Standard Bank grants Chinese group R600m facility to roll out solar in SA
It will allow state-owned CNBM to ramp up the distribution of energy solutions in SA
19 December 2023 - 08:13
Standard Bank, Africa’s largest lender by assets, has granted Chinese state-owned building materials behemoth China National Building Materials International (CNBM) a R600m facility to allow the company to ramp up the distribution of solar and energy solutions in SA.
The “Big Blue”, as Standard Bank is called in high finance circles due to the size of its balance sheet and deal making capabilities, said the facility is made up of a R500m invoice financing facility and R100m working capital facility...
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