Small and midsize enterprises (SMEs) across Africa are pushing innovation and inclusion, even as access to finance remains uneven. In South Africa, First National Bank (FNB) is emerging as a clear leader in backing these businesses, earning recognition as Africa’s top SME bank for 2026.
FNB says its dominance is built on scale and long-term commitment. The bank is the largest lender to SMEs in South Africa, serving about 1.3 million clients and holding a 34% market share in the segment.
SME financing and loan growth
Last year, FNB’s loan book stood at $6.7 billion, with roughly one-third advanced to SMEs. Growth in its commercial segment, which includes small and midsize businesses, expanded by 6% year-on-year through June 2025, showing steady demand despite economic pressure.
The bank leads in asset finance and revolving credit facilities, with market shares of 51% and 42%, respectively, according to the lender.
Patient capital and enterprise development
FNB says its approach goes beyond short-term lending. It offers grant funding for catalytic projects and patient growth capital, designed with flexible repayment terms to support sustained expansion rather than quick returns.
A major focus is inclusive finance for Black-owned SMEs, which continue to face structural barriers. Through its Vumela Enterprise Development Fund, FNB provides both equity and debt funding. The fund currently manages $38.9 million in assets.
Expansion across Africa
FNB is seeking to replicate its South African success across seven other African countries where it already operates. It is also planning expansion into new markets, including Ghana and Kenya.
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