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    Home»Business Matters»Ecobank wins huge at Nigeria’s BAFI Awards

    Ecobank wins huge at Nigeria’s BAFI Awards

    Business Matters By Temitope N.Nov 16, 2021No Comments2 Mins Read
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    Ecobank Nigeria caught the spotlight at the prestigious Banks and Other Financial Institutions’ (BAFI) Awards 2021 held in Lagos weekend.

    Ecobank Logo
    Ecobank Logo

    At the keenly contested awards, Ecobank Nigeria emerged winner of the ‘Market Confidence and Capital Structure Transaction of the Year’ via its unsecured $300 million bonds, a fixed-rate five-year US dollar-denominated bond launched early in the year and ‘Female Economic Advancement Bank of the Year’ for its sustained support for female entrepreneurs and the development of savings and loans products specifically aimed at women through its Ellevate programme.

    The BAFI Awards, backed by the BusinessDay Research and Intelligence Unit (BRIU), noted that the impressive strength and depth of the book on the Ecobank’s $300 million bond transaction signalled solid global investor confidence in the financial institution at a time when Nigeria was racked by a perfect storm: a COVID-19 pandemic, economic recession in the fourth quarter, and a year of falling oil prices.

    “The success also stamped market faith in Ecobank Nigeria’s prospects, as it was the second major bond sale by Ecobank Nigeria in the space of two years; the first being an oversubscribed N50 billion Tier-2 issuance in December 2020,” it stated.

    See also  Kogi governor inaugurates economic advisory council.

    On the Ecobank Ellevate proposition, BRIU said: “Ellevateprogramme, which is designed for businesses owned by women, managed by women, have a high percentage of female board members or employees and companies manufacturing products for women, received special attention of the BAFI Awards Review Panel for its comprehensiveness. A fully 360º solution, it cuts across Cash Management & Collections, Liability & Loans, and Support & Development.

    “Being an ‘inside-outside award that adheres to the ‘charity begins at home principle’, Ecobank as the winner of the Female Economic Advancement Bank of the Year Award has demonstrated a commitment to creating a work environment that allows its female employees to thrive to their full potential within the bank.

    See also  NaviSite wins DCS Award for Datacentre Hosting/co-location Supplier of the Year

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    BAFI Ecobank
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