(MENAFN- African Press Organization)
The African Export-Import Bank (Afreximbank) ( ) walked away with two of the most prestigious prizes at the African Banker Awards 2023 held in Sharm El Sheikh, Egypt, receiving the awards for the African Bank of the Year and the DFI of the Year.
The organisers of the awards, held on the sidelines of the Annual Meetings of the African Development Bank, said that the awards to Afreximbank were in recognition of the Bank's growing leadership within Africa's financial services sector.
They said that the African Bank of The Year award was going to Afreximbank for being the bank in Africa that had demonstrated a high performance across various metrics and had“considerably changed the banking landscape by reaching out to new customers, offering new services, adopting inclusiveness by bringing the unbanked into the banking space, making use of new technologies, and helping to drive growth through a stronger financial sector”.
They added that Afreximbank was picked for the DFI of the Year award because it was the development financial institution which had demonstrated a high performance across various metrics, both qualitative and quantitative, and had supported clients and projects and delivered high impact during“these unprecedented times”. It had also considerably changed the development finance landscape by investing in impact-led projects and contributed to the sustainable economic development of the continent.
By winning the African Bank of the Year and DFI of the Year awards, Afreximbank became the sole institution to win more than one award during the ceremony. A total of 20 awards were given out at the ceremony.
The African Banker Awards is organised by African Banker magazine to celebrate the achievements of individuals and institutions that have contributed significantly to the growth and development of Africa's banking sector over the preceding.
Distributed by APO Group on behalf of Afreximbank.
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African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. For 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa's trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank is setting up a US$10 billion Adjustment Fund to support countries to effectively participate in the AfCFTA. At the end of 2022, Afreximbank's total assets and guarantees stood at over US$31 billion, and its shareholder funds amounted to US$5.2 billion. The Bank disbursed more than US$86 billion between 2016 and 2022. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody's (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure, (together,“the Group”).
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