Meet the 16 African Banks foreign exchange award winners in 2025

Foreign exchange is the lifeblood of global trade and commerce, and African banks are stepping into the spotlight as trailblazers in this dynamic field. In 2025, 16 exceptional banks across the continent earned prestigious recognition for their innovative FX solutions, technological advancements, and commitment to empowering businesses and individuals in an interconnected world.

These institutions are not just driving economic growth; they are redefining banking excellence with cutting-edge platforms, customer-centric strategies, and sustainable practices. From Algeria to Zambia, each of these winners brings unique expertise to the table, showcasing the diverse strengths and opportunities within Africa’s financial landscape.

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According to Global Finance, Meet the 16 African Banks foreign exchange award winners in 2025

1. Société Générale – Algeria

Société Générale Algérie emerged as a standout winner in the world 2025 FX Bank Awards, recognised for its innovative and customer-focused FX solutions. The bank excels in transaction volume and market share and leverages cutting-edge technologies to meet client needs. Its strong emphasis on competitive pricing and seamless service delivery has solidified its reputation as a trusted FX provider in Algeria. Société Générale’s commitment to corporate clients is evidenced by its fifth consecutive “Best FX Provider for Corporates” award and its excellence in execution algorithms. These accolades affirm the bank’s forward-thinking approach and dominance in the FX sector.

The bank is also setting benchmarks with its ambitious project to establish a state-of-the-art head office in Bab Ezzouar, Algiers, designed to meet international standards in CSR, employee well-being, and sustainability. The 12-story building will feature collaborative spaces, flex-office workstations, and eco-responsible certifications, marking a new chapter in Societe Generale’s evolution in Algeria.

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2. Standard Bank – Angola

Standard Bank Angola has cemented its position as a top financial institution, winning the prestigious 2025 FX Bank Award for its exceptional foreign exchange services. Angola, one of Africa’s largest oil producers, faces economic challenges, including currency volatility and high inflation. Amid these complexities, Standard Bank Angola has stood out by offering tailored FX solutions that address the unique needs of its clients in oil, agriculture, and other emerging sectors.

The bank plays a crucial role in Angola’s economy, enabling smooth cross-border transactions and providing innovative tools like customised hedging strategies to mitigate currency risks. The Standard Bank Angola Africa trade barometer Angola’s macroeconomic environment shows a mixed outlook, with GDP growth projected to increase to 2.3% in 2024, up from 1.7% in 2023, largely driven by expansions in the agriculture and fisheries sectors as part of efforts to diversify beyond oil. Angola’s real GDP growth has been volatile in recent years. After registering a growth rate of 4.2% in 2022, real GDP decelerated in 2023 to 1.7% due to an unexpected extension of maintenance production pause at one of the oil streams in the country and an estimated 20% reduction in Angolan oil prices. Real GDP is forecasted to reach a modest 2.3% in 2024 and 2.6% in 2025. This expansion is primarily driven by agriculture and fisheries. Standard Bank Angola’s expertise is pivotal in supporting this growth trajectory, fueled by structural reforms and economic diversification.

As Angola invests in non-oil sectors, including agriculture and telecommunications, the bank’s technological advancements and deep market knowledge empower businesses to thrive in a rapidly evolving landscape. Standard Bank Angola continues to be a cornerstone of the nation’s progress by fostering financial stability and supporting both corporate and individual clients.

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3. Banque Internationale pour le Commerce et l’Industrie de la (BICICI) – Côte d’Ivoire

BICICI, a subsidiary of Groupe BNP Paribas, was honoured as a winner in the 2025 FX Bank Awards for its excellence in foreign exchange services. With 31 branches across Côte d’Ivoire, including key locations like Abidjan and San Pedro, BICICI provides cutting-edge banking solutions tailored to individuals and businesses. Leveraging the stability of the West African CFA franc, pegged to the euro, BICICI ensures seamless international trade and investment for its clients. Its expertise in cash management and structured finance supports Côte d’Ivoire’s export-heavy economy, particularly in the cocoa and coffee sectors. BICICI’s innovative electronic and mobile banking platforms foster financial inclusion and convenience. This recognition highlights the bank’s pivotal role in empowering businesses to thrive in global markets. As Côte d’Ivoire’s economy grows, BICICI remains a cornerstone of financial excellence and innovation.

4. Rawbank – DR Congo

Rawbank, the leading financial institution in the Democratic Republic of Congo, secured a spot among the 2025 FX Bank Award winners, affirming its dominance in foreign exchange services. Rawbank has in 23 years made over $5 billion in assets and a customer base exceeding 500,000, Rawbank plays a pivotal role in the Central African banking sector. Its innovative platforms like Illicocash and a robust network of 100+ branches across 19 provinces underscore its financial inclusion and digital transformation commitment. Recognised for its tailored financial solutions, Rawbank enables businesses and individuals to navigate global markets seamlessly. This award cements Rawbank’s reputation as a driver of economic growth in the DRC and Africa, reflecting its strategic vision and unwavering dedication to excellence.

