Development Finance Institutions triumph and dominate at the African Banker Awards 2025

Development Finance Institutions (DFIs) emerged as the big winners at Africa’s most prestigious annual banking event. Five DFI’s took home plaques at the African Banker Awards Gala Ceremony 2025 held last night at the Sofitel Hotel in Abidjan, Côte d’Ivoire on the sidelines of the African Development Bank Annual Meetings. The ceremony was attended by 500 of the continent’s leading lights in banking and finance.

The African Banker Awards 2025, now in its 19th year, celebrates the achievements of individuals and institutions that contributed significantly to the growth and development of Africa’s banking sector in the preceding year. This year’s awards ceremony, in particular, saw DFIs dominate underlining their increasing recognition, importance and impact in the African financial and banking ecosystem as they crank up the levers of development and growth.

Olayemi Cardoso from Nigeria was named Central Bank Governor of the Year. The Central Bank has had to make tough decisions but these, the organisers noted, have assuaged markets renewing investor confidence.

Morocco has been a standout performer in Africa, especially when it comes to economic diversification. Nadia Fettah Alaoui was recognised as Finance Minister of the Year for her sound macroeconomic management.

Prof. Vincent Nmehielle, Secretary General of the African Development Bank, paid tribute to IC Publications and New African magazine in particular for representing the voice of Africa internationally when back in 2007 it was the only magazine presenting an African perspective to international affairs.

Speaking at the ceremony, Omar Ben Yedder, chair of the Awards Committee identified the private sector and banks as critical to transforming the continent. “Thomas Sankara said the ones that feed you, rule you. To paraphrase him, we could easily say the ones that finance you, rule you. We need strong African-owned banks. The private sector is the key to unlocking scale, and banks are the fuel for driving Africa forward. African DFIs have won big because of the catalytic role they are playing in transforming the investment landscape as well as working more closely with the African private sector to support SMEs and other asset classes that are underfunded.”

This year’s awards had a special guest, Ivorian sprinter and silver medallist Murielle Ahouré-Demps, a multiple medal winner at world events. Presenting the African Banker of the Year award, she shared how she “learned that champions are not made on the podium. They are forged in the quiet, unseen moments in the discipline it takes when no one is watching. And as African women, we carry within us a powerful legacy: one of strength, of wisdom, and of vision. I am deeply proud of that.” The award was won by Patricia Ojangole, Managing Director of Ugandan Development Bank, the second time in three years, a woman banker from East Africa has won the coveted award.

Ecobank won this year’s AFAWA Awards, which recognise gender lens lending and banks supporting women-led businesses. Dr Beth Dunford of the African Development Bank leads on the initiative.

The Awards are supported by the African Development Bank, and a number of high-level sponsors such as the African Guarantee Fund. A cocktail reception took place before the Gala sponsored by African Trade and Investment Development Insurance (ATIDI). Afreximbank, the ECOWAS Bank for Investment and Development (EBID), Atlantic Finance Group, Nigeria’s Bank of Industry, The African Guarantee and Economic Cooperation Fund (FAGACE), 4G Capital, IFG Executive Education and African Hidden Champions were also sponsors and supporters of the Awards.

Full list of winners:

Banker of the Year: Mrs Patricia Ojangole, Managing Director at Uganda Development Bank

Bank of the Year: Trade and Development Bank Group (TDB Group)

Sustainable Bank of the Year: Nedbank

Fintech of the Year: 4G Capital

DFI of the Year: African Trade & Investment Development Insurance

SME Bank of the Year: CRDB Bank

Deal of the Year – Infrastructure: The Suez 1.1 GW Wind Power Project in Egypt – African Development Bank

Deal of the Year – Debt: The Bank of Industry €1.87bn syndicated Debt Issuance facility – Africa Finance Corporation and Afreximbank

Deal of the Year – Equity: Project Arden – Renaissance Energy $2.4bn acquisition of Shell Petroleum Development Company PwC Nigeria

Lifetime Achievement: Idrissa Nassa, Group CEO, Coris Bank

Central Bank Governor of the Year: Oluyemi Cardoso, Governor, Central Bank of Nigeria

Minister of Finance of the Year: H.E. Mrs Nadia Fettah Alaoui, Finance Minister of the Kingdom of Morocco

AFAWA Bank of the Year Award: Ecobank