Banking
GTBank, Ecobank Lead African Banker Awards 2018 Nominations
By Dipo Olowookere
Organisers of the African Banker Awards have announced nominees of the 2018 edition of the coveted and glamorous event in the banking sector.
Business Post gathered that this year’s shortlist sees another strong year for banks from Morocco, Nigeria and Kenya with Guaranty Trust Bank, Ecobank, Standard Bank and Standard Chartered having a large footprint across the continent also featuring across several categories.
The awards ceremony, held under the high patronage of the African Development Bank (AfDB), is sponsored by The African Guarantee Fund, Banco Nacional de Investimento (BNI), Groupe Crédit Agricole du Maroc and the Bank of Industry.
It was revealed that Ecobank will be the hosts of the African Banker Awards cocktail reception prior the awards with the Gala Dinner and Awards presentation taking place at the Paradise Hotel, Busan.
According to a statement issued by the organisers, the awards, hosted by African Banker magazine, would be held during the Annual Meetings of AfDB at the end of May in Busan, South Korea.
The finalists, selected by an expert judging panel of bankers and business leaders, will be announced at the African Banker Awards ceremony scheduled for Wednesday, May 22, 2018.
In addition, individual recognition will also be given in the categories for the Regional Bank winners, Central Bank Governor of the Year, Finance Minister of the Year and Lifetime Achievement.
Chair of the Awards Committee, Omar Ben Yedder, the Group Publisher and Managing Director of IC Publications Group, which publishes African Banker, said that he was once again impressed by the quality and breadth of entries this year.
“We saw McKinsey earlier in the year releasing a very positive report analysing the banking landscape in Africa.
“The entries reaffirm their findings when they say Africa’s banking market are amongst the most exciting in the world.
“The categories that caught my eye were innovation in banking – and this year’s entries reflect the transformative role of fintech and also blockchain technology – as well as deal of the year, which is every year a very competitive category.
“Equity markets were a little slower in 2017, but we saw some interesting deals on the debt side and also transformative infrastructure financing structures. The quality of the entries, and sophistication of the solutions being presented, reflect a buoyant sector in continuous evolution.”
The shortlisted entries are:
African Banker of the Year
Mohamed El Kettani – Attijariwafa Bank, Morocco
James Mwangi – Equity Group Holdings Plc, Kenya
Joshua Oigara – KCB, Kenya
Segun Agbaje – Guaranty Trust Bank, Nigeria
African Bank of the Year
Attijariwafa Bank, Morocco
Equity Group Holdings, Kenya
Guaranty Trust Bank, Nigeria
The Mauritius Commercial Bank, Mauritius
Standard Chartered
Best Retail Bank in Africa
Barclays, Zambia
Ecobank
KCB, Kenya
Millennium BIM, Mozambique
SBM Holdings, Mauritius
Investment Bank of the Year
Barclays Africa Group
Exotix
FNBQuest Merchant Bank, Nigeria
Standard Bank
Standard Chartered
Award for Financial Inclusion
Fourth Generation Capital Limited, Kenya
Groupe Crédit Agricole du Maroc, Morocco
Baobab Group, France
Equity Group, Kenya
JUMO World, South Africa
Award for Innovation in Banking
Agricultural Finance Corporation, Kenya
Ubuntu Coin
Banque Nationale pour le Développement Economique, Senegal
Ecobank
SBM Holdings, Mauritius
Socially Responsible Bank of the Year
Barclays Bank, Zambia
BMCE Bank of Africa, Morocco
Equity Group, Kenya
First Bank of Nigeria, Nigeria
KCB Group, Kenya
Standard Chartered Bank Kenya, Kenya
Deal of the Year – Equity
ADES IPO – EFG Hermes, Egypt
First Rand Acquisition of Aldermore PLC – Rand Merchant Bank, South Africa
GAPCO sale to Total – Standard Chartered, South Africa
Long4Life IPO – Standard Bank, South Africa
Steinhoff Africa Retail Listing – Rand Merchant Bank, South Africa
Vodacom Tanzania IPO – National Bank of Commerce and Absa CIB, Tanzania
Deal of the Year – Debt
$300m Diaspora Bond – Standard Bank/FBNQuest Merchant Bank, Nigeria
$540 First Rand Asia Focused syndication – Standard Chartered, UK
Cape Town Green Bond – RMB, South Africa
Dufil Prima Foods – Standard Bank, South Africa
Nokeng Fluorspar – Fieldstone, South Africa
Viathan – Renaissance Capital, Nigeria
Infrastructure Deal of the Year
Nigeria Infrastructure Debt Fund – Chapel Hill Denham, Nigeria
Nacala Railway and Port Corridor – Standard Bank SA / RMB, South Africa
FIRST – Rand Merchant Bank, South Africa
AEE Power Project – RMB, Namibia
By Aduragbemi Omiyale
A collaboration to enable fast money transfers into Nigeria has been entered into between Flutterwave and Xoom, PayPal’s international digital money transfer service.
