Bank of the Year Awards 2025 – Africa

Select the country award in the table of contents.

Algeria

Société Générale Algérie

For the third consecutive year, Société Générale is the country’s Bank of the Year for Algeria, in recognition of improved costs and asset quality control in 2024, together with the launch of the bank’s new business serving corporate and investment banking clients. The award celebrates Société Générale Algérie’s stable financial position despite challenging circumstances, with the banks in Algeria facing strains amid large fiscal deficits and crowded out private sector credit. 

Launched in March 2025, the new Corporate and Investment Banking & Market franchise combines the bank’s Dealing Room and Corporate and Investment Banking divisions, offering a wide range of services and solutions to both retail and corporate clients. This followed the official launch of the bank’s investment bank activity in 2024, centring on mergers and acquisitions and debt capital markets. The review period saw SocGen sign several mandates and one independent valuation, while offering advisory support for obtaining approval for a bond issuance operation for a client issuer. 

Another of SocGen’s highlights last year was its adoption of the ISO 20022 payment standard. The migration, completed in May 2025, was completed without interruption and saw co-ordination between IT, payments, compliance, risk management, project management and client services teams.

On the sustainability front, SocGen in May launched its internal Ecoprint CSR Challenge, aimed at significantly reducing paper consumption within the bank. The two-month initiative is part of a broader strategy to decrease its ecological footprint and promote sustainable practices. At the end of 2024, for example, the bank’s Sidi Yahia branch was equipped with a photovoltaic system for solar energy production, the fifth such branch upgrade.  

“This recognition reflects the commitment, cohesion and dedication of all our teams, as well as the strength of our growth and digital transformation journey,” says Julien Sterenzy, board chair of Société Générale Algérie.

Angola

Standard Bank Angola

After being usurped in 2024, Standard Bank regains its Bank of the Year title for Angola, in recognition of its strong service offering and a series of significant internal upgrades. 

Among the bank’s highlights for the review period was the launch of buy-now-pay-later services, enabling pre-approved customers to pay for purchases in partner stores over two to four months. Launched in October 2024, the bank’s digital BNPL platform facilitated more than 2,700 contracts by end-June, disbursing more than Kz1bn ($1.1mn) in short-term credit, with a non-performing loan rate of just 3.8 per cent. The platform has been especially popular at MDC Africa, Hiper Electro and Grupo Kero stores.

Standard Bank launched its new Credit Decision Engine in March 2025, shortening a loan approval position that would take up to three days into one that can be completed in seconds. Customers who meet the criteria are now automatically pre-approved, dramatically reducing turnaround times and enhancing customer experience.

May 2025 saw Standard Bank carry out the country’s first ever foreign exchange swap transaction in partnership with Banco Sol, with a view to conducting similar transactions as the country’s monetary landscape develops. 

The review period also saw the bank upgrade its core banking system from Temenos R19 on the TAFC runtime to R23 on the TAFJ runtime, enabling the bank to adopt multi-application architecture, allowing the system to operate seamlessly across multiple servers. The upgrade has resulted in faster transaction processing, higher system availability, greater operational agility and accelerated time to market for new products. June 2025 saw the completion of a major upgrade of the lender’s digital banking platform, adopting Backbase’s Journey Architecture, a microservices-based framework that empowers us to deliver digital experiences with unprecedented agility.

Benin

UBA Benin

In the midst of strong competition from some big names, UBA has once again been crowned as Bank of the Year for Benin, in recognition of its strong customer service performance. 

UBA Benin ranked first in a KPMG survey of the bank’s 20 subsidiaries, which assessed performance on metrics such as credit policy access and conditions, digitalisations and processing time for cash transactions. Beyond the survey, UBA Benin has run online satisfaction surveys, customer forums, and customer appreciation days for business clients. 

The bank has also upgraded its Bestcash Money (B-Mo) mobile money solution with the addition of several new value-added services, including easier links between bank accounts and mobile money wallets, and options for cable subscription, water and energy bill payments. 

UBA also created a point-of-sale banking platform based on B-Mo to offer banking services (including deposits, withdrawals, fee payments and instant transfers) via the bank’s partner network. The service has already been used by more than 50,000 students for the payment of tuition fees, and also offers complete collection solutions for the bank’s partners’ agencies who no longer wish to handle cash.

The bank has enabled its customers to transfer money instantly from their wallet to all West African Economic and Monetary Union, Central African Economic and Monetary Community and Nigerian wallets, as well as to bank accounts in countries including Nigeria, China, Lebanon and India.

The review period saw the growth of UBA’s African Continental Free Trade Area loan product, launched to provide finance to companies operating in sectors related to sustainable development. In the 12 months to the end of May 2025, the bank provided CFA Fr990.4mn ($1.8mn) of funding to 74 small businesses, including 13 led by women.

Botswana

Stanbic Bank Botswana

Stanbic is the winner of this year’s Bank of the Year award for Botswana, in recognition of the successful implementation of its three-year Letsema (a Sesotho word meaning ‘coming together to work for a common purpose’) 2025 Strategy. Concluding this year, the strategy has seen the bank solidify its position as one of the country’s largest lenders, employing a model that “integrates innovation, operational excellence, and client-centricity”. 

Over the review period, Stanbic introduced a new client engagement model to create solutions with clients, which led to improved customer retention and a 10.4 per cent growth in the balance sheet. The bank also leveraged behavioural analytics and data science to personalise offerings and improve credit scoring, resulting in a 60.8 per cent improvement in credit impairments and a drop in the credit loss ratio from 0.6 to 0.2 per cent.

The bank also made significant investments in its digital infrastructure during the period, enhancing both front-end client experiences and back-end operational efficiency. Key upgrades include improvements to digital banking platforms that made transactions faster, more secure and more accessible, driving strong increases in non-interest income and liabilities.

The Stanbic Growth Funding, a tailored finance product for small and medium-sized enterprises and start-ups was one of the standout products launched by the bank during the review period, supporting local manufacturing, job creation and financial inclusion. Stanbic also partnered with Botswana’s Architects Registration Council for the Sustainable Architecture Challenge, a design competition to develop climate-resilient housing. 

Other highlights include Stanbic’s role as sustainability structuring agent (who works with the borrower to agree on applicable sustainability performance targets and monitoring and reporting requirements) and sole lender in Africa’s first nature conservation financing deal with eco-tourism firm Wilderness Safaris.

The judges also noted Stanbic’s strong financial performance for 2024; profits rose by nearly 50 per cent, while costs and asset quality posted modest improvements. 

Cameroon

Ecobank Cameroun

Ecobank retains its country crown for Cameroon in the face of stiff competition from some big names, with the judges noting progress in the bank’s account opening and consumer credit processes.

“This consecutive recognition underscores our transformation journey, from overhauling customer onboarding to expanding our gender financing platform (Ellevate) and investing in education through technology,” says Ecobank’s Central African Economic and Monetary Community cluster head Gwendoline Abunaw. 

“By listening to clients and simplifying banking, we have raised the bar in service delivery. Next year, we will accelerate innovation and drive greater financial inclusion across Cameroon and the wider region.”

The improvements came as part of the recommendations from a local working group formed at the start of 2025, as part of a group-wide growth and transformation strategy. After optimisation, account opening times reduced by 65 per cent, with the number of forms to be completed by the customer reducing from six to just one.

The consumer credit process was optimised via a series of daily and weekly reporting schedules and the deeper involvement of the bank’s administration team. As a result, the bank’s average wait time for credit applications has halved, from six days to three.

