• Monday, December 02, 2024
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Investment banking sector drives major transactions in 2024 – AIHN president

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The investment banking sector in Nigeria played a pivotal role in handling landmark transactions in 2024, underscoring its resilience and contributions to the nation’s economy, according to Kemi Awodein, president of the Association of Issuing Houses of Nigeria (AIHN).

Speaking during the investment banking awards dinner held in Lagos on Thursday, Awodein highlighted the remarkable achievements of investment bankers over the past year. She noted that the annual awards aim to celebrate excellence in the sector and motivate practitioners to continue driving impactful economic initiatives.

“The achievements this year reflect the strength and resilience of the investment banking market and the economy. Significant transactions, such as Heineken’s $24 billion acquisition of a controlling stake in Nigerian Breweries and Sahara Group’s $1 billion purchase of Egbin Power, have demonstrated the critical role of investment bankers in facilitating economic growth,” Awodein said.

She also referenced other notable deals, including Seplat Energy’s $650 million bond issuance, aimed at expanding its energy operations and Airtel Africa’s $500 million capital raise to enhance telecommunications infrastructure. These transactions, she added, were bolstered by Nigeria’s improving economic environment following recent reforms.

“This event is not only a celebration of the sector’s accomplishments but also of the individuals and clients whose trust and collaboration have driven these successes. It is a moment to recognise the hard work and innovation behind these large-ticket transactions,” she said.

The 2024 investment banking awards saw Stanbic IBTC Capital Limited and Chapel Hill Denham Advisory Limited dominating the honours. Stanbic IBTC Capital bagged several awards, including Best Public Sector Debt Issuance House 2023, Best Commercial Paper House 2023, Best Corporate Bond House 2023, Best Debt Capital Markets (DCM) House 2023, Best Equity Deal of 2023, and Best Investment Bank 2023.

Chapel Hill Denham received accolades as the Best Equity House 2023, Best Mergers and Acquisitions (M&A) Deal of 2023, and Best M&A House 2023.

Bolaji Balogun, CEO of Chapel Hill Denham, reflected on the competitive year, noting that while 2023 was relatively lighter compared to the volume of activities in 2024, the industry still had much to celebrate. “We are proud of the achievements and honored to be recognised. Winning motivates us to work even harder for an even stronger year ahead,” he said.

Balogun emphasised the firm’s commitment to client-focused solutions. “For us, it’s all about the clients —helping them address challenges with consistent and high-quality service,” he added.

Tola Akinhanmi, head of real estate finance at Stanbic IBTC Capital, attributed the company’s success to its team’s dedication and resilience despite challenging economic conditions. “Our focus on finding creative solutions for clients has been critical, and this recognition inspires us to achieve even more,” he said.

Akeem Oyewale, CEO of Marble Capital, praised the investment banking community for its collaborative efforts. “Raising capital has been instrumental in driving private enterprise growth. Recognising the people behind these successes is essential,” he said, adding that the sector is well-positioned to align with the government’s vision of a $1 trillion economy by 2025.

Steven Amangbo, United Bank for Africa’s Group Treasurer, lauded the awards as a celebration of the hard work of issuing houses, encouraging others to strive for excellence.

Bola Ajomale, executive commissioner of operations at the Securities and Exchange Commission (SEC), emphasised the importance of protecting investors through education. He urged investment bankers to raise awareness about the risks associated with Ponzi schemes while providing clear information about opportunities and threats in the market.

“The sector’s growth depends on transparency and investor trust. Ensuring informed decision-making will drive sustainable development,” Ajomale said.

Awodein expressed optimism for 2025, noting that the year promises even more impactful transactions as the investment banking community continues to support Nigeria’s economic goals. “This year was a testament to the sector’s resilience, and we expect the coming year to bring even more significant achievements,” she said.

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