Development Finance Institutions triumph and dominate at the African Banker Awards 2025

 

Development Finance Institutions (DFIs) emerged as the big winners at Africa’s most prestigious annual banking event. Five DFIs took home plaques at the African Banker Awards Gala Ceremony 2025, held last night at the Sofitel Hotel in Abidjan, Côte d’Ivoire, on the sidelines of the African Development Bank Annual Meetings. The ceremony was attended by 500 of the continent’s leading lights in banking and finance.

 

The African Banker Awards 2025, now in its 19th year, celebrates the achievements of individuals and institutions that contributed significantly to the growth and development of Africa’s banking sector in the preceding year. This year’s awards ceremony, in particular, saw DFIs dominate, underlining their increasing recognition, importance and impact in the African financial and banking ecosystem as they crank up the levers of development and growth.

 

Olayemi Cardoso from Nigeria was named Central Bank Governor of the Year. The Central Bank has had to make tough decisions, but these, the organisers noted, have assuaged markets, renewing investor confidence.

 

Morocco has been a standout performer in Africa, especially when it comes to economic diversification. Nadia Fettah was recognised as Finance Minister of the Year for her sound macroeconomic management.

 

Prof. Vincent Nmehielle, Secretary General of the African Development Bank, paid tribute to IC Publications and New African magazine in particular for representing the voice of Africa internationally, when back in 2007 it was the only magazine presenting an African perspective on international affairs.

 

Speaking at the ceremony, Omar Ben Yedder, Chair of the Awards Committee, identified the private sector and banks as critical to transforming the continent.

 

“Thomas Sankara said the ones that feed you, rule you. To paraphrase him, we could easily say the ones that finance you, rule you. We need strong African-owned banks. The private sector is the key to unlocking scale, and banks are the fuel for driving Africa forward. African DFIs have won big because of the catalytic role they are playing in transforming the investment landscape, as well as working more closely with the African private sector to support SMEs and other asset classes that are underfunded.”

 

This year’s awards had a special guest, Ivorian sprinter and silver medallist Murielle Ahouré-Demps, a multiple medal winner at world events. Presenting the African Banker of the Year award, she shared how she “learned that champions are not made on the podium. They are forged in the quiet, unseen moments in the discipline it takes when no one is watching. And as African women, we carry within us a powerful legacy: one of strength, of wisdom, and of vision. I am deeply proud of that.” The award was won by Patricia Ojangole, Managing Director of Ugandan Development Bank – the second time in three years that a woman banker from East Africa has won the coveted award.

 

Ecobank won this year’s AFAWA Award, which recognises gender lens lending and banks supporting women-led businesses. Dr Beth Dunford of the African Development Bank leads the initiative.

 

The Awards are supported by the African Development Bank, and a number of high-level sponsors such as the African Guarantee Fund.

 

A cocktail reception took place before the Gala, sponsored by African Trade and Investment Development Insurance (ATIDI). Afreximbank, the ECOWAS Bank for Investment and Development (EBID), Atlantic Finance Group, Nigeria’s Bank of Industry, the African Guarantee and Economic Cooperation Fund (FAGACE), 4G Capital, IFG Executive Education and African Hidden Champions were also sponsors and supporters of the Awards.

 

Highlights from the Ceremony…DFIs dominate

 

The dominance of DFIs like Ugandan Development Bank, TDB, ATIDI, Afreximbank, AFC and BOI in this year’s winners’ list shows the increasingly important role these banks are playing in catalysing investments and deals on the continent.

 

Banker of the Year goes to a female CEO

 

Mrs Patricia Ojangole, MD of Uganda Development Bank, emerged the Banker of the Year in recognition of the transformative change she has brought to the bank, seen in growth in its capital base, significant reduction in its non-performing loan portfolio and enhancement of other fundamentals.

 

Reforms propel Cardoso to the top

 

Two years into his tenure, Olayemi Cardoso has emerged as Central Bank Governor of the Year in a keenly contested category.

 

He won for his comprehensive reform of Nigeria’s banking system – evident in foreign exchange management, ongoing banking recapitalisation and the entrenchment of a regime of transparency – which have had a salutary effect on macroeconomic stability and helped restore investor confidence in the country.

 

A Banking Titan receives the Lifetime Achievement Award

 

Idrissa Nassa, the Burkinabe serial entrepreneur and Group CEO of Coris Bank, received the Lifetime Achievement Award in recognition of his contribution to the African banking landscape, where the Coris Bank International (CBI) group has emerged as a continental financial powerhouse. With operations in 11 countries and control of 10% market share in the West African Economic and Monetary Union (UEMOA), Coris Bank, under Nassa’s leadership, has become a powerful African success story.

 

Banker of the Year

 

Mrs Patricia Ojangole, Managing Director at Uganda Development Bank

 

Bank of the Year

 

Trade and Development Bank Group (TDB Group)

 

Sustainable Bank of the Year

 

Nedbank

 

Fintech of the Year

 

4G Capital

 

DFI of the Year

 

African Trade & Investment Development Insurance

 

SME Bank of the Year

 

CRDB Bank

 

Deal of the Year – Infrastructure

 

The Suez 1.1 GW Wind Power Project in Egypt – African Development Bank

 

Deal of the Year – Debt

 

The Bank of Industry €1.87bn syndicated debt issuance facility – Africa Finance Corporation and Afreximbank

 

Deal of the Year – Equity

 

Project Arden – Renaissance Energy $2.4bn acquisition of Shell Petroleum

Development Company – PwC Nigeria

 

Lifetime Achievement

 

Idrissa Nassa, Group CEO, Coris Bank

 

Central Bank Governor of the Year

 

Oluyemi Cardoso, Governor, Central Bank of Nigeria

 

Minister of Finance of the Year

 

H.E. Mrs Nadia Fettah, Finance Minister of the Kingdom of Morocco

 

AFAWA Bank of the Year Award

 

Ecobank

 

About the African Banker Awards

 

The African Banker Awards – a prestigious accolade that celebrates excellence and best practices in African banking and finance – recognise the outstanding achievements of individuals and financial institutions that are transforming the continent’s financial sector and contributing to economic development and financial inclusion in Africa.

 

Organised by African Banker magazine in partnership with IC Events, the awards bring together industry leaders from across the continent to honour innovation, resilience, and the spirit of competition in African banking.

 

About African Banker

 

African Banker is a leading publication dedicated to reporting on the banking industry across the continent. With insightful coverage on finance, politics, business, technology, energy, and resources, African Banker provides in-depth analysis and commentary on the trends shaping Africa’s financial landscape.

 

As a trusted source of information, African Banker offers a unique perspective on the challenges and opportunities within Africa’s banking sector.