Standard Bank was recognised not only for its deep sector expertise, renowned skill and long-held relationships across the continent, but for the innovative and customised manner in which the bank assists its clients, in an often challenging and complex financial and regulatory cross-border environment in Africa, and beyond.
Standard Bank’s Investment Banking franchise played a pivotal role in a series of landmark deals across the African continent, from a variety of key sectors, such as Mining & Metals, Oil & Gas, and Power & Infrastructure. Each deal stands out as an example of innovation, benefiting both clients and investors.
At a time when multi-national corporates are rapidly increasing investment in Africa, and revising their business strategies on the continent to benefit from increasing growth and rising consumer spending power, Standard Bank has differentiated itself from other African investment banks, due to the breadth and nature of the transformative transactions the bank has been involved in, including:
- Largest debut bond in sub-Saharan Africa to date – The Republic of Kenya’s USD2 billion debut sovereign bond
- Seplat Petroleum Development Company Plc – First Nigerian company to have its ordinary shares dual listed on both the LSE and the NSE; largest ever IPO in Nigeria; largest IPO in sub-Sahara Africa (ex SA) since 2008, largest African Oil & Gas IPO since 2011
- Co-arranger on the City of Johannesburg’s ZAR 1.46bn green bond, the first listed green bond in the South African Debt Capital Markets and it will be used for environmental and social sustainability projects
- Providing various facilities that allowed Copperbelt Energy Corporation Plc (Zambia) to achieve their strategy to become an integrated power player in the rest of Africa
- A landmark financing for the Nigerian power sector, which formed part of the privatization of the distribution sector – Kann Utility Company Limited
- First Sukuk to be issued in West Africa and Nigeria – Osun Sukuk Company Plc
- A transaction that provided a turning point for the Aspen Group (South Africa) in terms of the quantum and scale of the group’s acquisitions – USD 2.7bn debt arranged and underwritten for the group
- Acting as Investment Bank, Structuring Advisor and Transaction Sponsor to AECI Limited in its disposal of 1 600ha of surplus property assets at Modderfontein; a complex cross border transaction executed with Hong Kong listed Shanghai Zendai
The awards were presided over by a leading panel of experts, encompassing senior editorial staff from The Banker magazine, including Paul Wallace, Africa Editor, as well as a series senior executives from a range of Africa-focused advisory firms and investment companies, such as Jerome Booth, former head of research at Ashmore Group and Belia Fofana, founder and chief executive of Miktay Capital, an advisory firm for infrastructure projects. The group of judges were particularly impressed with Standard Bank’s role in Seplat IPO, Osun State’s sukuk in Nigeria, Aspen Pharmacare’s $2.7bn-worth of loans and Johannesburg’s R1.46bn green bond.
David Munro, Chief Executive, Corporate & Investment Banking (CIB), Standard Bank, said: “We truly appreciate receiving this prestigious award. It is an external, objective assessment of what we are trying to achieve at CIB – ensuring that large global multi-national corporations, and South African companies, are able to do business in Africa; and providing access for African companies to the international capital markets.”
Mr Munro said that there was fierce competition among financial institutions across Africa. “Competition is alive and well across Africa and the winners will be those who build long-term, sustainable businesses and find a way to leverage that to the benefit of their clients. CIB’s key differentiator is that we have teams on-the-ground in key Africa markets as well as the necessary skills, expertise and corporate presence in the world’s capital markets to assist our clients wanting to do business in Africa.”
CIB’s top six markets are South Africa, Nigeria, Kenya, Angola, Mozambique and Ghana.
These are the ones that are attracting global pools of capital and which are going to produce definite investment banking transactions. “We still see South Africa as our most critical market with the biggest opportunities,” said Mr Munro.