The prestigious Global Finance Magazine has recognised First National Bank Ghana and FNB Mozambique as the Best Investment Banks in Africa in 2022; in the country and territory awards.

This formed part of Global Finance magazines annual World’s Best Investment Banks survey.

First National Bank was recognised for concluding some significant landmark deals. This included assisting the Republic of Ghana to raise $3 billion plus in Eurobonds and conduct a tender offer on its 2023 notes.

The transaction included several market firsts, most notably the placement of a benchmark Zero-Coupon tranche which provided Ghana additional fiscal capacity through not having to service interest over its four-year tenor.

In Mozambique, FNB proudly participated in the flagship LNG Project.

This project represented a tremendous achievement for not only Mozambique’s economy but for the continent as it is the largest LNG project financing globally.

Global Finance editors, with input from industry experts, used a series of criteria—including 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—to score and select winners, based on a proprietary algorithm. Deals announced or completed in 2021 were considered.

Ebrahim Motala, Rest of Africa Head for RMB said: “we are honoured to be recognized by the Global Finance Awards as Best Investment Banks in Ghana and Mozambique. This speaks to our growth ambitions in key markets and unwavering commitment to Africa’s growth.”

“The pandemic has brought about many challenges to our clients, but we are proud that we continue to partner them to successfully navigate the effects of this pandemic and assist in their expansion in their respective markets,” concluded Motala.

“Investment banks are playing a leading role in reshaping the world economy as the pandemic progresses,” said Joseph D. Giarraputo, publisher and editorial director of Global Finance.

“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.”

Global Finance regularly selects the top performers among banks and other providers of financial services. These awards have become a trusted standard of excellence for the global financial community.

In the same awards, RMB was also recognised globally as Best Bank for Client Facing Technology.