By Modupe Gbadeyanka
Two essential awards were being clinched by Ecobank Nigeria Minimal at the just-concluded 2021 Banking companies and Other Monetary Institutions’ (BAFI) Awards.
At the prestigious 2021 BAFI Awards held in Lagos about the weekend, the bank emerged winner of the Current market Self esteem and Cash Composition Transaction of the 12 months for its unsecured $300 million bond, a mounted-fee 5-12 months Greenback-denominated bond released early in the 12 months.
The financial institution also went dwelling as the winner of the Female Financial Development Lender of the Year for its sustained support for feminine business owners and the improvement of price savings and financial loans solutions especially aimed at women by its Ellevate system.
These two awards, which ended up keenly contested by other really-rated economical institutions, made Ecobank the cynosure of all eyes when it was called to the podium to pick them.
“The powerful demand from customers for our bond demonstrates the worldwide hunger for the Ecobank franchise in Nigeria, its one of a kind positioning for facilitating pan-Africa trade and the appealing possibility for the several buyers in search of to back globe-class Nigerian corporates,” the Managing Director of Ecobank Nigeria, Mr Patrick Akinwuntan, commented on the awards.
He also mentioned that “with the Ellevate system, Ecobank aims to empower 40 million girls, getting a gender-centered proposition made to empower girls-owned and managed corporations in Nigeria, as nicely as in the 33 African international locations and outside of where by Ecobank has a existence.”
In accordance to the BusinessDay Investigation and Intelligence Device (BRIU), the amazing strength and depth of the ebook on the Ecobank’s $300 million bond transaction signalled good international trader self confidence in the economical institution at a time when Nigeria was racked by a ideal storm: a COVID-19 pandemic, financial economic downturn in the 4th quarter, and a year of slipping oil charges. It reiterated that more evidence of sector self-confidence and need was witnessed when the bonds have been mentioned on the London Stock Trade.
“The achievements also stamped market religion in Ecobank Nigeria’s potential customers, as it was the next important bond sale by Ecobank Nigeria in the house of two yrs the very first becoming an oversubscribed N50 billion Tier-2 issuance in December 2020,” the device stated.
On the Ecobank Ellevate proposition, BRIU stated, “Ellevate method, which is designed for companies owned by gals, managed by gals, have a significant share of feminine board users or employees and businesses production goods for gals, received special awareness of the BAFI Awards Review Panel for its comprehensiveness.
“A entirely 360º remedy, it cuts across Money Administration & Collections, Liability & Financial loans, and Guidance & Improvement. Currently being an inside-outdoors award that adheres to the charity begins at property principle, Ecobank as the winner of the Woman Economic Progression Lender of the Yr Award has demonstrated a dedication to producing a do the job surroundings that enables its female staff members to thrive to their complete potential within the financial institution.”
“Ecobank was selected centered on the diversity and scope of Ellevate which is specially designed for gals remaining a powerful SME banking proposition considering the fact that numerous women of all ages-owned and ladies-led companies slide into this category a clear, articulated vision to come to be a Lender of Option for gals by education of item growth specialists, marketers, and shopper support brokers on the requires of girls and the support to feminine customers beyond delivering loans, as suggestions and assistance are essential to business accomplishment anyplace in the earth,” it stated.
Earlier, the Publisher of BusinessDay, Mr Frank Aigbogun, explained the BAFI Awards is backed by BRIU, noting that nominations for the BAFI Awards were being the end result of a rigorous evaluate method.
He mentioned BRIU and an impartial panel of judges evaluated far more than 250 establishments and benchmarked them towards their international peers applying various indices in a extensive analysis method and nominees have been assessed for their vision, execution, and marketplace-top propositions.
He included that they also deemed variables like company values, integrity, place of work society, gender stability, and other human concerns.
The BAFI award types cut throughout banking, insurance plan, funds markets, investment decision, pension funds, trustees, registrars, stockbroking, and non-public equity.