Alan

The African Banker Awards 2023 Gala Ceremony, the most prestigious event in the African banking calendar, took place last night at the Rixos Hotel in Sharm El Sheikh, Egypt on the sidelines of the African Development Bank Annual Meetings. The ceremony was attended by over 300 of the continent's leading bankers, regulators, and policymakers.

Now in its 17^th edition, the African Banker Awards celebrate the achievements of individuals and institutions that have contributed significantly to the growth and development of Africa's banking sector over the past year. 

Highlights from the ceremony:

Esther Kariuki becomes the second woman to win African Banker of the Year Award

Perhaps one of the most coveted prizes of the evening, the African Banker of the Year prize was awarded to Esther Kariuki, Head of Agriculture Business at the Co-op Bank of Kenya. Ms Kariuki has been a central figure in advancing agriculture as a key asset class for her institution. Not only a leader and role model, she was also responsible for considerably increasing lending to the agriculture sector and oversaw the roll-out of the platform Co-op Bank Soko, a digital marketplace that connects the agriculture value chain and ensures, among other things, that small-holder farmers receive a higher price for their produce. 

Afreximbank scores a brace at African Banker Awards 2023

The African Export-Import Bank (Afreximbank) won two prestigious awards in Sharm El Sheikh, in recognition of its growing leadership within Africa's financial services sector. The Cairo-based institution was celebrated as both African Bank of the Year and Development Financial Institution of the Year, making it the sole institution to win more than one award during this year's ceremony.

Mauritius' Harvesh Seegolam wins Central Bank Governor of the Year

The youngest ever serving governor of Mauritius Central Bank, Harvesh Kumar Seegolam, took the Central Bank Governor of the Year Award. Appointed at the onset of the COVID-19 pandemic, Governor Seegolam leveraged Mauritius Investment Corporation (MIC) to provide critical financial support to key sectors of the economy by investing in private sector operators. Its latest returns report demonstrated that the investments made through the MIC have increased in value, despite the challenging economic conditions faced.

South African banks swept many of the Deal of the Year categories. South Africa's Enoch Godongwana won the Minister of Finance of the Year Award. He was recognised for his steadfast management of the economy as finance minister as well as the work he has done to encourage investment to accelerate the energy transition.

The African continent has the highest percentage of women entrepreneurs in the world. Letshego Nigeria took the inaugural AFAWA Bank of the Year Award, a category spotlighting financial institutions empowering female entrepreneurs across the continent. The Affirmative Finance Action for Women in Africa (AFAWA) is a pan-African initiative to bridge the $42 billion financing gap facing women in Africa.

The African Banker Icon was won by veteran dealmaker Miguel Azevedo, head of investment banking for sub-saharan Africa excluding South Africa at Citi. The lifetime achievement award went to another veteran banker, Hisham Ezz Al-Arab, former Managing Director and current Non-executive Chairman of CIB Bank, Egypt's largest private sector bank.

“This year's award ceremony is a testament not only to the vibrancy and dynamism of Africa's banking industry but also its increasing diversity,” said Omar Ben Yedder, Committee Chairman and Group Publisher at IC Publications, publishers of African Banker. “The financial services industry continues to demonstrate excellence, innovation and impact in their respective markets and regions. 

FinTech, Climate Finance, Cross-Border payments are all being shaped by the leaders we are recognising today.”

The ceremony is organised by African Banker magazine with the African Development Bank as its High Patron. This year's AfDB Meetings focused on mobilising private sector finance towards green growth. The 2023 edition was sponsored by the African Guarantee Fund, the Trade and Development Bank (TDB) and Tanzania's CRDB Bank.

Full list of winners:

Banker of the Year

Ms Esther Kariuki, Co-operative Bank of Kenya

Bank of the Year

Afreximbank

African Banker Icon

Miguel Azevedo, Citi

Lifetime Achievement

Mr. Hisham Ezz Al-Arab, Commercial International Bank

Central Bank Governor of the Year

Harvesh Seegolam, Bank of Mauritius

Minister of Finance of the Year

Hon. Enoch Godongwana, South Africa

Sustainable Bank of the Year

Nedbank, South Africa

DFI of the Year

Afreximbank

Fintech of the Year

MFS Africa

SME Bank of the Year

La Caisse des Dépôts et Consignations - CDC

Deal of the Year – Debt

Harmony Gold Company syndicated multi-tranche, multi-currency, loan facility of US$400m and R4bn – Absa & Nedbank

Deal of the Year – Equity

US$298m Infinity Energy equity investment and Lekela Power acquisition – Africa Finance Corporation

Deal of the Year – Agriculture

US$78m funding facility for the Southern Oil Structured Commodity Finance Transaction – Absa

Deal of the Year – Infrastructure

US$900m debt funding facility for Scatec Solar PV plus Battery Storage Project – Standard Bank

Regional Bank of the Year – North

Bank of Africa

Regional Bank of the Year – Southern

Zambia National Commercial Bank (Zanaco)

Regional Bank of the Year – East

CRDB Bank

Regional Bank of the Year – Central

Trust Merchant Bank

Regional Bank of the Year – West

Vista Bank

AFAWA Bank of the Year Award

Letshego, Nigeria

Distributed by APO Group on behalf of African Banker.

