Preference Capital Group (PrefCap), a leading innovator in SME financing, has announced a further R200m capital injection, this time from African Bank. This latest raise follows closely on the heels of a R250m investment from Stanlib Asset Management, reinforcing PrefCap’s role as a key driver of SME growth in SA.
These recent investments signal strong institutional confidence in PrefCap’s business model, credit philosophy and long-term growth trajectory — bringing total capital raised to just under R1bn in the past 12 months.
African Bank’s backing is a strong endorsement of our credit philosophy, risk discipline, and long-term vision
— Jason Sostak, Corporate Finance Executive at PrefCap
“Partnering with African Bank marks another important milestone in our journey to support SA’s SME sector at scale. Their backing is a strong endorsement of our credit philosophy, risk discipline, and long-term vision,” says Jason Sostak, Corporate Finance Executive at PrefCap.
African Bank’s involvement follows a comprehensive due diligence process and reflects their shared vision of empowering underserved yet high-potential businesses that form the backbone of SA’s economy.
This capital injection will allow PrefCap to expand its lending portfolio across industries, ensuring small and medium-sized businesses continue to access the fast, flexible funding they need to sustain operations, unlock growth and drive long-term economic impact.
About PrefCap
PrefCap is a leading financial services provider dedicated to offering innovative and flexible financing solutions. With a deep understanding of the challenges faced by SMEs, it helps owner-managed businesses access working capital, asset finance and trade finance with speed and flexibility.
About African Bank
African Bank is a Personal and Business & Commercial bank offering a range of financial products and services to both private and business customers. The bank has a countrywide branch distribution network and a full digital channel offering, as well as sales, collections, and customer service contact centres.
African Bank is a scalable, diversified, and sustainable business focused on its heritage journey of being a bank for the people, by the people, serving the people — with a clear vision and strategy, strong leadership, and an audacious drive to deliver on the promise of its founders.
This article was sponsored by PrefCap.
