Top Nigerian Banks Missing as African Banker Awards 2025 Finalists Are Announced

The African Banker magazine has unveiled the shortlist of nominees for the 2025 edition of the African Banker Awards, with notable Nigerian banking giants such as Access Holdings Plc, Zenith Bank Plc, and Guaranty Trust Holding Company Plc (GTCO) conspicuously absent from the list.

The winners will be announced during a gala ceremony on May 28, 2025, in Abidjan, Côte d’Ivoire, as part of the official programme of the African Development Bank (AfDB) Annual Meetings.

Now in its 18th year, the African Banker Awards, organised by African Banker magazine and IC Events, and held under the patronage of the AfDB, celebrate excellence in Africa’s financial services sector. This year’s awards are sponsored by the African Guarantee Fund (Platinum Sponsor), with ATIDI serving as the exclusive cocktail sponsor.

From over 200 entries across nine categories, banks and individuals were shortlisted for their achievements in innovation, inclusion, and transformative financial services across Africa. A key highlight this year is the nomination of two female banking executives for the Banker of the Year award, emphasizing the growing leadership role of women in African finance.

Key Nigerian Highlights:

• First Bank of Nigeria Limited is the only major Nigerian bank nominated, appearing in the prestigious Bank of the Year category.
• Bank of Industry (BoI) is shortlisted in both Development Finance Institution (DFI) of the Year and Deal of the Year – Debt categories, for its US$2.05 billion 2024 facility.
• Standard Bank, operating in Nigeria and across Africa, features prominently with nominations in multiple deal categories, including equity and infrastructure.
• Aradel Holdings’ US$2 Billion listing on NGX is shortlisted under Deal of the Year – Equity.

Selected Finalists Across Key Categories:

Bank of the Year:

• Ecobank
• First Bank of Nigeria Limited
• KCB Group, MCB Ltd., TDB Group, CIB Egypt, Coris Bank International

Banker of the Year:

• Abdulmajid Nsekela (CRDB Bank), Jeremy Awori (Ecobank), Karim Awad (EFG Holding), Mukwandi Chibesakunda (Zanaco), among others

Sustainable Bank of the Year:

• CIB Egypt, CRDB Bank, KCB Group, Nedbank, TDB Group

Fintech of the Year:

• Fourth Generation Capital, Oze, Valu – EFG Holding, ProfitShare Partners, Network International

DFI of the Year:

• Afreximbank, African Trade Insurance Agency, BoI, BOAD, EBID, Shelter Afrique, TDB Group

Deal of the Year – Debt:

• Bank of Industry (US$2.05B Facility)
• Ghana’s Eurobond Debt Restructuring (US$13B)
• Sahara Group (US$500M), ETC Group, Republic of Benin, among others

Deal of the Year – Equity:

• Aradel Holdings’ NGX Listing (US$2B)
• Nigerian Breweries Rights Issue (US$352M)
• Shell Acquisition (US$2.4B by Renaissance/PwC Nigeria)

The Awards Committee Chair, Omar Ben Yedder, noted a growing emphasis on SME financing, sustainability, and AI-driven innovation within the banking sector. He emphasized the rising profitability of SME lending and the need for larger, more resilient banks to support Africa’s economic ambitions.

The continued evolution of Africa’s financial ecosystem, and the absence of some of Nigeria’s biggest banks from this year’s shortlist, may reflect shifting trends in performance, innovation, and strategic alignment within the continent’s dynamic banking landscape.