Emirates NBD Capital (EmCap) was one of the most active DCM banks in the MENA region during Euromoney’s awards period.

QNB Financial Services (QNBFS) impressed on multiple fronts over the past year, making it Euromoney’s best securities house for Qatar in 2024.

SBM Capital Markets (SBM) takes the top award for Mauritius for its strong growth and its ability to innovate, which cemented its position in an increasingly competitive brokerage landscape in the country.

During Euromoney’s review period, National Investments Company (NIC) stood out for its work in M&A and equity capital markets, winning Kuwait’s best securities house award.

Al Ahly Pharos is a leading provider of investment research in the Egyptian financial landscape, thanks to its extensive market coverage, in-depth sector analysis, prolific research output, rapid analytical capabilities and active investor engagement.

Ecobank Gabon delivered strong growth over the awards period while also expanding its product suite.

Ecobank Guinea rolled out its Xpress Loan service in Guinea last year, which enables customers to obtain short-term micro credit loans using their mobile phones. The service was launched in partnership with Dubai fintech Optasia and pan-African telecommunications giant MTN.

Standard Bank successfully implemented innovative digital products across all banking segments in 2023 while also making important philanthropic contributions in Malawi.

Access Bank Gambia impressed this year with its strong financial results, effective support for small and medium-sized enterprises and important philanthropic work.

Banco Angolano de Investimentos (BAI) posted impressive financial results for 2023. Profit before tax stood at AKz220 billion ($250 million), almost double its 2022 result (AKz115 billion), and the bank achieved a return on equity of 36%, up from 26% the year before.

Access Bank made profit before tax of N569 billion ($380 million) in 2023, a big improvement on the previous year's N163 billion. This was in part due to the devaluation of the naira in 2023, but was also driven by the bank’s aggressive expansion strategy, which has seen its footprint in Africa expand and the establishment of its first branch in France.

Zambia National Commercial Bank (Zanaco) is again Euromoney’s best bank in Zambia. Profit before tax increased 44% year on year to KK1.74 billion ($65 million), including a 109% boost in the third quarter driven by income earned on government securities, trading and an uptick in net fees and commission.

Societe Generale Côte d’Ivoire is again named the best bank in the country after a year in which profit before tax was up 32% at CFEFr120 billion ($42 million) from CFEFr91 billion in 2022. The bank has shown strong commitment to the Ivory Coast despite exiting other African markets such as the Republic of Congo, Equatorial Guinea, Mauritania and Chad. Indeed, Societe Generale deputy CEO of the group Pierre Palmieri visited Abidjan last year to reinforce this.

Mauritius Commercial Bank (MCB) had another good year in 2023 and is again the best bank in the country for the review period.

In a year (very) short on equity capital markets activity, it was in the debt and the loan market that Standard Bank shone brightest in 2023.

Bank of Kigali is again Euromoney’s best bank in Rwanda this year.

Millennium bim, Euromoney’s best bank in Mozambique this year, has focused its efforts on technological improvements during the period under review.

NMB Bank is Euromoney’s best bank in Tanzania for 2024. Total assets grew by 19%, from $3.95 billion at the end of 2022 to $4.7 billion at the end of 2023. Net profit was also up 26% at $208.6 million. Both increases are the product of loan growth of 28% and a rise in the number of customer accounts – the bank opened 1.2 million new accounts in 2023 alone.

The banking environment in Tunisia worsened last year due to the absence of a financing package to meet the government’s funding needs. This led to Moody's downgrading four banks in January 2023 because of the sovereign downgrade. The agency changed its outlook on the sector to stable in January 2024.

Equity Bank Kenya claims its mission is to empower clients and stakeholders, both socially and economically.

For a global lender, Citi’s investment-banking presence in Africa is hard to compete with. The US firm has an onshore presence in 16 countries and covers 38 markets, with a dedicated team in Johannesburg supported by corporate bankers across the region.

Citi stands head and shoulders above its rivals in this category. The products it generates are designed to help day-to-day business for all its clients, be they global corporates working in and across Africa, or African firms scaling up their regional and international presence.

Attijariwafa Bank remains the bank to beat in Morocco. In a year that saw profits grow 20% to Dh13.8 billion ($1.4 billion), it has focused its efforts on promoting private investment in the country.

Banco Angolano de Investimentos (BAI) posted impressive financial results for 2023. Profit before tax stood at AKz220 billion ($250 million), almost double its 2022 result (AKz115 billion), and the bank achieved a return on equity of 36%, up from 26% the year before.

Led by its head of wealth and investment Jacques Els, Standard Bank Wealth & Investment is a private-banking powerhouse in Africa.

Morocco-based Bank of Africa boasts a long and storied history as a leading lender to regional small and medium-sized enterprises. Last year, it secured a €50 million credit line from the European Bank for Reconstruction and Development to increase financing for SMEs across the continent.

First National Bank of Botswana delivered significant improvements in financial performance last year and made good progress in digital transformation, customer retention and social responsibility.

Getting M&A right in Africa is not easy – big-ticket transactions are rare, and deal flow tends to come in fits and starts – but Standard Bank has got it down to a fine art.

Awash Bank greatly expanded its digital solutions last year, achieving high levels of engagement across mobile and internet banking.

Nedbank wins the best digital bank in Africa award for the second year in a row, courtesy of its push to reform and re-engineer its IT system, with the aim of cutting costs, attracting new business and favouring an approach that focuses on evolution rather than revolution.