Dominic Adu
FIRST NATIONAL Bank (FNB) has been awarded Best Investment Bank in Ghana for 2022.
The award, from the prestigious Global Finance magazine, is in recognition of the bank’s role in the conclusion of some significant landmark deals. These includethe assistance thatenabled the government of Ghana toconduct a tender offer on its 2023 notes and raise more than $3 billion in Eurobonds.
The transaction included several market firsts, most notably the placement of a benchmark Zero-Coupon tranche which provided 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 fullest potential and alsoassist individuals achieve their personal financial goals. As we continue with the recovery 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 on 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.
A business desk report