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5. Commercial International Bank (CIB) – Egypt

Commercial International Bank (CIB), Egypt’s largest private-sector bank, stands among the 2025 FX Bank Award winners, cementing its reputation as a financial powerhouse in Africa. Renowned for its excellence in trade finance, cash management, and payment services, CIB has garnered accolades such as “Best Bank in Egypt” and “Best Supply Chain Finance Bank in Africa” by Global Finance.

In 2023, CIB’s strategic achievements included closing a significant EGP 1.79 billion securitisation deal for Tamweel Mortgage Finance, showcasing its leadership in innovative financing solutions. Its robust portfolio serves a diverse clientele, including SMEs, and supports Egypt’s economic growth with a strong focus on ESG initiatives.

As a trusted partner in foreign exchange, CIB continues to enable seamless international trade and financial operations, bolstering Egypt’s position in the global financial arena. This recognition underscores its role as a trailblazer in delivering cutting-edge banking solutions across Africa.

6. Ecobank – Ghana

Ecobank Ghana, a key subsidiary of the Ecobank Group, has solidified its position as a leader in foreign exchange and digital banking, earning multiple accolades in the 2025 FX Bank Awards. Recognised for its unmatched commitment to innovation, Ecobank Ghana was named “Best Bank for SMEs” and “Best Digital Bank” in Ghana at the Euromoney Awards for Excellence 2024, alongside the “Sustainable Finance Award” at the Global Finance Awards.

Leveraging its pan-African expertise, Ecobank Ghana offers advanced treasury and cash management solutions, enabling seamless cross-border transactions. Its unified payment gateway has redefined financial accessibility for businesses and individuals, contributing significantly to the region’s economic integration.

With its cutting-edge digital platforms and a customer-focused growth strategy, Ecobank Ghana continues to set benchmarks in delivering world-class financial services, affirming its role as a preferred banking partner across Africa.

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7. Kenya Commercial Bank (KCB) – Kenya

Kenya Commercial Bank (KCB), a leader in Kenya’s financial sector, continues to shine on the international stage as a top performer in foreign exchange and banking excellence. In 2025, KCB earned recognition at the FX Bank Awards for its innovative treasury solutions, robust forex offerings, and commitment to customer-centric services that cater to diverse financial needs.

KCB’s cutting-edge digital platforms and expansive regional network have established it as a pivotal player in cross-border trade facilitation and forex transactions within East Africa. On the balance sheet side, total assets stood at 2.0 trillion, on the back of stable customer deposits growth which closed the period at KShs. 1.5 trillion. Net Loans & Advances ticked up quarter on quarter to KShs.1.1 trillion benefiting from growth in retail sector lending that outpaced the impact of the appreciation of the shilling on the foreign currency denominated loans. Income was up 22%, with a strong show on both funded and non-funded income Net Interest income grew by 24% supported by improved yields and increased lending to key segments, significantly offset by an interest expense driven by the high cost of funds. Its treasury operations have enabled businesses to navigate volatile markets effectively, strengthening economic growth and financial stability across the region.

The bank’s accolades, including “Best Audit Team in Banking” and recognition for its audit leadership in 2024, highlight its dedication to excellence in governance and innovation. KCB remains a cornerstone of financial transformation in Africa, leveraging its expertise to drive sustainable growth and expand access to world-class banking solutions.

8. AfrAsia Bank – Mauritius

AfrAsia Bank, a financial powerhouse in Mauritius, earned dual accolades in 2024: Best Bank and Best FX Bank from Global Finance. These honours reflect its expertise in foreign exchange services, offering innovative FX tools to help clients navigate market volatility. The bank’s impressive financial performance, with a profit of MUR 7.0bn for the year ended 30 June 2024., was driven by rising net interest and trading income. AfrAsia’s treasury team, celebrated for its strategic insights, continues to deliver unmatched value. CEO Thierry Vallet credits the bank’s success to a customer-centric approach and adaptive strategies. with total assets rising to MUR 261.7bn as of 30 June 2024, reflecting a 13% increase from MUR 231.6bn, AfrAsia solidifies its reputation as a leading financial institution in Mauritius and Africa.

9. Attijariwafa Bank – Morocco

As one of Africa’s largest financial institutions, Attijariwafa Bank is a beacon of growth and innovation in the banking sector. With a presence in 26 countries and over 12 million customers, the bank’s commitment to excellence is evident in its robust financial performance.

Renowned for its advanced foreign exchange services, Attijariwafa Bank is pivotal in fostering economic ties across Africa, Europe, and Asia. International operations contribute significantly. Its strategic focus on innovation, cost-efficiency, and customer-centric solutions ensures its leadership in the financial landscape.

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10. Millennium BIM – Mozambique

For the 13th time in 14 years, Millennium BIM has been recognised as the Best Bank in Mozambique by Global Finance Magazine, cementing its reputation as a cornerstone of Mozambique’s economic growth. Renowned for its exceptional foreign exchange services, the bank plays a pivotal role in facilitating cross-border trade and financial stability in the region.

