Co-op Bank Celebrated as East Africa’s Regional Bank Of The Year

by Business Watch Team
Co-op Bank

The 16th edition of the African Banker Awards Gala Ceremony took place at the Kempinski Hotel, in Accra, Ghana. The event was held under the High Patronage of the African Development Bank, being part of the program of the Bank’s Annual Meetings.

Over 300 banking and financial services professionals joined the Gala Ceremony to discover the winners of the African Banker Awards 2022.

Two women won two of the most prestigious awards: the African Banker Icon and Finance Minister of the Year.

Ms. Vera Songwe, United Nations Under-Secretary-General and Executive Secretary of the Economic Commission for Africa, was awarded the African Banker Icon Award for her tireless work in providing governments with the fiscal ammunition to deal with the impact of COVID-19.

“It really was a moment to demonstrate that Africa is resilient. I came to the table with an understanding of the menu of solutions because in 2008 I was on the other side [of the table] when SDRs were handed out to European economies [to stave off a financial crisis] … What we are focusing on at the ECA is prosperity. The ingredients are there for success; there is latent innovation; what we need to do is provide the infrastructure; the soft infrastructure, the hard infrastructure, and the human capital to deliver the end game which is jobs, prosperity, and a better life for all.” Ms. Songwe said in her acceptance speech.

Angola’s Finance Minister, Hon Vera Esperança dos Santos Daves de Sousa, was recognized as the Finance Minister of the Year for her stand-out work in restoring stability and market confidence to her country.

Another notable recognition was for Michael Atingi-Ego, the Deputy Central Bank Governor, Uganda, who won Central Bank Governor of the Year. His predecessor, Emmanuel Tumusiime Mutebile, Ugandan economist and Governor of the Central Bank of Uganda, passed away, leaving a void that will not be easily filled. However, the Central Bank of Uganda one of the star performers this year has managed to stave off inflation and achieve currency stability in an extremely challenging environment.

In his speech, Omar Ben Yedder, Chair of the African Banker Awards Organising Committee and Publisher of African Banker magazine, said that it is time we focused our efforts on strengthening our domestic capabilities to finance growth. “We need strong institutions and we need to start with our commercial and development banks. If we have learned anything from the past two years, and even more so these last two months, it is that we need to achieve financial sovereignty if we are to own our growth agenda.”

Other winners include legendary Nigerian banker Atedo Peterside, founder of IBTC Bank, which he merged with Stanbic 15 years ago, who won the Lifetime Achievement Award for his contribution to banking. The success of IBTC, he said, was built on everyone buying into the mission of the bank and shared values and culture.

The Regional Bank of the Year Award for East Africa was given to the Co-Operative Bank of Kenya for overall excellence in banking in the region.

This year the Awards were sponsored by the African Guarantee Fund, Bank of Industry (Nigeria) and the Trade Development Bank as well as Access Bank. The Award Patron is the African Development Bank, whose annual meetings conclude tomorrow and which celebrates this year 50 years of the African Development Fund, which is undergoing a new replenishment round.

The Winners

Energy Deal of the Year

Temane Thermal Power Station

Absa Mozambique and International Finance Corporation

Agriculture Deal of the Year

The US $200 Million corporate facilities (the “Facility”) to BUA Industries Limited (“BIL”)

Africa Finance Corporation

Infrastructure Deal of the Year

The Luanda Bita Water Supply Project

African Trade Insurance Agency

Deal of the Year – Debt

BANK OF INDUSTRY €750 Million Debut Senior Note Participation Notes due 2027

Bank of Industry

Deal of the Year – Equity

Prosus’ c. US$15 Billion Accelerated Equity Offering in Tencent


Sustainable Bank of the Year

Trade and Development Bank

FinTech of the Year


Award for Financial Inclusion

Tugende Uganda

SME Bank of the Year


DFI of the Year

Trade and Development Bank

African Bank of the Year

The Standard Bank Group

African Banker of the Year

Benedict Oramah

Yaw Kuffour Award for Trade Finance

Coris Bank

Central Bank Governor of the Year

Michael Atingi-Ego

Deputy Central Bank Governor, Uganda

Minister of Finance of the Year

Hon. Vera Esperança dos Santos Daves de Sousa, Angola

African Banker Icon

Dr. Vera Songwe, Executive Secretary of the United Nations Economic Commission for Africa

Lifetime Achievement

Atedo Peterside CON, Founder of IBTC Bank

Best Regional Bank – North Africa

National Bank of Egypt

Best Regional Bank – Southern Africa

Mauritius Commercial Bank

Best Regional Bank – West Africa

Fidelity Bank, Ghana

Best Regional Bank – East Africa

Co-Operative Bank of Kenya

Best regional Bank – Central Africa

Raw Bank, DRC

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