Ecobank’s Cameroon subsidiary reported a significant increase in registrations to the Single Market Trade Hub, launched by the banking group in 2023 in a bid to help African businesses take advantage of the opportunities offered by the African Continental Free-Trade Area. The number of customers onboarded more than quadrupled from 219 in June 2024 to 885 a year later, with the number of local businesses registered nearly trebling over the same period. The efficiency of the hub has increased with its integration with Afreximbank’s Mansa digital repository platform.

Cape Verde

Banco Interatlântico

In a small but competitive market, Banco Interatlântico retains its title of Bank of the Year for Cape Verde, thanks to a strong financial performance together with significant upgrades and services. 

BI recorded strong growth in both assets and Tier 1 capital in 2024, with profits rising by around 50 per cent. Costs and asset quality also improved. 

The bank recorded significant progress in its “Going Full Digital” project, which aims to centralise all data management and automate all reports into a single, cohesive data lake platform. More than 90 per cent of paper usage had been eliminated by end-2024, with an increasing number of customer transactions processed by the bank’s mobile app. 

BI has also upskilled its workforce in use of artificial intelligence, while taking steps to significantly mitigate operational risks by embedding comprehensive detective and preventive quality controls throughout the entire data lifecycle. 

The bank strengthened its digital security via the introduction of a more robust version of its BI Mobile app, which was combined with both internal training and proactive social media campaigns warning about the dangers of cyber crime and the best security procedures to adopt. The app received an upgrade to enable the ordering of pre-paid Visa cards, as well as batch processing of salary files for corporate customers. 

A special microcredit line was launched as a result of a collaboration protocol between the governments of Cape Verde and Portugal, targeting the creation of self-employment, youth entrepreneurship and women’s empowerment. This provides access to financing at controlled costs, helping foster youth investment and improving women’s access to financing.

Chad

UBA Chad

In one of the most challenging business climates in Africa, the Bank of the Year for Chad once again goes to UBA, in recognition of its robust financial performance, product upgrades and corporate social responsibility initiatives. 

UBA has expanded its agency banking programme in order to extend its reach to underserved areas, while deepening its partnerships with local telecommunications companies and the government, supporting the latter with digital payment platforms for taxes, customs and e-visa services.

The bank has also introduced an auto-allocation system for telco merchants and agents, building on pre-existing mobile push and pull services, enabling instant mobile money purchases and resales, enhancing liquidity and agent efficiency.

Other digital upgrades include the implementation of two-factor authentication for access to digital platforms, and the raising of the transaction limit for the bank’s Leo chatbot from CFA Fr250,000 ($440) to CFA Fr1mn.

The review period also saw UBA implement a host-to-host platform, enabling direct and secure data exchange between large corporations and the bank, with agribusiness Olam Group being one of the first customers. The solution enhances operational efficiency, reduces processing time, and ensures end-to-end security.

On the community initiatives side, UBA offered humanitarian aid to orphans and widows in Moussoro, an area impacted by diphtheria, early 2025, by providing donations including rice, pasta, oil, soap, juice and mosquito nets. This year has also seen the bank donate books and laptops to a girls’ school to improve access to education and improve digital literacy. 

The bank also partnered with Chad’s Ministry of Environment to commemorate World Environment Day under the theme of ending plastic pollution worldwide. As part of the occasion, the bank’s staff participated in a waste collection campaign at the central market and surrounding areas.

Comoros

Exim Bank Comores

Exim Bank remains the Bank of the Year for Comoros for a fifth consecutive year. The judges noted the lender’s strong financial performance (even as an increased dividend payment saw its Tier 1 capital drop in 2024) and its ongoing digital transformation programme.

Exim continues to focus on upgrading its alternative channels and digital payments capabilities. Among the key initiatives implemented during the review period was the introduction of straight-through processing, with a view to reducing processing times, minimising human errors and cutting down on operational costs. 

In May, the bank launched its Dunia pre-paid card, a Visa card that does not require an Exim account. June saw the launch of its WhatsApp banking service. In addition the bank enhanced its salary loan products to tap deeper into the retail segment and increase its market share via a combination of product innovation, targeted marketing and strategic partnerships.

Also in June, Exim announced the implementation of an electronic cheque processing system in accordance with guidelines published by the Banque Centrale des Comores. The bank also signed an agreement with cross-border payments firm Onafriq for the enhancement of the bank’s cross-border payment capabilities. 

Other highlights of the review period included the March signing of a memorandum of understanding with the country’s national teachers’ union, marking the beginning of a strategic partnership in the education sector. Under the terms of the agreement, the bank is providing teachers with easy and fast access to payroll loans under favourable and transparent conditions. 

“Over the past year, we have focused on expanding our retail banking services for teachers, civil servants and small businesses, providing accessible, customer-centric solutions while advancing digital transformation,” says Exim’s CEO Guy Rwaburindi. 

“Our priority remains to deliver meaningful value to our clients and support national economic development.”

Côte d’Ivoire

Bridge Bank Group

For the second consecutive year, Bridge Bank has been named as Bank of the Year for Côte d’Ivoire, one of Africa’s fastest growing economies. In addition to solid financials, Bridge Bank receives the award in recognition of its significant digital upgrades and strong product pipeline. 

“This recognition reflects our sustained commitment to innovation, robust digital solutions, and personalised customer service,” says Bridge Bank Group CEO Ehouman Kassi.

“As we look to the year ahead, our focus remains on delivering long-term growth, enhancing financial inclusion and ensuring an exceptional banking experience for our clients.”  

The bank completed the migration of its core banking system in March 2025, replacing its legacy framework with a more robust and scalable platform that is capable of supporting the bank’s long-term ambitions for growth and innovation.

In addition to enabling a key upgrade to its myBridge Touch digital banking solution, the upgrade has enabled the bank to become one of the first lenders to participate in the pilot phase of the Central Bank of West African States’s west African interoperability project, which includes instant payment testing.  

Bridge Bank renewed its PCI DSS certification for the protection of payment card data in May 2025, and is leveraging this to attract premium and institutional clients. 

The bank has also rolled out its Bridge Excelles banking solution for female entrepreneurs. This consists of tailor-made bank accounts with zero initial deposit, free everyday banking operations and personalised support in the form of expert advice, practical workshops, strategic resources and dedicated guidance.

Other highlights of the review period included the January opening of a new branch in Bouaké, the country’s second-largest city; and the launch of the Bridge Study product for school tuition fees. 

Democratic Republic of Congo

Rawbank

In the face of strong competition, Rawbank has once again emerged as Bank of the Year for the Democratic Republic of Congo, thanks to a strong financial performance and an impressive series of achievements across the board. 

A key highlight of the review period was the completion of a bank syndication transaction worth $400mn, to finance the third phase of the Kamoa-Kakula mine expansion in Lualaba. The transaction marked the first time in the country that a local bank structured an international financing transaction, alongside partners including the Africa Finance Corporation, Absa and FBN, and was later praised by the World Economic Forum as a model of “how local banks can drive development impact in high-stakes mining projects”. 

Rawbank also conducted its second issuance of negotiable debt securities, worth $10mn, at the start of the year, on behalf of a local mining operator in the Katanga region. Coming three years after its first issuance, a major innovation in this round was the inclusion of a corporate guarantee — a first for the country — enhancing investor security and expanding financing options available in the money market.

