Absa CIB bags Africa’s best investment banking award

21Nov 2019
The Guardian
Absa CIB bags Africa’s best investment banking award

ABSA Group’s Corporate and Investment Banking (CIB) has been named the Best Investment Bank I Africa by the 12th EMEA Finance African Banking Awards for 2019.

Barclays Bank Zambia’s Managing Director, Mizinga Melu.

The South African based lender was also awarded Best Investment Bank in Botswana, South Africa, Tanzania, and Zambia as well the Best Equity House in Mozambique and the Best Loan House in South Africa.

“We are honoured to be chosen as the best investment bank in Africa in these highly respected industry awards, and it is testament to the hard work the team have put in to make our business more and more client focused while ensuring we deliver to the level expected of a leading investment bank,” said Absa CIB CEO, Charles Russon.

Russon said the bank which is transitioning to a pan African brand after Barclays Plc sold its majority state earlier this year, has seen a growing appetite by clients to invest and expand across the continent, both in the markets that Absa operates in and in non-presence countries.

“We are here to provide the solutions that help our clients realise their ambitions across this continent,” said Russon saying judges of the competition took note of such a development across the continent.

The awards recognise the achievements of retail and investment banks as well as their asset management and brokerage operations across the combined emerging Europe, Middle East and Africa (EMEA) regions, the organisers said in a statement.

“Absa owes these achievements to incredible partnerships it has built with its clients and the talented teams within the business that continually demonstrate world-class expertise and capabilities across a range of solutions and markets for clients in Africa,” David Renwick, Head of Investment Banking Division at Absa.

He added, “These included various advisory, capital raising and financing mandates, in addition being the joint-lead arranger in the first social bond ever raised by a corporate in Africa.”

The other notable achievement for the bank was its selection as joint book-runner on the Airtel Africa Plc dual IPO on the London and Nigerian Stock Exchanges, where Absa was also joint issuing house in Nigeria as well.

Barclays Tanzania Managing Director Abdi Mohamed also cherished the role that the local subsidiary has played saying, “We are honoured to be receiving this award. We thank our customers and all our stakeholders for the ongoing support. “

“As we transition our brand to Absa over the coming months we will continue to focus on innovation, service delivery, and bringing possibility to life for our customers,” he added.

These awards speak to how Absa is pushing the financial boundaries by developing new propositions that remove obstacles and reduce our client’s pain points, in addition to being a socially responsible bank in all the markets where operate.

“We are honoured to be the recipient of the 12th EMEA award. Being recognised for this prestigious award is testimony of our Corporate and Investment Banking capabilities that are anchored on supporting the growth of key sectors of our economy, building strong partnerships with our clients as well as connecting clients to larger markets through our regional and global footprint,” said Barclays Bank Zambia’s Managing Director, Mizinga Melu.

“As we embark on our journey to Absa, we will continue to provide our customers with innovative banking solutions that not only meet their needs, but help to shape the banking sector in Zambia,” Meru said.