The Standard Bank Group, parent company of Stanbic Bank Ghana has won an impressive total of 29 awards at the 16th edition of the EMEA Finance Africa Banking Awards. The remarkable triumph saw Standard Bank win prestigious accolades, including the Best Local Bank in South Africa and Best Investment Bank in several African countries such as Mozambique, South Africa, Namibia, and Nigeria. Standard Bank was also named the Most Innovative Bank and the Best Green Finance Bank.
The EMEA Finance African Banking Awards celebrate the top corporate commercial and investment banks, asset managers and brokers on the African continent.
For its exemplary work in investment banking, Standard Bank scooped 13 awards under the best investment bank category of the EMEA Finance Africa Banking Awards. The awards also reflect the extent to which Standard Bank has been successful in its Africa growth strategy.
With the largest balance sheet in Africa, complimented by experienced on-the-ground teams across 20 markets in Africa, Standard Bank has committed itself to play a leading role in accelerating Africa’s trade and investment climate, growth and economic development.
“We believe that Africa is the growth story of this century. Our commitments to making a positive sustainable difference, and maintaining people’s trust in us, remain central to how we think and behave,” Brian Marshall, Head of Investment Banking, Standard Bank CIB said.
It is estimated that $1.4-trillion capital investment is required by 2030 to support Africa’s energy transition goals, opening partnership opportunities between the private sector players and the governments.
Standard Bank is championing a just energy transition across the continent by mobilising between R250 billion and R300 billion for sustainable finance across all banking products by the end of 2026. This target includes an additional R50 billion of financing for renewable energy and underwriting of a further R15 billion of renewable energy by the end of 2024.
Notably in 2023, Standard Bank CIB successfully closed a USD 250 million sustainable term loan with the International Finance Corporation (IFC). This treasury transaction with the IFC provides financing for both green and social assets and is the first sustainable loan IFC has concluded with a commercial bank in South Africa. The success of the transaction enables Standard Bank to drive greater positive environmental and social impact in the areas of renewable energy, as well as supporting provision of financing for individuals seeking to acquire homes in the affordable housing segment.
Standard Bank CIB has also been building partnerships across the continent to facilitate trade and investment. In 2023, the bank partnered with the multinational logistics group DP World to offer trade finance solutions to companies on the continent via the DP World Trade Finance platform.
“We continue to be committed to the sustainable development of Africa and these awards are testament to our efforts to the growth of the continent. These accolades not only highlight what we have achieved in the past year but also what our confidence in the growth and development of the continent,” concluded Marshall.
