Afreximbank claims dominance in ESG Capital Markets Awards

Business a.m.

The African Export-Import Bank (Afreximbank), the shining star of Africa’s financial stage, dominated the recent Bonds, Loans and ESG Capital Markets Africa Awards 2024, clinching six accolades at the event held in South Africa.

The highly coveted awards, presented on the sidelines of the conference on March 6, recognised Afreximbank’s exceptional performance in the arenas of financing, promoting and facilitating trade, while applauding its dedication to the pursuit of sustainable economic development and prosperity across the African continent.

Afreximbank was recognised with ‘Financial Institutions Bond Deal of the Year’ for acting as joint lead manager on the debut $300 million senior Eurobond issuance by Mauritius Commercial Bank (MCB), in April 2023, marking the first Investment Grade-rated commercial bank senior bond out of Africa as well as the first international Eurobond out of Mauritius. The Bank also won the ‘Infrastructure Finance Deal of the Year’ award for its $1.76 billion loan to the Government of Tanzania, issued on 30 June 2023.

The award for the Export Credit Agency, Development Finance Institution and International Finance Institution Deal of the Year was presented to the bank for its $640-million Samurai loan issued in July 2023 while the Renewable Energy Finance Deal of the Year award went to the bank for its EUR147-million loan to the Government of Cameroon which was issued on 7 October 2023.

For the Oil and Gas Deal of the Year award, the organisers recognised Afreximbank for its $1.3-billion loan to Sonangol Finance Limited, issued in August 2023. The final award to the Bank was for being the Financial Institution Debt House of the Year.

Reacting to the awards, Chandi Mwenebungu, director and group treasurer of Afreximbank, said: “These awards represent a recognition of our Bank’s strategic work in Africa’s financial markets and present an opportunity for Afreximbank to recognize and celebrate the outstanding achievements of its clients and partners working to advance the economic development of Africa.”

Mwenebungu noted that the bank had been playing a leading debt arranging role across Africa’s main industry sectors and had been instrumental in promoting the inclusion of environmental, social, and governance (ESG) standards in financing structures, thereby furthering their application on the continent and attracting capital.

The Bonds, Loans and ESG Capital Markets Africa Conference is the only pan-African debt event bringing together local and international bonds issuers, investors and financial institutions and financial services providers from across the continent. With participation by more than 1,060 senior borrowers, issuers, regulators, bankers, investors, advisors and government officials from 383 companies and 46 countries, the conference is recognised as the number one business meetings facilitator for Africa’s capital markets and is Africa’s largest corporate and investment banking event.