Awards for Excellence 2019
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Navigating Africa’s disparate markets successfully requires a trusted adviser. One institution that stands out in this regard is Chapel Hill Denham, Africa’s best bank for advisory for the second year in a row.
A good example of the firm’s strength was the support it provided for telecommunications company MTN Nigeria, which has had plans to list on the Nigerian Stock Exchange (NSE) for the last few years.
Given market conditions in Nigeria, Chapel Hill Denham, led by chief executive Bolaji Balogun, advised MTN to pursue a listing by introduction before its IPO. The firm was joint lead financial adviser for the introduction.
Shortly before MTN Nigeria listed in May, the company mandated Chapel Hill Denham as sole arranger for its debut N100 billion ($277 million) commercial paper programme.
The firm was appointed lead financial adviser for the Nigerian portion for the affordable housing and infrastructure company Mixta Africa’s upcoming dual listing on the NSE and the LSE.
The capital raise will allow Mixta to develop new and existing projects and expand its market share of the affordable housing market in Nigeria.
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Bolaji Balogun |
Nigeria needs around 16 million more affordable houses to meet demand, and Chapel Hill Denham has found a way to help the developing pension fund industry get involved.
The bank’s investment management subsidiary recently launched the Nigeria Real Estate Investment Trust (NReit) and Chapel Hill is the lead manager on its initial capital raising and the registration of the Nigeria Real Estate Investment Trust issuance programme.
NReit will be diversified in retail, office and student accommodation.
Another high-profile deal in the awards period was the merger of Diamond Bank into Access Bank – the country’s largest in terms of assets. Chapel Hill Denham was appointed to advise Access Bank on its bid for Diamond Bank, closing this transformational deal in December 2018.
