African Banker magazine, on Wednesday, named South Africa’s Standard Bank Group African Bank of the Year 2021 in recognition of its achievements in fighting the Covid-19 pandemic and empowering women.
Other winners of its 2021 awards announced at a virtual ceremony held on the sidelines of the African Development Bank’s 2021 Annual Meetings, included African Banker of the Year, clinched for the second straight year by Hebert Wigwe, Managing Director and chief executive of Access Bank Group.
A statement by the award organisers, noted Access Bank’s rapid growth, which has made it one of the largest retail banks on the continent over the last decade, with more than 40m customers, making it one of the largest retail banks on the continent.
Morocco’s Minister of Economy and Finance, Mohammed Benchaâboun, was named Finance Minister of the Year in recognition of his ministry’s exemplary response to the economic crisis brought on by the Covid-19 pandemic.
Commenting on the awards ceremony, the statement quoted Omar Ben Yedder, Group Publisher of African Banker, as commending the continent’s banking sector for its responsiveness to clients’ needs, and setting up gender programmes, supporting women-led businesses and promoting women within their organizations.
“Fintechs are really the flavour of the year and we’ve seen plenty of money from venture capital, from private equity wealth, going into the fintech space in Egypt, Kenya and in Nigeria, and to some extent crypto and blockchain, although those are at very early stages,” Ben Yedder said.
The continued strength and resilience of the banking sector, he believes, would be critical to supporting economic recovery from the pandemic across Africa.
Other winners in the 2021 African Banker Award included the Commercial International Bank (CIB) of Egypt, which emerged sustainable bank of the year; while the infrastructure deal of the year went to the trio of Nedbank, Standard Chartered and TDB, in recognition of syndicating a $1.46bn loan facility for the Tanzania Standard Gauge Railway.
Deal of the year, Equity, went to Nigeria’s FBNQuest for its role in the privatization of Afam Power Plc and Afam Three Fast Power Ltd; just as Deal of the year, Debt, was clinched by the African Export-Import Bank’s COVID-19 Support Facility by MUFG Bank, Mitsubishi UFJ Financial Group.
The award for financial inclusion went to Trust Merchant Bank, DRC; Charlie Robertson, Chief Economist of Renaissance Capital was named African Banker Icon; the award for Innovation for Financial Services went to Nigeria’s Bank of Industry for its Government Enterprise Empowerment Programme.
Energy deal of the year was jointly won by Nkhotakota Solar Power Plant in Malawi and the 7.5 megawatts Solar PV Power Plant in Burundi by the African Trade Insurance Agency (ATI).
The $400m Revolving Trade Finance Facility in favour of ETC Group was named agriculture deal of the year, financed by the African Export-Import Bank (Afreximbank); just as Ecobank clinched the African SME Bank of the Year award.
Best Regional Bank in Africa (North) went to Attijariwafa Bank of Morocco; Banque de Développement du Mali was rated best in West Africa; while Equity Bank, Kenya, BGFI, Gabon; and Mozabanco, Mozambique, emerged best in East, Central and Southern Africa respectively
Central Bank Governor of the Year was received by Lesetja Kganyago, Governor Reserve Bank of South Africa; Investment Bank of the Year award by ABSA; while Standard Bank Group emerged African Bank of the Year; followed by the Lifetime Achievement Award to Felix Bikpo.