Millennium BIM’s customer-centric approach, innovative solutions, and resilience in challenging economic conditions have made it in Mozambique’s banking sector. With a vast network across all provinces, Millennium BIM ensures financial inclusion and accessibility, supported by cutting-edge technology and one of the largest ATM and POS networks in the country.

As Mozambique’s largest financial group and a frequent winner of prestigious accolades, Millennium BIM exemplifies excellence in banking, contributing to sustainable growth and setting benchmarks for service, innovation, and reliability across Africa.

11. Bank Windhoek – Namibia

Bank Windhoek has achieved dual recognition as the Best Foreign Exchange (FX) Bank in Namibia and the Best SME Bank for 2025 by the prestigious Global Finance Magazine, underscoring its pivotal role in driving Namibia’s economic development and financial excellence.

The awards celebrate Bank Windhoek’s dedication to providing top-tier foreign exchange services, showcasing expertise in transaction volume, competitive pricing, customer service, and innovative technology. Additionally, its unwavering support for Small and Medium Enterprises (SMEs) highlights its commitment to fostering local business growth.

Claire Hobbs, Chief Treasurer, and Leon Koch, Executive Officer of Business Banking, credit this success to the collective efforts of the Bank’s Treasury, Business Banking teams, staff, and loyal customers. “This award belongs to all our customers who place their trust in us,” said Hobbs.

As a trusted financial partner, Bank Windhoek continues to excel amid global economic challenges, delivering innovation and value in Namibia’s dynamic financial landscape. With these accolades, the bank solidifies its leadership in the African banking sector, setting new benchmarks for service and reliability.

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12. Zenith Bank – Nigeria

Zenith Bank has firmly established itself as a leader in foreign exchange, securing its place among the 16 African Banks to win the prestigious 2025 Foreign Exchange Award. With a strong commitment to excellence, the bank’s stellar performance in 2024 was recognised globally, earning titles like Best Bank in Nigeria from Global Finance Magazine and Bank of the Year from Daily Independent. Zenith’s excellence is driven by innovative digital solutions and a deep focus on sustainable growth. Their consistent top-tier rankings in capital, governance, and commercial banking highlight their expertise in managing foreign exchange and maintaining global competitiveness. The bank’s success serves as a model for other African banks, emphasising the importance of adaptability and innovation in today’s dynamic financial landscape.

13. FirstRand – South Africa

FirstRand, through its subsidiaries FNB and RMB, has solidified its position as a leader in foreign exchange, earning the prestigious title of Best Foreign Exchange Provider in South Africa for the fourth consecutive year in the 2025 Global Finance World’s Best FX Provider awards. This recognition highlights FirstRand’s exceptional service in foreign exchange, distinguished by its innovation, market share, competitive pricing, and customer support. Operating within a dynamic global environment, FNB and RMB offer tailored solutions for clients ranging from individuals to large corporations. With the ongoing volatility of the South African Rand (ZAR), they help clients mitigate currency risk and optimise cross-border payments. This award reflects their commitment to delivering world-class foreign exchange services that empower clients to manage financial challenges in an increasingly interconnected global market. The recognition is a testament to FirstRand’s ongoing effort to provide top-tier services and maintain strong relationships with its clients, ensuring their foreign exchange needs are met with simplicity and efficiency.

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14. Banque Internationale Arabe de Tunisie – Tunisia

Banque Internationale Arabe de Tunisie (BIAT) excels in Tunisia’s FX market by offering innovative solutions that cater to the country’s evolving economic landscape. The bank’s robust digital infrastructure ensures seamless FX trading, enhancing accessibility for clients. BIAT’s focus on customer service and strategic market insights has established it as a leader in Tunisia’s financial sector.

15. Stanbic Bank – Uganda

Stanbic Bank Uganda stands out in the 2025 FX Bank Awards for its leadership in foreign exchange services, offering highly tailored FX solutions to meet the needs of a diverse clientele. As the country’s economic landscape evolves, Stanbic leverages its global expertise and local insights to provide seamless currency exchange, hedging, and risk management services. By integrating innovative technology, the bank makes foreign exchange transactions more accessible and efficient for both businesses and individuals. Its strong presence in Uganda is complemented by its commitment to supporting the country’s growing international trade and investment activities. With a focus on sustainability and customer-centric services, Stanbic Bank Uganda is reinforcing its position as a key player in the East African financial sector.

16. Stanbic Bank – Zambia

Stanbic Bank Zambia has earned a spot among the 2025 Foreign Exchange Award winners, thanks to its exceptional services in the foreign exchange market. The bank stands out for its advanced digital platforms that enable clients to conduct FX transactions with ease, mitigating risks associated with currency fluctuations. Stanbic’s ability to customise its foreign exchange solutions ensures clients, from individuals to large corporations, can navigate Zambia’s dynamic market with confidence. Its expertise in hedging strategies and currency management positions Stanbic as a leading provider of FX services in Zambia. By leveraging technology and maintaining a customer-first approach, the bank has solidified its reputation for delivering top-notch foreign exchange solutions. Stanbic Bank Zambia continues to foster financial inclusion and support the country’s economic progress, empowering clients to succeed in a globalised world.