Early in the review period, Rawbank partnered with Chinese card provider UnionPay International to launch the first renminbi UnionPay debit card in Africa, designed to meet the growing demand for seamless financial transactions between the DRC and China. Launched in July 2024, UnionPay card sales increased by 25 per cent during the first quarter of the year. 

On the digital side, the bank enhanced its Illicocash app, offering international payments via WeChat and Alipay, a first in the local market. Agency banking was also reinforced with geolocation services allowing customers to locate ATMs, merchants and financial agents with greater ease.

Djibouti

CAC International Bank

The award for Bank of the Year for Djibouti once again goes to CAC International, in recognition of its new sharia-compliant and insurance subsidiaries in particular. 

The highlight of the review period was the launch of the fully licensed Islamic banking subsidiary CAC Islamic Bank, tapping into a previously underserved segment in the local market. CAC Islamic Bank reported a strong uptake in its first six months, with significant growth in deposits and new accounts contributing to an overall increase in customer acquisition and diversifying the bank’s revenue base.

The past year has also seen CAC build out Trust Assurance, its new insurance subsidiary, which opened its door to the public in the third quarter of the year. The bank hopes to capitalise on growing demand for accessible insurance products among its customers by cross-selling across its branch and digital networks.  

CAC also relaunched its retail credit offerings through a dedicated retail banking branch, reporting a strong performance. The new branch serves as a one-stop centre for retail clients, offering everything from account openings to loan consultations and disbursements. The bank recorded a notable rise in the number of personal accounts opened and a substantial increase in consumer and micro-loans disbursed. 

The bank has leveraged its new Oracle Banking solution to upgrade its MyCAC app, with new services including the free issuance of virtual cards, full card management capabilities, in-app service payments, and cashback earning via the bank’s CACPay QR-based payment system. 

“As the country’s leading financial institution, this award reflects our commitment to innovation, service excellence and financial inclusion,” says Ahmed Al-Dheeb, CAC’s CEO.

“Over the past year, we’ve strengthened our digital capabilities by adding the latest technologies in our services and reinforcing customer focus. Looking ahead, we aim to drive sustainable growth and support Djibouti’s economic development.”

Egypt

Commercial International Bank

Bank of the Year for Egypt is one of the most hotly contested prizes on the African continent. In the midst of extremely strong competition, Commercial International Bank is this year’s winner, thanks to a very strong financial performance in challenging circumstances, together with the deepening of its business lending offerings.

Of particular note has been the success of Commercial International Finance Company, CIB’s wholly owned factoring subsidiary. Launched in early 2024 to serve both large corporates and small and medium-sized enterprise clients, CIFC has had an impressive first year of operations, accumulating a factoring portfolio of more than E£4bn ($84.4mn) at the end of June 2025, with E£2.1bn worth of outstanding balances. CIB is now aiming to rapidly expand its factoring finance business through the integration of financial services through advanced chain management solutions.

In July 2024, CIB announced the launch of its “Sustainable Finance Loan” product, aimed at providing additional finance options to small and medium-sized enterprise customers. The product stems from a two-year partnership between the bank, Deutsche Gesellschaft für Internationale Zusammenarbeit and the Frankfurt Business School for product and capacity building for small businesses, and forms part of the bank’s broader Sustaining SMEs programme. 

The loan product is tailored towards the sector-specific needs of clients, with a particular emphasis on textile, plastic and food and beverage industries, helping them efficiently sustain their businesses, invest in renewable energy and resource efficiency and upgrade their fixed assets. 

November 2024 saw the bank sign a credit risk guarantee agreement with the European Bank for Reconstruction and Development to further support local businesses, helping the bank cover 50 per cent of the credit risk associated with a €50mn SMEs loans portfolio.

“This prestigious accolade underscores our commitment to sustainable finance, digital transformation and innovative customer-centric solutions,” says Islam Zekry, group chief financial officer and executive board member. 

Equatorial Guinea

Ecobank Guinea Ecuatorial

In a challenging operating environment and in the face of strong competition, Ecobank has been crowned as Bank of the Year for Equatorial Guinea for the second consecutive year. 

Ecobank’s key recent achievements in the country include the opening of an CFA Fr482mn ($850,000) branch dedicated to serving major clients operating in the oil and gas sector, which account for the majority of government revenues in the country. This contributed to an uptick in new account applications and the reactivation of dormant accounts. 

The bank also undertook a modernisation of its ATM network, replacing a number of old units with newer models equipped with touch screens and faster user interfaces, improving the availability of its ATM network by 14 per cent. A similar process was undertaken with the bank’s POS terminals. 

“This award recognises our commitment to strategic investment and banking digitalisation in 2025, that have not only strengthened our competitive position but also delivered tangible benefits to our clients and the broader community,” says Ecobank Equatorial Guinea’s managing director Boubacar Diallo. 

“We are proud to set new standards for banking in Equatorial Guinea and remain committed to upholding the highest standards of integrity, transparency and service dedication.”

Faced with a lack of a dedicated module for comprehensive treasury management in its core banking system, Ecobank Guinea Ecuatorial launched a major upgrade of its capabilities in October 2024, in collaboration with the bank’s four other subsidiaries in the region.

The initiative focused on onboarding the five affiliates, not previously on Ecobank’s Calypso platform, via a virtual system called the Trade Capture System, developed by Aristack. The integration into a centralised Calypso environment created a single treasury hub, improving visibility, control and consistency across the group’s treasury operations.

Ethiopia

Dashen Bank

Ethiopia’s banking sector stands on the precipice of significant change following the landmark announcement of the liberalisation of the industry. As foreign players wait to enter the market, Dashen Bank is once again crowned Ethiopia’s Bank of the Year, in recognition of the development of its digital app and marketplace. 

“Being named Bank of the Year for Ethiopia reaffirms Dashen Bank’s commitment to shaping the future of banking through innovation and technology,” says Dashen CEO Asfaw Alemu.

“Looking ahead, we remain dedicated to creating an inclusive, intelligent and digitally empowered financial ecosystem.”

January 2025 saw the bank launch its Dashen Super App, offering payments, ecommerce, lifestyle services and everyday transactions into a single, unified digital ecosystem. Features of the app include integrated bill payment and ticketing, AI-powered self-onboarding, and sharia-compliant banking. The app achieved 700,000 downloads in its first five months, with a transaction volume of more than 5bn birr ($32mn) during the period. 

Also included in the app is Dashen Gebeya, a digital marketplace designed to provide opportunities to local micro, small and medium enterprises, with an integrated delivery service for enhanced customer convenience and satisfaction. More than 70 merchants and brands were onboarded on to the marketplace by mid-2025, enabling them to access Dashen’s 8mn-strong customer base.

In February 2025, Dashen Bank entered a partnership with non-profit Accion and the Mastercard Center for Inclusive Growth to boost financial inclusion for Ethiopian small businesses. As part of the tie-up, Accion is helping Dashen Bank establish a fintech innovation hub dedicated to expanding digital banking solutions for micro, small and medium-sized businesses, with a strong focus on empowering women-led businesses. 

The bank also signed a $40mn trade finance transaction guarantee facility with the African Development Bank in May 2025, significantly boosting the bank’s capacity to support Ethiopia’s vital import and export sectors. 

Gabon

Ecobank Gabon

Ecobank has been crowned the new Bank of the Year for Gabon, in recognition of its role in the reorganisation of the state’s finances from late 2024 onwards. 

Gabon’s economic health has been impacted by falling oil revenues and a failure to rein in spending, resulting in a budget deficit for 2024 and a government debt-to-GDP ratio above 70 per cent. 

