News Column

Regional Bank Head Gets Continental Nod

June 2, 2014

Vivienne Yeda, the East African Development Bank (EADB) Director General, was presented with the African Banker of the Year 2014 award a fortnight ago.

Organised by the by African Banker Magazine,BusinessinAfrica Events and the African Development Bank (AfDB), the event took place recently in Kigali, Rwanda.

This was also the same week of the AfDB Annual Meetings. Linah Mohohlo from Botswana was named Central Bank Governor of the Year while Armando Manuel from Angola was named Finance Minister of the Year.

Bank of Kigali won best bank in East Africa while Banque Islamique de Mauritanie was chosen for being the Best Islamic Finance Initiative. The Nigerian Mortgage Refinance Company was named Mortgage Bank of the Year.

Elizabeth Mary Okello, chairperson of the Kenya Women Finance Trust received the Lifetime Achievement Award.

President Paul Kagame of Rwanda received a Special Recognition Award. At the colourful event were ministers of finance and bank CEOs from various African countries.

The judges of the awards recognised the smaller financial institutions and those, which have operated in challenging environments said a statement from the organisers.

Trust Merchant Bank, an independent commercial bank operating in DR Congo - where financial services was disrupted by years of conflict that ended in 2003 - won Best Bank in Central Africa.

Mali, whose government successfully transitioned to a democratically elected president after a 2012 coup that crippled the economy, was celebrated by Ecobank Mali who won Best Bank in West Africa.

Stanbic Zimbabwe beat tough competition from bigger banks to become Best Bank in Southern Africa operating under more challenging economic conditions.

Two landmark deals were rewarded. Bob Diamond, who previously worked for Barclays Bank, saw the $325 million IPO of is new investment vehicle, Atlas Mara Co-Nvest, win Deal of the Year, which was overseen by Citi.

And the $3.3 billion finance facility for Dangote Industries to build the continent's largest refinery, petrochemical and fertiliser plant was also rewarded, with Standard Chartered who was the lead financier on the transaction receiving the award.

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Source: AllAfrica

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