account details under automatic exchange framework”On the whole, it was a very tonic-like meeting where I heard good things, positive thing,” she said, and added that “the message I got is that consumption is happening”. She indicated that economic slowdown seems to have bottomed out and the coming festive season will help the economy start looking up. The GDP growth in the first quarter of the current financial year slipped to an over six-year low of 5 per cent. The minister further said the private sector banks and financial institutions told her that the slump in commercial vehicle sales is “cyclical” and likely to pick up in the next one or two quarters.