FirstRand Bank has been present in India since 2008. Based in Mumbai, FirstRand India primarily focuses on Fixed Income, Currency and Commodity products, Trade Finance, as well as Debt Capital Markets and other Structured Products.
Since 1990, bilateral trade between India and Africa has flourished – particularly in the sub-Saharan African region. Countries like Nigeria, Angola, the DRC, Tanzania, Mauritius and Kenya continue to enjoy very strong export and import trade volumes with India.
In 2020, FirstRand Bank also established a new business, RMB Capital India Private Limited, to focus on the investment banking offering within India and the India-Africa corridor, with the same team that run the investment banking operations for FirstRand Bank India since its inception.
In one of the largest single investments by an Indian company in Africa, RMB acted as merchant bank, guarantee provider and FX counterparty for Cipla India's acquisition of 100% of Cipla Medpro South Africa.