First National Bank Ghana awarded Best Investment Bank in Africa by Global Finance

PRESS RELEASE

08 March 2022

The award from the prestigious Global Finance Magazine recognises the bank’s role in concluding some significant landmark deals such as enabling the government of Ghana to conduct a tender offer on its 2023 notes and raise more than US$3 billion in Eurobonds.  

The transaction included several market firsts, most notably the placement of a benchmark Zero-Coupon tranche which gave Ghana additional fiscal capacity without having to service interest over its four-year tenor.

Chief Executive Officer of First National Bank Ghana, Dominic Adu, says the award bears testimony to the bank’s strategic role in Ghana’s economic development.

“We have worked and will continue to work with the government of Ghana to consolidate our economic gains as a nation, helping to raise the necessary funding for infrastructure we need to keep the economy moving,” Mr. Adu says.

“Not only are we supporting the government with our expertise and global connections, but we are here to help Ghanaian business reach their full potential and assist individuals to achieve their personal financial goals. As we continue to recover from the COVID-19 pandemic, First National Bank Ghana will continue to provide all the support the country needs to get back on the path of economic growth.”

Editors at Global Finance Magazine, with input from industry experts, used a series of criteria to confer the award of Africa’s Best Investment Bank for First National Bank Ghana and FNB Mozambique. The criteria included entries from banks, market share, number and size of deals, service and advice, structuring capabilities, distribution network, efforts to address market conditions, innovation, pricing, after-market performance of underwritings and market reputation. Deals announced or completed in 2021 were considered.

First National Bank Ghana is a member of South Africa’s First Rand Group. Another member of the Group, FNB Mozambique was recognised by Global Finance Magazine as the Best Investment Bank in the Southern African nation.

“Investment banks are playing a leading role in reshaping the world economy as the pandemic progresses,” says Joseph D. Giarraputo, publisher and editorial director of Global Finance Magazine. “It is more important than ever for companies to understand the specialties and skills that investment banks bring to the table. Global Finance’s Investment Bank Awards are a powerful resource on the leading institutions in this sector.”