Co-operative Bank of Kenya and the Safaricom’s M-Pesa-based stock trading platform Ziidi Trader have been recognised for their contribution to financial inclusion in Africa.
At the 20th edition of the African Banker Awards held last week in the Democratic Republic of Congo (DRC), Co-op Bank was named SME Bank of the Year in Africa. The awards ceremony was held on the sidelines of the African Development Bank’s (AfDB) annual general meeting.
During the same event, Ziidi Trader, the digital platform developed through a partnership between Safaricom and the Nairobi Securities Exchange, won the Fintech of the Year award.
The award recognised the platform’s role in democratising access to capital markets.
Co-op Bank’s award recognised its expertise and commitment to serving the banking needs of small and medium-sized enterprises (MSMEs).
“This recognition is a powerful validation of our unique expertise and deep-rooted commitment to serving the banking needs of MSMEs across the Eastern African region. We remain dedicated to walking alongside entrepreneurs to unlock prosperity for millions of Kenyans and our neighbours in the region,” said Gideon Muriuki, managing director of Co-op Bank.
The awards, organised by African Banker magazine, celebrate excellence, innovation, resilience and the transformative contribution of financial institutions to economic development and financial inclusion across the continent.
Continental winners
Other winners included Togo-headquartered Ecobank Group, which was named Bank of the Year for its return to growth, profitability and dividend payments.
Nigeria’s NBET Finance Company won the Deal of the Year – Debt award for its $346.7 million bond issuance, which helped address the debt crisis in the country’s power sector.
Serge Ekué, president of the West African Development Bank, was named African Banker of the Year, while André Wameso, governor of the Central Bank of the DRC, was recognised as Central Bank Governor of the Year for supporting growth in the banking sector and facilitating the country’s Eurobond issuance.
Omar Ben Yedder, chair of the awards committee, underscored the importance of financial sovereignty, saying: “Nothing significant will move on this continent without strong banks and strong financial institutions at the centre.”
