Afreximbank Honours Companies For Critical Role In Transforming  African Economies

Afreximbank Honours 4 Companies For Critical Role In Transforming  African Economies

3 weeks ago
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The African Export-Import Bank (Afreximbank) has given awards to four companies in recognition of their crucial role in transforming African economies through their industrial and business activities in the continent.

The awards were given to the companies during the second edition of the Pan-African Business and Development Awards hosted by Afreximbank in association with the Business Council for Africa (BCA), on the sidelines of the Afreximbank Annual Meetings (AGM) 2024 held in Nassau, The Bahamas.

According to the institution, the Pan-African Business and Development Awards which come in different categories are designed to celebrate and recognise transformative businesses and financial institutions within the African continent.

The companies that won this year’s awards are Arise Integrated Industrial Platforms (ARISE IIP), KCB Group, from Kenya, Rawbank from the Democratic Republic of Congo(DRC) and Elsewedy that is based in Egypt.

ARISE IIP which designs, finances, and operates industrial ecosystems across Africa, won the “Pan African Business of the Year” award in recognition of the critical role it has played in advancing industrialisation, export development and economic transformation in Africa. The ecosystems that ARISE IIP operates, address industrial gaps in African countries, enabling sustainable local transformation of raw materials. ARISE IIP was also recognised for the role it is playing in transforming African economies and reducing reliance on exportation of unprocessed raw materials.

READ ALSO: Dangote Refinery Wouldn’t Have Been Successful Without Afrexim Bank – Dangote

KCB Group and Rawbank were recognized in the in the “Pan-African Financial Institution of the Year” category. KCB Group received the award for its impact in financial services in Kenya. On its part, Rawbank, which is an important player in the Democratic Republic of Congo, 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.

Afreximbank launched a new category of award this year tagged, “Diaspora Business of the Year”, for recognising an African or Diasporan business that is expanding beyond its borders and strengthening economic and business ties between the continent and its Diaspora, which is defined as the sixth region of the continent by the African Union. Elsewedy, won this category of award. Elsewedy is an engineering infrastructure manufacturing and energy investment projects company based in Cairo, Egypt.

This year  award was also extended to Afreximbank employees, honouring the vital role played in promoting the expansion and prosperity of the bank. The Outstanding Staff Award of the Year 2024 was to Mrs. Oluwatoyosi Adelakin, Senior Manager Strategy and Innovation (Performance Monitoring & Reporting). Since its installation in 2014, the Bank’s performance and profitability have benefited immensely from her steady hand in making sure the Balanced Scorecard Performance measuring system operates as needed.

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.

Afreximbank Honours 4 Companies For Critical Role In Transforming  African Economies
Mrs Oluwatoyosi Adelakin accepting the Oustanding Staff Award from Prof Benedict Oramah, Afreximbank President and Chairman of Board of Directors

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 Chairman of the BCA, in his remarks, highlighted the importance of supporting initiatives 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.

 

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