The partnership allows Xoom transfers to be converted by Flutterwave and settled locally in Naira, enabling quick transfers directly into recipients’ bank accounts at Access Bank, UBA, Zenith Bank, First Bank, GTBank, and additional participating banks across Nigeria.
The deal also enables Xoom’s global network with Flutterwave’s local payout infrastructure, allowing users globally to send funds directly into Nigerian bank accounts with improved speed and efficiency.
Nigeria is the leading remittance recipient in Sub-Saharan Africa, receiving over $20 billion in personal remittances in 2024. Despite this volume, receiving international payments has historically remained complex due to FX constraints and settlement delays. This collaboration helps address those challenges in a market of more than 232 million people, where the ICT sector is projected to contribute 21 per cent of GDP by 2027.
By combining Xoom’s expansive reach with Flutterwave’s local compliance and banking partnerships, the two companies are providing a more accessible financial corridor for the continent.
Xoom, a PayPal service, is a fast and secure international digital money transfer service that enables consumers to send money, pay bills, and reload phones for friends and family in approximately 160 markets globally.
As part of PayPal’s global payments ecosystem, Xoom leverages advanced fraud protection, compliance capabilities, and a trusted global network to help millions of customers move money quickly and securely across borders.
“We’re excited to have been chosen by Xoom for their Nigeria expansion. Millions of Nigerians rely on money from abroad to support everyday needs, whether it’s families receiving help from loved ones, freelancers getting paid for their work, or individuals earning income from the global economy. This helps make it easy and more reliable for people in Nigeria to receive funds and stay connected to opportunities beyond borders,” the chief executive of Flutterwave, Mr Olugbenga GB Agboola, stated.
By Aduragbemi Omiyale
An initiative known as Nigeria Lightning Rounds, designed to expand funding opportunities for Nigerian startups and small businesses by connecting founders with local and international investors, has been launched by ProvidusUnity Bank, in partnership with US-based global venture firm and accelerator, gener8tor.
Scheduled to be held on July 15, 2026, Nigeria Lightning Rounds will feature carefully selected startups engaging with targeted investors who have expressed interest in supporting Nigerian innovation.
Participating founders will have the opportunity to pitch their businesses through focused 15-minute virtual sessions facilitated by gener8tor and ProvidusUnity Bank’s networks.
The program will focus on high-growth sectors including fintech, healthtech, manufacturing, sustainability, and AI, but welcomes SMEs from all industries, with intending participants urged to apply via https://www.gener8tor.com/lightning-rounds/nigeria.
“We recognise that access to capital remains one of the biggest challenges facing entrepreneurs in Nigeria. Through our partnership with gener8tor, we are creating a platform that connects promising Nigerian founders with investors who can provide the support required to scale their businesses,” the Head of Business Development at ProvidusUnity Bank, Mr Ernest Elue, stated.
“The partnership reinforces ProvidusUnity Bank’s commitment to strengthening Nigeria’s entrepreneurial ecosystem by supporting innovation, enabling access to opportunities, and creating pathways for businesses with high-growth potential,” he added.
Also commenting, the Director of Lightning Rounds at gener8tor, Ms Elizabeth Larios, said, “gener8tor is thrilled to partner with ProvidusUnity Bank to extend the Lightning Rounds model into Nigeria.
“This collaboration reflects our commitment to building equitable ecosystems and driving capital to the most promising and underrepresented entrepreneurs.”
Lightning Rounds are a signature initiative of gener8tor’s investment platform, which has facilitated thousands of investor-startup meetings globally. The format is optimised to eliminate friction, reduce bias in early-stage fundraising, and help founders secure capital from investors aligned with their mission and stage. gener8tor’s previous Lightning Rounds for Nigerian Founders in 2025 featured 18 participating Investors and led to 50 investment meetings facilitated.
By Modupe Gbadeyanka
The verification of the depositors of the 46 microfinance banks, whose operating licenses were revoked by the Central Bank of Nigeria (CBN) over a week ago, has commenced.
The exercise, aimed at refunding those whose funds were trapped in the small lenders, is being conducted by the Nigeria Deposit Insurance Corporation (NDIC).
In a statement on Thursday, the agency said its staff members have been positioned at the offices of the affected banks across the country to attend to depositors.
It was disclosed that depositors of the defunct banks, who had their Bank Verification Numbers (BVNs) linked to their accounts in the failed banks, will be paid through their alternative accounts in existing banks.
However, depositors whose BVNs were not linked to their accounts in the failed banks have been encouraged to visit the affected banks’ offices with proof of account ownership, a passport photograph, verifiable means of identification (Driver’s Licence, Permanent Voter’s Card, International Passport or National ID Card) and BVN.
NDIC also stated that depositors can alternatively file their claims online through its website: www.ndic.gov.ng, to complete the Pre-Verification Claims Form by clicking on the Search Bar, and typing Pre-Verification Claims Form; opening the Form and filling in their details. They can also do so by clicking the link: https://ndic.gov.ng/ndic-pre-verification-claims-form/ or by visiting any of the NDIC offices closest to them to file their claims.
For further enquiries, the corporation can be reached on any of the following lines: 09037273810, 09038197064, 08104220807, 09064657140.
