ABIDJAN – Prof Njuguna Ndung’u has been named the African Central Bank Governor of the year. The immediate Central Bank of Kenya governor emerged tops at the ninth edition of the African Banker Awards, hosted by African Banker magazine at a gala dinner in Abidjan, Cote d’Ivoire on 27th May.
Prof Ndung’u left Central Bank of Kenya in March at the expiry of his four-year two terms. He is credited with cultivating stability in Kenya’s economy, especially on inflation, interest rates as well as increasing financial inclusion through licensing mobile money transfer services.
The award will be the icing on the cake for the professor, whom critics blamed for taking too long to intervene to save the shilling against the dollar in 2011 when it hit 106 and being lenient to greedy commercial banks.
Morocco’s Groupe Banque Populaire was named this year’s African Bank of the Year, while Ghana’s Albert Essien, Group CEO of Ecobank won African Banker of the Year. Ivorian Tidjane Thiam, the first African CEO of a FTSE100 company and Nigerian Jim Ovia, Chairman of Zenith Bank won in the African Banker Icon and Lifetime Achievement categories, respectively.
In the African Bank of the Year category, Groupe Banque Populaire beat stiff competition from four shortlisted nominees to win the coveted title. Groupe Banque Populaire is one of the most important financial services groups in Morocco. It has recently taken a major stake in West African group Banque Atlantique and helped to turn around its performance significantly.
Full list of winners
African Bank of the Year – Groupe Banque Populaire, Morocco
African Banker of the Year – Albert Essien, Group CEO Ecobank (ETI)
Lifetime Achievement Award – Jim Ovia Chairman, Zenith Bank, Nigeria
Finance Minister of the Year – Hon. Claver Gatete, Rwanda
Central Bank Governor of the Year – Prof Njuguna Ndung’u, Kenya
African Banker Icon – Tidjane Thiam, Former Finance Minister of Cote d’Ivoire and CEO of Prudential
Best Bank in North Africa – Attijariwafa Bank, Morocco
Best Bank in West Africa – Orabank
Best Bank in Central Africa – Groupe BGFI Bank, Gabon
Best Bank in East Africa – Bank of Kigali, Rwanda
Best Bank in Southern Africa – Banco de Comercio e Investimentos, Mozambique
Best Retail Bank in Africa – Standard Bank, South Africa
Investment Bank of the Year – Rand Merchant Bank, South Africa
Award for Innovation in Banking – Millennium BIM, Mozambique
Socially Responsible Bank of the Year – BMCE Bank, Morocco
Award for Financial Inclusion – Fondation Attawfik, Morocco
Deal of the Year – Equity – Seplat IPO (Standard Bank)
Deal of the Year – Debt – $850m Commercial and ECA Backed Financing Package for the Ethiopian Railways Corporation (Credit Suisse)
Trade Finance Deal of the Year – $1.3bn Petroleum Export Limited Syndicated Pre-export Facility, Commercial International Bank (CIB), Egypt
Infrastructure Deal of the Year – CENPOWER – KPONE IPP, Africa Finance Corporation, Nigeria
Best Islamic Finance Initiative – Senegal Sukuk, Citi and ICD
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