In the face of rising interest rates and the higher cost of servicing debt, Gabon in late 2024 and early 2025 carried out early buyback operations of a eurobond maturing in June 2025, in a bid to improve the country’s medium-term fiscal sustainability. The transaction, in which Ecobank Gabon acted as local leader, reduced the outstanding amount from $605mn to $315mn.  

Another highlight of the period was the relaunch of the bank’s RapidTransfer product in January 2025, enabling fast, secure and affordable transfers between countries, both within the Ecobank network and via the bank’s Points Xpress partners. The service generated a monthly average of CFA Fr7mn ($12,000) in monthly revenue in the six months after relaunch.

Ecobank Gabon benefited from the partnerships struck by its parent group with cross-border payment companies Nium, TransferTo and XTransfer to enhance its cross-border payments capabilities.

“This award recognises our leadership in digital transformation and trade finance,” says Ecobank Gabon’s managing director Patrick Egounlety.

“With over 90 per cent of customer transactions now digital, we are helping to modernise Gabon’s financial ecosystem. Looking ahead, we will continue driving innovation and expanding access to reliable, secure, and inclusive financial services for all segments of the economy.”

The bank also benefited from the integration of Ecobank’s Single Market Trade Hub and Afreximbank’s Mansa digital repository platform, announced in December 2024.

Gambia

Ecobank Gambia

Strong financials and the introduction of a pioneering cash deposit machine see Ecobank capture the Bank of the Year award for 2025 for the west African nation. 

“Winning Bank of the Year reflects our dedication to innovation and financial inclusion,” says Ecobank Gambia’s managing director John Nyaaba.  

“We led with pioneering initiatives, from Gambia’s first cash-deposit ATMs to cross-border payment enhancements. In 2026, we will broaden access to banking through digital tools and agency networks, helping more Gambians participate in the formal economy.”

By introducing a secure, automated channel for cash deposits, the bank aims to deepen financial inclusion and empower businesses and individuals to manage their banking needs outside traditional hours.

The cash deposit machine supports the bank’s sustainability goals by promoting a paperless process and reducing the carbon footprint associated with physical cash handling and manual processes.

The review period also saw Ecobank launch its School Ecosystem Customer Value Proposition, providing tailored banking solutions for schools, students, education service providers and fintech companies operating in the space, in alignment with the government’s recovery-focused national development plan.

On the cross-border payments front, Ecobank benefits from the impressive initiatives of its parent company. In addition to partnership deals struck with Nium, TransferTo and XTransfer, Ecobank signed a landmark memorandum of understanding with the Pan-African Payment and Settlement System to facilitate settlement of cross-border transactions. 

The group’s new payments, remittances and fintech business line is examining offering new products including remittance as a service and banking as a service.

Ghana

Zenith Bank

In one of Africa’s most competitive contests, Zenith Bank has emerged as the winner of the Bank of the Year award for Ghana, thanks to its recapitalisation efforts and digital upgrades. 

The bank began a strategic recapitalisation initiative in September 2024, increasing its stated capital from the regulatory capital requirement of 400mn cedis ($36.3mn) to 1bn cedis by leveraging retained earnings. The move has strengthened the bank’s market position, enhanced its competitiveness and preserved shareholder value by avoiding external fundraising. 

The initiative also reinforced investor and customer confidence, supported the bank’s long-term service goals of delivering essential banking services and further strengthened the strategic partnerships with Development Bank Ghana, the African Guarantee Fund and the Mastercard Foundation’s Bridge-in Agriculture programme.

The bank’s partnership with the latter began in May 2025, with a view to expanding its efforts to provide affordable agricultural finance. A total of 22.2mn cedis were provided by the bank under the programme in its first month. 

In terms of technical upgrades, Zenith adopted Calypso — a comprehensive treasury and risk management platform implemented to enhance operational efficiency in the bank’s treasury, risk and treasury operations departments — in January 2025. Executed in partnership with Adenza and Seaico, the software supports real-time monitoring, advanced analytics, and automation of manual processes, improving the bank’s ability to manage market, credit and operational risks. 

The system’s real-time analytics and automation capabilities have significantly reduced manual processes, leading to a 30 per cent decrease in operational errors and a 95 per cent improvement in transaction processing speed. 

The bank also launched bulk payment solution Z-Transfer, offering real-time, secure and scalable payment capabilities, enhancing operational efficiency for clients.

Guinea

Ecobank Guinée

Ecobank has regained the title of Bank of the Year for Guinea, which it last held in 2023, thanks to a combination of strong financial numbers and its new mining desk initiative. 

In August 2024, the bank created a strategic desk dedicated to the mining industry and Chinese companies, as a one-stop shop to consolidate its capabilities. Served by a multilingual customer service team, the desk underscores the bank’s commitment to Guinea’s all-important mining sector and its wider value chain. 

Another highlight for the year was the integration of the bank’s agency banking API with that of regional payments firm Intouch, enabling Ecobank customers to make deposits and withdrawals at InTouch’s Touch Point service points, increasing access to banking services. 

March 2025 saw the bank re-launch the local version of the Ecobank Group’s Ellevate programme to support women entrepreneurs. The bank has also successfully renewed four key certifications, namely ISO 27001 for information security, ISO 22301 for business continuity, PCI-DSS for card management, and CSP-Swift for secure international transfers.

On the product side, the bank launched its Sanad (the Arabic word for companion) card in late 2024, a prepaid Visa card offered to support Muslim pilgrims during the Hajj season. The card, which enables pilgrims to make secure financial transactions without having to use cash, is accepted at more than 24mn point-of-sale terminals and 1.6mn ATMs Worldwide.

“This award highlights our focus on key growth sectors like mining and our commitment to customer-centric innovation,” says Ecobank Guinea managing director Diawadou Bah.

“With multilingual service desks and inclusive products like Ellevate 2.0, we are transforming banking in Guinea. In the coming year, we will enhance sector-focused banking and broaden our digital reach.”

Kenya

Absa Bank Kenya

The Bank of the Year award for Kenya, one of the most hotly contested in Africa, this year goes to Absa Bank, in recognition of the success of its new segment-led approach to winning new business. 

A key highlight for Absa over the review period was the repositioning of the bank’s business unit’s focus from a product-centric model to a segment-led, ecosystem-driven approach to better capture opportunities across the entire value chain, deepen customer relationships and deliver enhanced value. 

The approach involved dissecting the bank’s key business lines — consumer banking, business banking, and corporate and investment banking — and developing targeted segments and microsegments with tailored solutions. The approach further entailed identifying anchor and sub-anchor clients and ensuring the bank could service their entire value chains through customised offerings.

The strategy led to the expansion of the bank’s distribution channels in strategic locations, growth in its active customer base and enhanced business diversification. It also enabled the establishment of the bank’s Affluent segment and the launch of its Prestige offering, secured market leadership in both the bancassurance and Islamic banking segments, and drove market share gains in its corporate banking business.

Another recent highlight was the launch of the bank’s Absa Pay solution, offering a tap-to-pay feature via mobile phones, and the strong growth of its Timiza wallet offering. The bank’s non-branch transaction adoption grew to over 90 per cent by end-2024, with more than one in four new customers now joining via digital channels. 

While it was not immune from the rising non-performing loans that is a feature of the entire Kenyan banking sector, Absa posted otherwise solid results for 2024, with profitability and cost efficiency both showing improvements. 

