Entries for this Year’s African Banker Awards have been the Most Diverse to Date

The African Banker Awards are traditionally held during the AfDB’s annual meetings, usually in May. Both have now been pushed back to the end of August due to the Covid-19 pandemic and the award presentations will be held virtually on the 26th. The list of nominees reflects the breadth and depth of the work of financial institutions on the continent and the strength of the sector during this crisis. New categories have been added to the Awards this year to mirror the African Development Bank’s High Fives. For the Infrastructure category representing the AfDB’s ‘Integrating Africa’ goal, there was a great diversity of entries. Transport and logistics were well represented through the Nouakchott Port modernisation project. Energy has traditionally attracted a lot of interest from the banks due to the size of the financing requirements and their complexity – in fact, this time Energy Deals have been allocated their own category. One product has really come of age – green bonds feature prominently this year and are bound to become an instrument that African corporates and sovereigns will use extensively, especially with the rise of ESG-related funds.

SOURCE: AFRICAN BUSINESS MAGAZINE