Development Finance Institutions (DFIs) emerged as the predominant winners at the 2025 African Banker Awards, held recently in Abidjan on the sidelines of the African Development Bank (AfDB) Annual Meetings. This is as five DFIs secured prestigious accolades, reflecting their increasingly pivotal role in boosting investment and strengthening economic growth across the continent.

The 19th annual African Banker Awards Gala Ceremony, attended by over 500 leading figures in African banking and finance, celebrates individuals and institutions for their contributions to the sector’s development.

Olayemi Cardoso, governor of the Central Bank of Nigeria (CBN), was named Central Bank Governor of the Year. The organisers commended his administration’s tough decisions which have eased markets and supported renewed investor confidence, particularly in managing foreign exchange and ongoing banking recapitalisation efforts.

The award for Finance Minister of the Year went to Nadia Fettah, Economy and Finance Minister of the Kingdom of Morocco, in recognition of her sound macroeconomic management that has positioned Morocco as a standout performer in economic diversification.

Omar Ben Yedder, chair of the Awards Committee, spoke on the critical role of the private sector and banks in transforming Africa. “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,” he stated.

He added, “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.”

A highlight of the evening was the presentation of the African Banker of the Year award by Ivorian sprinter and silver medallist Murielle Ahouré-Demps. The coveted award was bestowed upon Patricia Ojangole, managing director of Uganda Development Bank, marking the second time in three years that a woman banker from East Africa has received this honour. Her win was attributed to the transformative changes she has implemented at Uganda Development Bank, including notable growth in its capital base, a substantial reduction in its non-performing loan portfolio, and overall enhancement of fundamental metrics.

In other key awards, Ecobank won the AFAWA Awards, which recognise gender lens lending and banks supporting women-led businesses, an initiative championed by Beth Dunford of the African Development Bank.

Idrissa Nassa, the Burkinabe serial entrepreneur and Group CEO of Coris Bank, received the Lifetime Achievement Award for his contribution to the African banking landscape. Under Mr. Nassa’s leadership, Coris Bank International (CBI) has emerged as a continental financial powerhouse, operating in 11 countries and controlling a 10 per cent market share in the West African Economic and Monetary Union (UEMOA).

In addition to the individual honours, several leading institutions and landmark transactions were recognised for their contributions to the continent’s banking and finance sector.

The Trade and Development Bank Group (TDB Group) was named Bank of the Year, while Nedbank emerged as Sustainable Bank of the Year, 4G Capital was recognised as Fintech of the Year.

Among development finance institutions, African Trade & Investment Development Insurance (ATIDI) secured the award for DFI of the Year, and CRDB Bank was celebrated as SME Bank of the Year.

The awards also recognised deals that shaped the past year. The Suez 1.1 GW Wind Power Project in Egypt, led by the African Development Bank emerged Deal of the Year – Infrastructure.

The Bank of Industry’s €1.87bn syndicated Debt Issuance facility, facilitated by Africa Finance Corporation and Afreximbank, was recognised as Deal of the Year – Debt, while the Renaissance Energy $2.4bn acquisition of Shell Petroleum Development Company (advised by PwC Nigeria), was celebrated as Deal of the Year – Equity.

The awards ceremony was supported by the African Development Bank, African Guarantee Fund, African Trade and Investment Development Insurance (ATIDI), Afreximbank, 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.