Lesotho

Standard Lesotho Bank

After last winning the Bank of the Year award for Lesotho in 2023, Standard Bank is once again crowned as the country’s best bank in recognition of its trade finance offerings, corporate social responsibility initiatives and upgrades to its digital product line-up. 

The review period saw the bank relaunch its Trade Campaign, continuing efforts to make local people aware of the available options that respond to the challenge of access to finance for businesses, particularly those in commercial banking. Standard Lesotho Bank’s new Trade Finance solutions have been designed to eliminate this barrier, centred around invoice discounting finance, local purchase orders and contract finance products. 

Standard Lesotho Bank in November 2024 announced a two-year partnership with the Examinations Council of Lesotho for the Unity for Student Success programme. The bank has committed R300,000 ($17,000) to fund Grade 11 examinations, supporting learners in their transition to tertiary education. The initiative builds on the Standard Lesotho Bank Bursary initiative, launched in 2021, which supports 50 academically gifted but financially disadvantaged students through their high school education. 

The review period also saw the bank introduce its WhatsApp chatbot Karabo, introduced for retail clients in 2023, to its business banking customers. The bank connected into the country’s National Payment Switch, enhancing access to other banks’ ATMs while lowering withdrawal fees. 

On March 28 2025, Standard Lesotho Bank participated in the National Tree Planting Day, reinforcing its commitment to environmental sustainability and climate resilience. The nationwide initiative saw 130,000 trees planted across Lesotho, a significant step towards combating deforestation and promoting ecological restoration.

Liberia

UBA Liberia

UBA has won the Bank of the Year award for Liberia for the first time since 2022, in recognition of its strong financial performance and its digital banking transformation programme. 

The bank focused on expanding its digital channels, deepening financial inclusion and improving operational efficiency throughout the review period. This centred on the revamp of core platforms including its UBA mobile app and its AI-powered LEO banking chatbot. 

UBA also implemented an aggressive agent banking strategy aimed at reaching underserved and unbanked populations across the country. By partnering with local merchants and individuals to act as banking agents, the bank extended its footprint to rural and remote areas where traditional branches are not feasible.

Internally, the bank invested in automating its operational and processing systems, leading to faster turnaround times for account opening, loan disbursements and customer service requests. Staff were trained on digital tools and customer engagement practices, enhancing productivity and responsiveness across all service points.

UBA experienced a 45 per cent increase in digital transaction volumes, a significant rise in agent banking activity, and strong growth in new account openings via digital channels. 

The bank has also fully adopted and promoted the Pan-African Payment and Settlement System, the centralised payment and settlement infrastructure developed by Afreximbank that facilitates instant, cross-border payments in local African currencies. 

UBA Liberia’s participation in PAPSS aligns with the broader UBA Group’s pan-African integration agenda and has uniquely positioned the bank to serve the rising demand for fast, cost-effective, and reliable payment systems within West Africa and across the continent.

The bank has reported a significant increase in PAPSS-powered transactions, driven by small and medium-sized enterprises and institutional clients seeking faster and cheaper payment alternatives.

Malawi

Standard Bank Malawi

For the first time since 2022, Standard Bank has won the Bank of the Year for Malawi, in recognition of the lender’s digital advances and the success of its new strategic focus. 

The bank has recently successfully implemented the new operating model to become “business unit-led”. Under the new initiative, business units are responsible for designing and executing client value proposition strategy, owning client relationships and creating multi-product customer experiences to address life events, distributed through the client engagement platforms.

The business units are supported by the bank’s corporate functions, including information technology, operations and real estate, finance and value management, risk, legal and governance, people and culture, internal audit, compliance, and branding and marketing. 

Standard Bank continues to make progress in the uptake of digital banking services by its clients, with digital transactions increasing by around 24 per cent year on year. Within its personal and private banking unit, the bank has introduced a new system for the delivery of payday loans via USSD mobile technology, which allows real-time communication, while revising USSD mobile menu flows for easier navigation. The bank also launched digital lending for its business and commercial banking customers. 

Another recent innovation is Standard Bank’s Unayo platform, which enables customers to send and receive money, and make payments. More than 500,000 users and 28,000 merchants had registered on the platform by the end of 2024. Furthermore, the platform provided a last-mile solution to more than 30 organisations with cash disbursement activities, reaching over 158 thousand beneficiaries by the same date. 

Beyond a sharp increase in non-performing loans, Standard Bank reported a solid financial performance for 2024, with a jump in profitability and continued progress in reducing costs. 

Mali

UBA Mali

For the second year in a row UBA is the winner of the Bank of the Year award for Mali. The bank has held steady in the midst of a challenging operating environment, with Islamist violence and disruption in the critical mining sector restricting economic growth. 

On the wholesale banking side, the bank continued to support the funding needs of both the government and local corporations. Highlights on the government lending side included providing financing for the value chain of state-owned electricity provider Energie du Mali, alongside a restructuring of the utility’s debt, as well as participating in raising syndicated loans for state-owned textile manufacturer CMDT.

The bank provided financing on behalf of the local Order of Physicians to acquire solar equipment for the group’s approximately 30 private clinics. The financing, amounting to around $1mn, was designed to address the energy deficit suffered by clinics due to chronic power outages from Energie du Mali. 

Among the new products launched by UBA Mali, the bank’s new pensionary loan stands out, offering loans to pensioners under programmes offered by the Institut National de Prévoyance Sociale and members of the Caisse de Solidarité. The loans offer financing opportunities tailored to pensioners’ specific needs, enabling them to realise their personal and professional projects under advantageous conditions. 

On the technology front, UBA deployed its new Mgate SMS banking platform, using Wirepick as a service provider, in late 2024. The upgrade has already begun to deliver measurable results in operational efficiency and customer engagement, with cost savings of over CFA Fr70m (£123,000) expected annually. The bank has also invested in solar panels to improve the autonomy of its ATMs.

Mauritius

Absa Bank Mauritius

Mauritius is one of Africa’s most important financial centres, making the country’s Bank of the Year a hotly contested prize. In the midst of strong competition from the island’s big names, Absa Bank Mauritius is this year’s winner.

A key highlight for the review period was the completion of Absa’s acquisition and integration of HSBC Mauritius’s domestic wealth and personal banking and business banking operations. By acquiring a deposit-rich portfolio, the bank secured a stable, cost-effective funding base to support Absa’s capital-light, revenue-generating strategy, putting the bank within touching distance of the country’s top three banks. The migration, completed in July 2024, successfully onboarded approximately 38,000 clients and 67 HSBC colleagues. 

The end of 2024 saw Absa launch “Spark for Business”, a mobile application designed to empower Mauritian merchants (from sole traders and small businesses to larger multi-outlets stores, restaurants and hotels) with a seamless, omni-channel, digital-first financial management and payment solution. Spark for Business offers an end-to-end platform that enables merchants to accept and manage digital payments, track business performance, and streamline operations without the need for point-of-sale terminals or even an Absa bank account.

The platform had onboarded more than 250 merchants by mid-2025, including both Absa and non-Absa customers, and processed over 50,000 transactions with a gross merchandise value of more than 22mn ouguiya ($554,000).

In early 2025, the bank launched a new sustainable trade finance facility aimed at supporting businesses in adopting environmentally responsible practices. It supports environmentally sustainable trade activities, and adhering to international best practice and guidance published by bodies including the International Capital Market Association, the Loan Market, and the Loan Syndications and Trading Association. 

“This recognition is a testament to our relentless pursuit of excellence and innovation. It reflects our strong growth agenda, driven by strategic diversification and successful inorganic expansion,” says CEO Ravin Dajee. 

