South Africa, Sept. 18 -- IFC announced a $100 million loan to FirstRand Bank Limited (FRB) to increase access to finance to underserved micro, small and medium enterprises (MSMEs) in South Africa, targeting high-impact sectors that traditionally struggle to access funding. The loan (equivalent to 1,8 billion South African Rands) will enable FNB, a division of FRB, to help unlock crucial growth opportunities for thousands of smaller businesses in the country, supporting South Africa's economic growth and job creation efforts.Although South Africa has a well-developed financial sector, only about 5 percent of formal MSMEs have access to credit, according to the MSME Finance Gap report. Meanwhile, SMEs contribute to about 34 percent of South ...