Africa’s best bank for financing 2022: Citi
Citi’s strength across the capital markets, allied to an ability to put its balance sheet to good use with key clients, always put it in contention for the award for Africa’s best bank for financing.
The US lender ranked number one in Africa ex-Egypt debt capital markets in the year to the end of March 2022, according to Dealogic, completing 22 deals worth a total of $6.85 billion for an 18.1% share of the market – leaving its rivals in its wake. Its deal book over that period is seriously comprehensive and includes transactions big and small, innovative and run-of-the-mill.
A good place to start is the Republic of Benin’s $500 million sustainable development goals (SDG)-linked bond in July 2021. A landmark transaction in the emerging markets, it was the first hard-currency SDG offering ever completed in Europe, the Middle East and Africa. It also marked the first environmental, social and governance-themed international sovereign issue to emerge from sub-Saharan Africa.