Morocco

Bank of Africa

For the second consecutive year, Bank of Africa has been awarded the Bank of the Year award for Morocco, Africa’s fourth-largest economy. The award recognises a key upgrade of the bank’s supply chain financing platform, together with the bank’s continued partnership with the EU and the European Bank for Reconstruction and Development to boost investment in renewable energy in the country.

One of Bank of Africa’s key strengths is in transaction banking services, where it holds a market share of around 25 per cent. In late 2024 it launched an updated version of its SCF by BOA supply chain finance platform, enabling the optimisation of relations between buyers and suppliers, thanks to advanced features such as outsourced management of payment schedules, immediate access to competitive financing, shortened payment terms and improved visibility on financial transactions.

To widen the use of the service, the bank offers support and a full training programme for order givers’ ecosystems.

In May 2025, the bank announced the signing of €70mn worth of loans from the EBRD to boost access to finance for private businesses in Morocco. The financing package was provided via the EU-backed Morocco Decarbonisation and Climate resilience programme, consisting of a senior unsecured loan of up to €35mn from the Green Climate Fund and a senior unsecured loan of up to €35mn co-financed by the EBRD’s High-Impact Partnership on Climate Action.

The facility will help BOA extend on-lending to Moroccan private-sector companies — including micro, small and medium-sized enterprises — aiming to invest in climate change mitigation and adaptation technologies.

In February 2025, the bank supported the Al Wahda thermal power plant, as part of a financial structuring combining bank debt and access to the capital markets. The future power plant aims to support the large-scale integration of renewable energy and contribute to the reduction of Morocco’s carbon footprint.

Mozambique

UBA Moçambique

In a competitive country category, UBA regains its title of Bank of the Year for Mozambique.

“We sincerely thank our esteemed clients, partners and staff whose trust has earned us Bank of the Year,” says UBA Moçambique CEO Pedro Maranguene.

“Guided by shifting market trends, our global position has allowed us to serve more efficiently and deepened customer and stakeholder engagement. Financial inclusion is in our hearts as well as various social initiatives to champion sustainable growth. This recognition … inspires our continued commitment to excellence in serving Africa’s evolving financial needs.”

One of the bank’s key strategic initiatives of the review period has been its SME Growth Programme, a multi-faceted effort combining digital innovation, tailored financial products and ecosystem partnerships to address the evolving needs of small and medium-sized enterprises. The bank deployed a digital SME lending platform to streamline loan applications and onboarding, reducing loan processing times from an average of five days to less than 24 hours. This platform now serves as the central gateway for SME clients to access working capital, equipment finance and trade solutions.

The initiative includes SME advisory and ecosystem services, offering tools for cash flow forecasting, business planning and financial health assessments, together with segmented product innovation, offering tailored financial solutions for key segments including female-led enterprises, green SMEs and early stage start-ups. 

The programme has seen a significant increase in SME customer acquisitions and in loan disbursements via digital channels, while non-performing loan ratios remained stable. The initiative contributed to a 7 per cent reduction in operational costs per SME loan, enhancing profitability and freeing up capital for reinvestment in innovation and regional expansion.

Namibia

Bank Windhoek

Bank Windhoek is the winner of the Bank of the Year award for Namibia for the first time since 2021. In addition to its strong finances, the bank is recognised for its new Selekt Red campaign. 

The bank, the third-largest in Namibia by assets, launched the Selekt Red offering in the second half of 2024 as its flagship proposition for retail customers. The offering consists of a current account that offers flexible pricing through bundled pricing or a “pay as you go” option. The account is complemented by customisable ‘savings pockets’ that enable customers to personalise their saving goals, as well as a “swipe and save” feature, which allows a customer to save a nominal amount every time they swipe their debit card for any purchase. It also contains embedded bancassurance that offers automatic funeral and legal cover. 

Another key product launch during the review period was the bank’s handheld point-of-sale device for small and medium-sized enterprises with an annual turnover not exceeding N$5mn ($291,000), targeted especially at businesses in fast-moving consumer goods, hospitality and transport. 

In January 2025, Bank Windhoek announced the launch of its refreshed corporate identity, a step reflecting the brand’s evolution and commitment to staying relevant in an ever-changing financial landscape. The new identity introduces updated colour palettes, patterns, fonts and iconography, showcasing a progressive and dynamic look that builds on the brand’s legacy.

“This award affirms our commitment to shaping a modern and resilient, truly Namibian bank that contributes to Namibia’s growth and shared prosperity,” says James Chapman, chief executive officer, Bank Windhoek. 

Nigeria

Access Bank

The Bank of the Year award for Nigeria is one of the most strongly contested titles in the series. For the first time since 2019, Access Bank — Nigeria’s largest lender by assets — has won the crown, with the judges taking note of the bank’s ongoing acquisition strategy.

Access executed a share purchase agreement in November 2024 to acquire AfrAsia, the third-largest bank in Mauritius, via its UK subsidiary. The deal was formally closed in July 2025. With total assets in excess of $6bn, AfrAsia provides Access with a ready-made platform for scaling cross-border trade, wealth management and foreign currency services, giving the Nigerian lender a physical presence in the continent’s onshore and offshore financial centres. 

The AfrAsia platform enhances Access’s ability to offer bespoke wealth solutions to high-net-worth individuals across three continents, boost dollar and euro liquidity access (thereby reducing funding volatility across the bank’s African subsidiaries) and strengthen trade finance and treasury operations, especially along Asia-Africa corridors.

The combined operations of Access Bank UK and AfrAsia Bank are projected to deliver more than $725mn in gross earnings and $280mn in profit after tax annually, with pro forma assets exceeding $11.5bn. Internally, the bank anticipates an uplift of between 20 per cent and 30 per cent in non-naira liquidity and a measurable increase in offshore client acquisition across retail and corporate banking segments. 

The review period also saw Access finalise its acquisition of Standard Chartered’s operations in Gambia and Tanzania, as well as National Bank of Kenya from the KCB Group.   

On the technical front, the bank completed its core banking application upgrade from Flexcube v12 to v14.7, enabling sub-second transaction processing, reducing failure rates to 0.001 per cent, and enhancing know-your-customer workflows.

Republic of Congo

UBA Congo Brazzaville

UBA has been named as the Bank of the Year for the Republic of Congo, an award it last won in 2023. Despite lower than average financial performance, which saw profits and asset quality deteriorate, the judges took note of the bank’s efforts to boost its market share among small and medium-sized enterprises. 

At the heart of the bank’s strategy to target SMEs is its goal of leveraging existing relationships with large corporate customers to unlock value across their supply chain networks. The bank identified suppliers and partners within the ecosystems of key wholesale clients and positioned them as prospective SME banking clients, holding joint client engagement sessions involving both retail and wholesale banking teams. 

To reinforce the commercial strategy with a social impact dimension, UBA Congo launched a nationwide capacity building programme aimed at SMEs and early-stage business owners and emerging entrepreneurs. Open to all project owners regardless of whether or not they were already clients, the programme offers free training in business planning, financial literacy and access to markets, with more than 200 participants benefiting from the first training session.

The bank also introduced the UBA Business Series, a bi-monthly series of sessions that invites successful local entrepreneurs to share their journeys, challenges and lessons learned with aspiring business owners. 