Media Contact:
awards@icpublications.com

African Banker:
African Banker is a quarterly magazine dedicated to banking and finance in Africa. It taps into the growing demand for information about Africa's banking and financial world, a sector that is consolidating rapidly and reshaping the economy of the continent. The magazine is published by IC Publications which also publishes African Business and New African.

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As Africa celebrates Africa Day on May 25, 350Africa.org (https://www.350.Org) has unveiled the findings of research that reflects on the barriers of renewable energy and climate change policies in parts of West Africa. Among leading obstacles to the adoption of renewable energy identified in the region are lack of awareness, limited technical competence and know-how, limited investment, inadequate financial mechanisms to facilitate and promote investment in renewable energy, lack of tax incentives, lack of local manufacturing and assembly plants, insufficient policy and regulatory frameworks.

The research focused on the state of renewable energy in Benin, Togo, Ghana and Nigeria highlighting potential areas of intervention to support the adoption of renewable energy and foster a just transition to renewable energy on the continent. The report identified the need for strong and steady promotion of renewable energy in the targeted countries, by raising awareness of its benefits and opportunities, removal of financial barriers, implementation of enabling policies, encouraging innovation and research, as well as upskilling of workers.

The report was launched as Civil Society Organizations and grassroots groups under the Afrika Vuka (https://AfrikaVuka.org/) network held actions across the continent to highlight the role of renewable energy as a solution to the region's energy and climate crises. They underscored the need to address the barriers to the build out of community-centered renewable energy systems and the phasing out of fossil fuels, to avert worsening climate impacts, for a continent that already suffers disproportionately from these impacts.

Landry Ninteretse, Regional Director, 350Africa.org said,

“While our continent is sadly on the frontlines of the climate crisis that we have done little to cause, we are fortunate to have access to some of the solutions. Africa's wealth of renewable energy potential presents a great opportunity for the continent to not only address her own energy needs, but also potentially lead the global energy transition. What is required are concerted efforts by governments and other stakeholders to address the barriers to renewable energy - starting with finance and policy- by creating an enabling regulatory environment for its adoption, accelerating the shift away from polluting fossil fuels, while investing consistently in powering up community-centered renewable energy solutions that are absolutely critical to ensuring that we avert catastrophic climate impacts and secure a liveable future for us all.”

Michael Terungwa, Climate activist and Founder - Global Initiative for Food Security and Ecosystem (GIFSEP), Nigeria said,

“We need safe, reliable and sustainable energy systems to drive our economies. Continued dependence on polluting fossil fuels is not an option for us, as it has resulted in a climate crisis that is devastating communities. Just last year, Nigeria suffered flooding that led to the loss of hundreds of lives and displacement of an estimated 1.5 million others. We are counting on the political will of our new leadership to pave the way for the much needed just transition in Nigeria by being intentional in implementing relevant policies that create a conducive environment for the adoption of renewable energy. “

Portia Adu Mensah, National Coordinator - 350 Ghana Reducing Our Carbon(350GROC) said,

“Ghana needs an ambitious and concrete plan for renewable energy as we shoot for at least 30% renewable energy in the country's energy mix by the year 2030. We not only need to break free from fossil fuels, but also ensure that small-scale, off grid community friendly renewable energy is accessible to all. The involvement of communities in this is crucial, to ensure that plans factor in their views and interests as well as safeguard the well-being of the environment.”

Raïssa Oureya from the Renewable Energy Coalition said,

“The recently launched Renewable Energy Coalition (REC) of grassroots groups in Benin and Togo is geared at advocating for the adoption of renewable energy in these two countries that have great potential in renewable energy, but still rely heavily on energy imports. It's critical to maintain the push for a sustainable energy future built on renewables to enhance energy security and address the climate crisis. Beyond the launch of this research, we are holding various actions to raise awareness on the role of renewable energy in enhancing sustainable development in hopes that this will spur a much needed clean energy transition”

Ferron Pedro, South Africa Senior campaigner, 350Africa.org said,

"South Africa's energy crisis is a stark reminder of the dangers of reliance on fossil fuels. A just energy future built on socially owned renewable energy is possible and necessary to ensure access to affordable, safe energy for all while creating millions of green jobs. We call for transparency and meaningful public participation in the implementation of just energy transition programmes to ensure that the needs and interests of workers, communities and marginalized groups are placed centrally in the development of local, job-creating renewable energy industries”.

Distributed by APO Group on behalf of 350.org.

Notes to Editors:
More information about the renewable energy research is available here (https://apo-opa.info/3onGQJT)
Photos and videos from the Africa day actions will be made available here (https://apo-opa.info/3OEQ7b6)

Media contacts:
Christine Mbithi
Regional Communications Manager 
350Africa.org
christine.mbithi@350.org

Mamadou Lamine
Africa Digi/comms Specialist
350Africa.org
mamadou.thiam@350.org