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Banks nominated for top African accolades

06 May 2015, 20:01

Lagos - Two Nigerian banks and a deal South African bank financed locally have been nominated for the Nominees for the 2015 African Banker Awards.

Fidelity Bank has been nominated for the Award for Financial Inclusion alongside banks from Democratic Republic of Congo, Morocco and Senegal.

The more prestigious African Bank of the Year sees local bank Guaranty Trust Bank vying for the honor with financial houses from South Africa and Morocco.

The US$900 million 459 MW Azura Edo IPP gas-fired open cycle power plant in Nigeria, financed by Rand Merchant Bank, a division of FirstRand Bank Limited, is in line to win the Infrastructure Deal of the Year.

The Awards will be held during the Annual Meetings of the African Development Bank (AfDB) at the end of May in Abidjan, Ivory Coast.

Also read: Microfinance banks operators congratulate Ambode

 The finalists, selected by an expert judging panel of bankers and business leaders will, be announced at the African Banker Awards ceremony which will take place on May 27.

Chair of the Awards Committee, Omar Ben Yedde, said Africa's banking sector continued to expand and the encouraging point was there is plenty of scope for growth.

“What was particularly interesting this year was the number of entries we received in three particular categories. These were innovation in banking, the category for financial inclusion and the deal of the year award. I am not sure whether this was coincidental or whether we are seeing a shift in what banks and financial institutions are putting an increasing emphasis on.”

He added that innovation financial inclusion and deals were key to the continent's transformation.

“And banks seem fully engaged in all three. The quality of the entries showed the amazing work which is going on, North, West, East, South, everywhere throughout the industry. In many ways, I feel sorry for the judges who will have to make these difficult selections,” said Yedde.



- CAJ News


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