Another highlight of the year was the modernisation of the bank’s point-of-sale terminal fleet via the rollout of next-generation Verifone devices. With legacy terminals reporting increasing transaction failures, the bank began a phased deployment of new, high-performance terminals across the key commercial hubs of Brazzaville and Pointe-Noire.

Between January and April 2025, UBA recorded a strong increase in POS activity following the deployment of the new terminals, with the number of monthly transactions increasing by 1,248 per cent, reflecting a significant boost in merchant and customer engagement. 

“This prestigious recognition reflects the dedication of our teams, the trust of our customers, and UBA Congo’s unwavering pursuit of excellence,” says UBA Congo chief executive Mariam Yago Toure. 

Rwanda

BPR Bank Rwanda

BPR Bank Rwanda is the winner of the fast-growing east African nation’s Bank of the Year award for a second consecutive year, in recognition of its efforts within the country’s small and medium-sized enterprise sector and its upgraded digital services suite.

September 2024 saw BPR announce a financing package of up to $60mn from the International Finance Corporation and other development finance institutions to allow Rwanda’s third-largest bank by asset size to expand access to credit to the country’s SMEs. The financing is targeted towards companies in sectors that bolster the country’s economic diversification, such manufacturing, agribusiness and services, with at least 25 per cent of the funds specifically designated to support women-owned SMEs.  

As part of the arrangement, the IFC is helping the bank to develop and incorporate sector-specific environmental and social processes into its credit review procedures and roll out environmental and social risk management training to all staff members. 

BPR has also launched Ikamba (the Kinyarwanda word for “crown”), a financial solution tailored specifically for women-led and women-owned SMEs that offers reduced fees, dedicated service desks, exclusive capacity-building programmes, and loans of up to RwFr100mn ($68,900) with no additional collateral.

“Through a deeper focus on sustainability and strategic partnerships, we have made deliberate investments in MSMEs with a focus on women-owned businesses as the engine of Rwanda’s economic growth,” says BPR Rwanda’s managing director Patience Mutesi.

“These initiatives have driven robust business growth, enhanced customer experience, and reaffirmed BPR’s leadership in Rwanda’s financial sector.” 

On the technical side, the bank launched a new mobile and internet banking platform as part of its unified omnichannel project, streamlining system performance and improving user experience by integrating USSD, iBank and Mobi services with a modern back-end.

Senegal

UBA Senegal

For the first time since 2021, UBA is the winner of the Bank of the Year for Senegal. In addition to a healthy rise in profitability and improvement in asset quality, the bank was recognised for its partnership with local fintech Keyzen and the enhancement of its payments architecture. 

UBA and Keyzen in February 2025 announced the integration of that latter’s virtual pre-paid bank card platform, part of a broader transformation programme led by the bank’s digital unit to align with the UBA Group’s long-term commitment to innovation, convenience and financial inclusion.

The platform allows users to instantly generate a virtual pre-paid card from their mobile devices. It offers a seamless way to make online payments securely, without needing a physical card. The reloadable feature via the UBA mobile app ensures continuous and convenient use.

In the months after the rollout of Keyzen on its platform, UBA experienced a 30 per cent increase in mobile app transactions, increased customer retention, and a 15 per cent growth in customer acquisitions among young professionals, students and digital entrepreneurs.

Another highlight of the review period for the bank was the integration of payment gateway Afripay Gateway and VISA CyberSource, enhancing the bank’s secure, scalable and efficient payment solutions for corporate, government, retail and small and medium-sized enterprise clients. 

The integrations delivered tangible performance improvements, including a sizeable increase in processed online payment volumes across sectors, and enhanced merchant onboarding for digital collections.

To strengthen real-time customer engagement, UBA has deployed QR code feedback terminals across all 11 branches and ATM locations, allowing customers to instantly submit their suggestions, concerns or compliments during their visit.

Sierra Leone

UBA Sierra Leone

UBA wins the Bank of the Year for Sierra Leone — an award it last won in 2023 — in recognition of strong financial performance and the restructuring of its sales structures. 

UBA, which entered the west African market in 2018, has updated its sales structure by merging its personal banking and consumer lending teams into a unified personal banking division. The bank has also combined its small and medium-sized enterprises, commercial and corporate banking teams into a single business banking unit. The new structure streamlines decision-making and reduces internal complexity. With fewer management layers and clearer accountability, the bank can respond more rapidly to customer needs and market changes.

This shift from a product-based to a customer-centric model has enabled the bank to offer comprehensive financial packages tailored to the unique needs of individuals and businesses, fostering customer deeper relationships, particularly with the SME sector, that enable the bank to better understand and address the specific challenges and opportunities clients face. 

Other highlights for the period include the doubling of the lending limit to 1mn leone for the bank’s “No Wahala” loan product for regular salary earners in the public and private sectors, and the introduction of Swift remittances for corporate customers via the bank’s internet banking offering. 

The loan allows customers to access up to 60 per cent of their monthly salary as a short-term overdraft facility, repayable over a maximum tenor of 12 months to 48 months. The bank’s requirement for employer confirmation and salary domiciliation ensures a secure lending environment, reducing credit risk and enabling the bank to offer attractive terms.

South Africa

Investec

The Bank of the Year award for South Africa is one of the continent’s most coveted, given the size of the country’s economy and the dynamism of its local banking market. For the second year in a row, the award goes to Investec, in recognition of its strong new products offering and the expansion of its footprint overseas. 

One of Investec’s highlights of the review period was the opening of its office in the Dubai International Financial Centre, a strategic expansion to enhance the bank’s global footprint and to connect high-net-worth individuals, family offices and financial institutions in the Gulf Co-operation Council region to its international network. 

The period also saw the launch of the bank’s multicurrency account for private banking clients, enabling them to hold, manage and transact across rand, dollars, pounds and euros. The offering is powered by Investec’s “Intelligent Routing” technology, which automatically detects the currency of the transaction and routes it through the appropriate currency “pocket” without requiring any manual input from the client. 

The platform’s real-time currency conversion and instant funding capabilities allow clients to respond quickly to market movements, manage forex exposure and plan international spending with precision.

Investec also launched Clarity, a next-generation self-managed trading platform. Initially piloted with Investec private banking clients in 2024, Clarity officially opened to the wider public in 2025, offering a powerful, intuitive and transparent platform for investors of all experience levels.

Clarity provides access to more than 750 financial instruments across local and international markets, including shares, ETFs, indices and more. Clients can start with as little as R25 ($1.43), while the platform also supports portfolios exceeding R1mn.

“This award is an honour that reflects the trust our clients place in us and the dedication of our people. This recognition speaks to our commitment to excellence, integrity and impact,” said Cumesh Moodliar, chief executive of Investec South Africa. 

Tanzania

Stanbic Bank Tanzania

In a competitive market, Stanbic has been awarded the Bank of the Year award for Tanzania for the first time in three years, in recognition of its financing efforts within the country’s energy and infrastructure sector, together with its innovations in distributor financing. 

Stanic supported Tanzania’s industrialisation programme, providing around TSh2.6tn ($1.1bn) in development financing in the country’s energy, energy, logistics and transport sectors in the year to the end of June 2025. Such financing supported critical infrastructure developments such as port modernisation, power grid expansions and liquid natural gas value chain financing. 

A core element of this strategy was the launch of the bulk procurement system financing programme, a $240mn facility designed to support petroleum suppliers operating under Tanzania’s centralised import regime. Stanbic’s BPS financing solution included tailored letters of credit, guarantees and cash flow-aligned repayment terms. As a result, the bank rapidly gained more than 20 per cent of the BPS supplier financing market, while generating projected revenues of $3.9mn.

