BrandArena: Afreximbank Shines at Bonds, Loans, and ESG Capital Markets Awards 2024

Wednesday 24 April 2024

Afreximbank Shines at Bonds, Loans, and ESG Capital Markets Awards 2024

African Export-Import Bank (Afreximbank) took centre stage at the Bonds, Loans, and ESG Capital Markets Africa Awards 2024, securing an impressive six accolades at the ceremony held in South Africa.

Presented alongside the conference on March 6, the awards celebrated Afreximbank's exceptional contributions to trade financing and sustainable economic development across Africa.

Among the notable wins, Afreximbank clinched the coveted 'Financial Institutions Bond Deal of the Year' for its role as Joint Lead Manager in Mauritius Commercial Bank's (MCB) groundbreaking USD 300 million senior Eurobond issuance. This landmark transaction not only marked Africa's inaugural Investment Grade-rated commercial bank senior bond but also represented Mauritius' maiden international Eurobond venture.

Additionally, Afreximbank was honored with the 'Infrastructure Finance Deal of the Year' award for its pivotal US$1.76 billion loan to the Government of Tanzania. This landmark initiative, executed on June 30, 2023, underscores Afreximbank's commitment to advancing infrastructure development and economic growth across the continent.

The award for the Export Credit Agency, Development Finance Institution and International Finance Institution Deal of the Year was presented to the Bank for its US$640-million Samurai loan issued in July 2023 while the Renewable Energy Finance Deal of the Year award went to the Bank for its EUR147-million loan to the Government of Cameroon which was issued on 7 October 2023.

For the Oil and Gas Deal of the Year award, the organisers recognised Afreximbank for its US$1.3-billion loan to Sonangol Finance Limited, issued in August 2023. The final award to the Bank was for being the Financial Institution Debt House of the Year.

Reacting to the awards, Chandi Mwenebungu, Director and Group Treasurer of Afreximbank, said: “These awards represent a recognition of our Bank’s strategic work in Africa’s financial markets and present an opportunity for Afreximbank to recognize and celebrate the outstanding achievements of its clients and partners working to advance the economic development of Africa.”

Mr. Mwenebungu noted that the Bank had been playing a leading debt arranging role across Africa’s main industry sectors and had been instrumental in promoting the inclusion of environmental, social, and governance (ESG) standards in financing structures, thereby furthering their application on the continent and attracting capital.

The Bonds, Loans and ESG Capital Markets Africa Conference is the only pan-African debt event bringing together local and international bonds issuers, investors and financial institutions and financial services providers from across the continent. With participation by more than 1,060 senior borrowers, issuers, regulators, bankers, investors, advisors and government officials from 383 companies and 46 countries, the conference is recognised as the number one business meetings facilitator for Africa's capital markets and is Africa's largest corporate and investment banking event.

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