KAMPALA - Kenyan Commercial Banks dominated the African Banker Awards in a shortlist of nominees for the 2010 edition of the Awards, announced last week.
Equity Bank Ltd, Kenya is in the bank of the year category and microfinance institution of the Year, Kenya Commercial Bank (KCB) as the innovative Bank of the year and Renaissance Capital, Kenya as nominee for Investment Bank of the Year.
In the region National Bank of Commerce Limited, Tanzania was nominated for best local bank and Uganda’s BRAC Uganda Microfinance in the microfinance institution of the year category.
The dominance of Kenyan Banks is a representative of Kenya’s strong financial and banking sector. KCB is operational in countries in the region and is cross-listed on Nairobi Stock Exchange, Dar-es-Salaam Stock Exchange, Rwanda Over the Counter Trading market and the Uganda Securities Exchange.
“We have this year a wider representation from French-speaking Africa, as well as East and North African banks, in particular from Egypt and Morocco.
Nigerian banks have had a torrid year, but we expect them to come back bigger and stronger. Most still remain strongly capitalised and it is an important market, in terms of size and scope.” the Publisher of the African Banker magazine Omar Ben Yedder commented.
The list of the best African bankers is also dominated by Kenya with Dr. James Mwangi, MD & CEO, Equity Bank Ltd, Kenya, Mr. Martin Oduor-Otieno, Group CEO, Kenya Commercial Bank and Mr. Adan Mohamed, MD for Kenya and Regional MD for East and West Africa, Barclays Bank of Kenya.
Other nominees in this category are Mr. Henri-Claude Oyima, MD, BGFIBank, Gabon and Mr. Arnold Ekpe, Group CEO, Ecobank Transnational.
“It is heartening to see that microfinance has really taken off on the continent, catering to the needs of those at the bottom of the pyramid usually neglected by traditional financial institutions,” says Anver Versi, Editor, African Banker.
“On the other end of the spectrum, private equity provides crucial lifelines to development projects that suffer from financing gaps.These institutions rightly deserve to take their place alongside the best and brightest of the traditional financing sector,” Versi adds.
Renaissance Capital, Kenya was nominated for Best Issuing House and Transcentury Ltd is in the category of Investment Fund/Private Equity Fund of the Year.