Investment bankers celebrate resilience, successes
By Olawunmi Ashafa
The year 2023 was of both challenges and successes for Nigeria’s investment banking sector.
In spite of a volatile economic landscape, investment bankers displayed remarkable resilience, successfully executing landmark deals that have shaped the nation’s economic trajectory.
The 2023 Investment Banking Awards Dinner, hosted by the Association of Issuing Houses of Nigeria (AIHN) recognises the sector’s outstanding achievements.
AIHN President, Mrs Kemi Awodein, acknowledges the critical role played by investment bankers in facilitating transformative deals.
Two of these deals include Heineken’s acquisition of Nigerian Breweries and Sahara Group’s purchase of Egbin Power.
“These transactions highlight the unwavering commitment of our members to drive growth and innovation, even in the face of adversity,” Awodein said.
The year wasn’t without its hurdles. Economic uncertainties, regulatory challenges and geopolitical tensions posed significant obstacles to deal-making.
Investment bankers had to adapt to a rapidly changing environment, leveraging their expertise and creativity to navigate complex transactions.
However, with these challenges, the sector witnessed a surge in capital raising activities, with companies across various industries tapping into both domestic and international markets.
Seplat Energy’s 650 million dollar bond issuance and Airtel Africa’s 500 million dollar capital raise are prime examples of the sector’s success in securing vital funding.
“The prominent transactions are Seplat Energy’s $650m bond issuance, aimed at expanding its energy operations, and Airtel Africa’s $500m capital raise, which was used to enhance telecommunications infrastructure.
“These initiatives were made more feasible by the improved economic environment following the reforms,” the AIHN president says.
According to her, improvements in transaction processing and time-to-market cannot be overemphasised and represent positive developments in the market.
Celebrating success, the awards ceremony honoured the industry’s top performers, with Chapel Hill Denham and Stanbic IBTC emerging as key players.
Chapel Hill Denham’s Chief Executive Officer, Mr Bolaji Balogun, attributes the firm’s success to its focus on client needs and its ability to execute complex deals.
“We are proud to have played a significant role in shaping Nigeria’s economic landscape.
“Our commitment to excellence and innovation has enabled us to deliver exceptional results for our clients,” Balogun says.
Investment bankers were also urged to increase public awareness of investment risks, particularly ponzi schemes.
Mr Bola Ajomale, Executive Commissioner of Operations, Securities and Exchange Commission (SEC), emphasises the importance of providing accurate information about opportunities and threats in the market.
This, he argues, will bolster investor confidence and contribute to sustainable growth.
Meanwhile, Mr Akeem Oyewale, CEO of Marble Capital, highlights the crucial role of capital raising in empowering private enterprises.
“Recognising the individuals who diligently aggregate capital and ensure regulatory compliance is commendable.
“The investment community has consistently demonstrated its readiness to support the government’s economic objectives,” he adds.
Stanbic IBTC’s Head of Real Estate Finance, Mr Tola Akinhanmi, emphasises the importance of building strong relationships with clients and understanding their evolving needs.
“In a challenging market, it’s essential to be agile and responsive,” he says.
The 2023 Investment Banking Awards Dinner served as a platform to celebrate the sector’s achievements and recognise the tireless efforts of its professionals. (NAN)
Edited by Olawunmi Ashafa
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