At a Gala Dinner attended by leading dignitaries, the 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 (BCA), 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 the 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 on 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. Mrs Oluwatoyosi Adelakin, Senior Manager of 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 Bank’ Balanced Scorecard Performance measurement system works as required, which has contributed greatly to the Bank’s performance and profitability since its 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 and has been used by many business school students since then.

Commenting on the Awards ceremony, Prof Benedict Oramah, Afreximbank President and Chairman of the Board of Directors, said “The prestigious awards recognise outstanding partnerships that have been powerful vehicles for transmitting our development programs 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 African 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 (an institution with capital >$500m): KCB Group, Kenya

Winner (an institution with capital <$500m): Rawbank, DRC

Diaspora Business of the Year

Winner: Elsewedy

Outstanding Staff Award

Winner: Mrs Oluwatoyosi Adelakin

Elsewhere on Ventures

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