Equity bank’s CEO James Mwangi has been named the banker of the year at the recently concluded African Banker Awards South Korea.
This is the fourth time he has been named the banker of the year by the African Banker Awards since he founded Equity Bank back in 2014.
James Mwangi won the banker of the year award from the African Banker awards in the year 2010, reach out to the unbanked, and for championing the empowerment of ordinary people through inclusive finance. He was also named the Banker of the year in 2011 for inclusivity for the unbanked masses and another in 2017.
“His bank has seen impressive growth through a series of innovations and diversified investment channels away from consumer loans. Kenya’s Equity Group also beat off strong competition from four other shortlisted nominees to win the coveted ‘African Bank of the Year Award’. “ the statement reads in part.
During the gala awards night, several other banks from the East African region also scooped the lion’s share of awards.
This is the first time the African Banker Awards take place in South Korea, more precisely in the port city of Busan.
Tanzania’s Dr Benno Ndulu, former central bank governor who finished his second term last year won Central Bank Governor of the year for his work in pushing for financial inclusion as well as for sound macroeconomic management. CRDB, also from Tanzania was named the ‘Best Regional Bank in East Africa’.
South African banks also dominated the investment banking and deals of the year categories. Standard Bank Group swooped three awards, including the one for ‘Investment Bank of the Year’. Standard Bank and Rand Merchant Bank in South Africa took the ‘Infrastructure Deal of the Year’ for the $5bn Nacala corridor rail and port project in Mozambique and Malawi, one of Africa’s largest private sector funded infrastructure projects. The project covers 912km of railway running from the Tete province in western Mozambique to Nacala port on the east coast through a section of Malawi. A deep sea port at Nacala also features in the project. Rand Merchant Bank in South Africa was also recognized for the listing of Steinhoff Africa Retail that took place last year. Veteran South African banker, Stephen Koseff, won the Lifetime Achievement Award. As the co-founder of Investec he has built a global leader in banking and asset management.
The ‘Socially Responsible Bank of the Year’ title went to BMCE Bank of Africa Group in Morocco. The bank is widely regarded as a leader in sustainable finance and le Credit Agricole du Maroc won the award for financial inclusion. Ecobank won the award for innovation and also for Retail Bank of the year largely for the way it has integrated technology to considerably widen its products and reach.
According to Omar Ben Yedder, Publisher of African Banker, the winners of the African Banker Awards reflect the innovation and energy within Africa’s banking market.
“The categories that most catch my eye are the Deals of the year and the ones on innovation. They reflect the true energy and vigour of the banking sector. I cannot stress enough though the important role financial services have to play to drive the development of the continent.” Said Yedder.
Here is a list of 2018 African Banker Award Winners
African Banker of the Year
James Mwangi, Equity Group Holdings Plc, Kenya
Lifetime Achievement Award
Stephen Koseff, co-founder Investec
African Bank of the Year
Equity Group Holdings Plc, Kenya
Best Retail Bank in Africa
Investment Bank of the Year
Award for Financial Inclusion
Groupe Crédit Agricole (Morocco)
Socially Responsible Bank of the Year
BMCE Bank of Africa Group (Morocco)
Innovation in Banking
Deal of the Year – Equity
Steinhof Africa Retail Listing – Rand Merchant Bank (South Africa)
Deal of the Year – Debt
$300m Diaspora Bond, Nigeria
Standard Bank / FBNQuest Merchant Bank (Nigeria)
Infrastructure Deal of the Year
Nacala Railway and Port Corridor
Standard Bank / Rand Merchant Bank (South Africa)
Best Regional Bank
East Africa – CRDB (Tanzania)
West Africa – BDM (Mali)
North Africa – CIB, Egypt
Southern Africa – State Bank Mauritius (SBM)
Central Africa – BGFI, Gabon