“Over the past year, we have taken a bold posture, deploying capital into transformative energy, trade and infrastructure projects, expanding financial access through digital solutions and catalysing cross-border investment flows,” says Stanbic Tanzania chief executive Manzi Rwegasira.

“Looking ahead, we remain committed to leveraging our group’s reach, balance sheet and expertise to turn opportunity into impact across Tanzania and beyond.”

Stanbic has enjoyed success via its partnership with local fintech Ramani to enhance the bank’s distributor financing offering, particularly for small and medium-sized enterprise clients. In June 2024, the bank implemented API-driven automation for distributor financing, so that when a distributor places an order via Ramani’s platform, the system instantly validates the request, creates a loan account, disburses funds to the supplier, and sends confirmation-all within six to 10 seconds.

Togo

Ecobank Togo

Ecobank retains its title of Bank of the Year for its home market of Togo, in recognition of the launch of the group’s payments, remittances and fintech business line. 

“This new recognition reflects our steadfast commitment to innovation,” says Ecobank Togo managing director Estelle Komlan. 

“We remain deeply committed to driving the digital transformation of payments and financing in the Togolese economy, as we continue to strengthen our position as the market leader.”

The PRF business line has already earned significant partnership agreements; in June 2024 the bank signed a memorandum of understanding with The Pan-African Payment and Settlement System, the real-time gross settlement solution launched in 2022 by Afreximbank and the African Union, to facilitate settlement of cross-border transactions. As part of the agreement, Ecobank will act as interbank settlement agent for central banks that haven’t onboarded on to the system. 

In November 2024 the Ecobank Group partnered with Singaporean cross-border payments company Nium to enable seamless cross-border payments across 35 African markets for 32mn customers. Under the terms of the agreement, Nium has integrated its real-time payments infrastructure into Ecobank’s existing banking operations, empowering Ecobank to enhance its services for small and medium-sized enterprises in particular. Ecobank has connected its existing Swift workflows to Nium, gaining access to real-time transfers, updates, clearing, settlement and payment tracking, without needing complex API integrations.

The same month saw the bank sign an MoU with global payments infrastructure group TransferTo to expand access to credit, digital products and cross-border payment solutions. 

February 2025 saw an agreement signed with Hong Kong-headquartered XTransfer, in order to facilitate trade between China and African countries. XTransfer is leveraging Ecobank’s extensive network across Africa, enabling the company’s Chinese clients to collect funds in local African currencies while assisting African SMEs to make payments in local currencies, negating foreign exchange issues.

Tunisia

Banque de Tunisie

Banque de Tunisie has seen off strong domestic competition to win the Bank of the Year award for Tunisia for a second year in a row. In addition to a good financial performance for the year, the judges took note of the bank’s ongoing efforts to modernise its tech infrastructure. 

One of the latest notable achievements of the bank’s ongoing tech upgrade programme has been the implementation of the Sopra Banking Platform, Core Amplitude. The overhaul of Banque de Tunisie’s core banking system has enabled it to optimise internal processes, enhance the security of operations and improve commercial responsiveness. The deployment of the new platform has so far resulted in greater flexibility in managing banking products and an enhanced digital customer experience.

The bank has also rolled out a new human resources information system, which became operational in November 2024. This initiative has improved employee data management, simplified administrative processes and fostered a more flexible and efficient working environment. This has led to enhanced internal expertise, increased customer satisfaction, upgraded service offerings, greater employee retention and improved capacity to anticipate technological and regulatory changes. 

On the customer-facing side, Banque de Tunisie in 2025 launched a new version of its online banking platform BTNET. Alongside a redesigned interface and a more intuitive user journey, new features of the platform include real-time cheque balance consultation, mobile payment management via digital wallets, and the ability to pay local bills from local ISP Topnet directly through the platform.

In December 2024, the bank launched SICAV Capitalisation Plus, an innovative investment product designed to meet the expectations of investors seeking long-term capital growth while benefiting from professional and diversified management. The product allows for the automatic reinvestment of generated income (dividends, interest, capital gains) back into the fund, thereby maximising the effect of compounding and the accumulation of capital over time.  

Zambia

UBA Zambia

For a second consecutive year, UBA has won the Bank of the Year award for Zambia, in recognition of its contribution to the local economy and its point-of-sale terminal upgrades. 

The bank experienced a challenging 2024 due to an upward adjustment in the statutory reserve ratio and the implementation of the Single Treasury Account (a new system designed to consolidate government funds for improved cash management and public financial control) by the central bank. Yet its asset quality remains significantly higher than those of its peers, with non-performing loan rates of around 1 per cent, thanks to strengthened credit processes and proactive portfolio monitoring.

The review period saw UBA enhance access to finance for the country’s tobacco industry, which, despite its contribution to global health issues, is a source of income for many local farmers. The bank has provided prepaid cards to tobacco farmers via partnerships with Tobwe Processing and Buyleaf Tobacco, enabling farmers to receive direct payments for their produce without the need for a traditional bank account, and improving payment traceability 

The bank also offers input loans to farmers in partnership with Alliance One, a local tobacco leaf merchant. Alliance One guarantees and repays these loans upfront, with farmers repaying them post-harvest, ensuring sustained support for rural agricultural activities.

On the digital front, UBA upgraded its POS terminals to accept payments from mobile money providers such as Airtel Money, MTN Mobile Money and Zamtel Kwacha, in addition to traditional card schemes like Visa and MasterCard. The integration has served to expand digital payment access to merchants and consumers outside the formal banking system.

Mobile money transfer capabilities have also been added to the bank’s Leo chatbot, together with real-time interbank transfers, as part of a major upgrade at the end of 2024. UBA recorded a 35 per cent increase in digital transaction volume originating from chat-based platforms since the upgrade, with the ease and accessibility of chatbot banking contributing to a 20 per cent rise in new customer acquisitions. 

Zimbabwe

First Capital Bank

For the first time since 2019, there is a new winner of Zimbabwe’s Bank of the Year award. First Capital Bank has been awarded this year’s title, in recognition of its internal transformation programme and the relaunch of its mobile banking platform and its unsecured lending product. 

The review period saw First Capital Bank focus on its strategic intent, enhance its business model and undergo a difficult but necessary business transformation and realignment to guarantee the long-term sustainability and responsiveness of its business to emerging opportunities, capabilities and risks.

The transformation has strengthened First Capital Bank’s structural resilience, optimised cost frameworks and enhanced decision-making agility. With streamlined operations, the bank’s focus is on accelerated growth through harnessing the pockets of opportunities, deepening relationships, developing market-relevant solutions and scaling access to services coupled with investment in brand and market positioning.

As a result, the bank has seen significant uptick in its deposit and loan bases, and a lower loan loss coverage ratio thanks to enhanced loan book quality. 

First Capital Bank also upgraded its mobile banking platform during the review period, improving usability, system reliability and digital accessibility for both retail customers and small and medium-sized companies. The bank reported a 22 per cent rise in mobile transactions and a 15 per cent rise in daily active users in the months following the upgrade, with system downtime reduced by 90 per cent. 

The bank also relaunched its unsecured consumer lending product for government employees with instalment deductions made directly from the Salary Services Bureau, the government’s paymaster unit. The relaunch included significant improvements in the distribution model, focusing on enhanced accessibility for customers in marginalised areas, adoption of an online self-service platform for customers to initiate transactions, and the empowerment of field operators to instantly initiate applications.