The second edition of the awards ceremony comes as African Export-Import Bank (Afreximbank) (www.Afreximbank.com) is promoting stronger ties between Africa and the Diaspora, in a push for a Global Africa; ARISE Integrated Industrial Platforms (ARISE IIP), received the Pan African Business of the Year award for advancing industrialisation, export development, and economic transformation in Africa. Notably, ARISE IIP has successfully developed world-class sustainable industrial parks in Gabon, Benin, Chad, and Togo; KCB Group won the Pan- Africa financial institution of the year award. Rawbank, from the DRC, clinched the same prize, but in the category of banks with a capital base less than $500m; Elsewedy, an Egypt-based manufacturer and global exporter of electric products, won the Diaspora Business of the Year award for their impact in strengthening continental and diaspora ties.
At a Gala Dinner attended by leading dignitaries, African Export-Import Bank (Afreximbank) hosted the second edition of the Pan-African Business and Development Awards in association with the Business Council for Africa, in Nassau, The Bahamas.
The Pan-African Business and Development Awards, held on the sidelines of the Afreximbank Annual Meetings 2024, are designed to celebrate and recognise transformative businesses and financial institutions within the African continent.
This year’s edition saw Arise Integrated Industrial Platforms (ARISE IIP) win the Pan African Business of the Year award in recognition of the instrumental role it has played in advancing industrialisation, export development and economic transformation in Africa. ARISE IIP designs, finances, and operates industrial ecosystems across Africa. These ecosystems address industrial gaps in African countries, enabling sustainable local transformation of raw materials. ARISE IIP was recognised for the role it is playing in transforming African economies and reducing reliance on exportation of unprocessed raw materials.
Two financial institutions were recognised in the Pan-African Financial Institution of the Year category: KCB Group, from Kenya, which was feted for its impact in financial services, and Rawbank, an important player in the Democratic Republic of Congo, which was recognised for its pivotal role in advancing financial inclusion and economic development in the country. Since its establishment in 2002, Rawbank has become the DRC’s largest universal bank.
A new award was launched this year, Diaspora Business of the Year, recognising an African or Diasporan business that is expanding beyond its borders and strengthening economic and business ties between the continent and its Diaspora, the sixth region of the continent as defined by the African Union. Elsewedy, the Egypt based manufacturer, clinched this award.
This year also saw the awards recognising the crucial role played by Afreximbank’s staff in advancing the bank’s growth and success. Ms Oluwatoyosi Adelakin, Senior Manager Strategy and Innovation (Performance Monitoring & Reporting) emerged as the winner of the Outstanding Staff Award of the Year 2024. She has been a steady hand in ensuring that the Banks’ Balanced Scorecard Performance measurement system works as required, which has contributed greatly to the Bank’s performance and profitability since implementation in 2014.
Afreximbank’s Balanced Scorecard Performance Management System is considered a critical case of success that it was selected as a case study by Harvard Business School in 2020 which has been used by many business school students since then.
Commenting on the Awards ceremony, Prof Benedict Oramah, Afreximbank President and Chairman of Board of Directors, said: “The prestigious awards recognise outstanding partnerships that have been powerful vehicles for transmitting our development programmes to the people we collectively serve. We acknowledge the fact that the progress we continue to make, the lives we touch, and the value we bring to shareholders have only been possible due to the numerous esteemed partners who share our Pan-African aspirations. Thanks to those we celebrate today, and many others, Afreximbank has become consequential for Africans around the world, delivering trade and development interventions and actively supporting the implementation of the continental development agenda.”
Arnold Ekpe, former group CEO of Ecobank and chair of the BCA, in his remarks, highlighted the importance of supporting intiatives that contribute to Africa development, and this has become a hallmark of Afreximbank.
The Pan-African Business and Development Awards are hosted by Afreximbank in association with the BCA. The awards series was launched last year to recognise those organisations and leaders that epitomise the Pan-African spirit by leading the way in building substantive and transformative cross border businesses.
WINNERS
Pan-African Business of the Year
Winner: ARISE IIP
Pan-African Financial Institutions of the Year
Winner (institution with capital >$500m): KCB Group
Winner (institution with capital <$500m): Rawbank
Diaspora Business of the Year
Winner: Elsewedy
Outstanding Staff Award
Winner: Mrs Oluwatoyosi Adelakin
Distributed by APO Group on behalf of Afreximbank.
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About Afreximbank:
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. For 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa's trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank is setting up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2023, Afreximbank's total assets and guarantees stood at over US$37.3 billion, and its shareholder funds amounted to US$6.1 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody's (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, "the Group"). The Bank is headquartered in Cairo, Egypt.
For more information, visit: www.Afreximbank.com
About Business Council for Africa:
The Business Council for Africa is a prominent organisation dedicated to fostering economic growth, trade, and investment in Africa, with a focus on promoting business excellence and collaboration. For more information about the BCA, please visit www.BCAfrica.org
