6 July 2012
Standard Bank Group leads in Africa with host of accolades at Euromoney Awards
Standard Bank Group was prominent among the winners of the 2012 Euromoney Awards
for Excellence, receiving accolades for its work in mergers and acquisitions (M&A),
risk advisory, project finance and debt capital markets.
Standard Bank Group was named Best Risk Advisor in Africa, Best M&A House in South
Africa, Best Project Finance House in Africa and Best Debt Capital Markets House
The awards were announced on 5 July 2012.
Chris Newson, Chief Executive of Standard Bank Group's operations in Africa, says
receiving these awards is particularly significant in the context of the challenging
environment for banks in recent times.
"Banks have had to generally adapt to increased volatility, tough liquidity markets
in certain geographies, fewer deal opportunities and a range of changing regulations.
In spite of this environment it is pleasing that in our region we have come through
the challenges in a particularly strong position," says Mr Newson.
"To be independently judged as successful in these award categories is indeed gratifying
as it provides further evidence of the traction Standard Bank has for its strategy
in Africa. Placing the continent at our core and building our operations across
Africa is an approach that we are confident will continue to deliver results," he
For the M&A award, Standard Bank Group was recognised for its advisory work on the
R9-billion acquisition of Metorex by China's Jinchuan. The Jinchuan/Metorex deal
was the largest Chinese inbound investment into Africa in 2011.
Mr Newson says complexity was a hallmark of the Jinchuan/Metorex transaction as
it involved a counterbid to Brazil's Vale. In addition, the deal advisors had to
negotiate a number of regulatory hurdles in China, Zambia, Democratic Republic of
the Congo and South Africa.
The award for Best Debt Capital Markets House came from Standard Bank Group's key
transactions of sovereign Eurobonds for the governments of Senegal for US$500-million
and Namibia, also for US$500-million.
More than a dozen Standard Bank projects featured in the accolade for Best Project
Finance House. These included financing of $80-million for African Rainbow Minerals'
Konkola North copper project in Zambia; more than US$180-million for the Boseto
Copper Project in Botswana; US$50-million for the GOVE Hydropower project in Angola;
and ZAR350-million for the ROMPCO oil pipeline expansion in Mozambique.
The award for Best Risk Advisor in Africa recognised Standard Bank Group for a transaction
last September. In a period of 48 hours, Standard Bank Group assisted a large corporate
with a debt restructure solution which included a large amount of market, credit
and legal risk. Standard Bank Group's effective re-structure, together with its
ability to assume and disseminate large amounts of market risk, facilitated an optimal
solution for the client.
Says Mr Newson: "In receiving these awards we recognise that they are truly a function
of the support and commitment of our clients and staff for which we are grateful.
It is particularly satisfying that our focus on providing on-the-ground expertise
across Africa has been recognised.
"That commitment is stronger than ever and Standard Bank continues to make significant
investments in expanding and deepening our in-country capabilities in the 18 African
countries where we are present."
In recognising Standard Bank Group for the awards, Euromoney Editor Clive Horwood
said it "stands out for its geographical spread and wide range of products and services
across Africa. In debt capital markets in particular it has a big share in South
Africa and Nigeria but also activity in smaller markets - as well as its ability
to print deals in local currencies and dollars. Standout deals include sovereign
Eurobonds for the governments of Senegal and Namibia. The latter was a debut issuer
in the Eurobond market and was one of Euromoney's Deals of the Year".
Euromoney is a leading journal of the global financial services sector. The 2012
Euromoney Awards for Excellence attracted over 600 submissions from the world's
banks and brokerage houses. Euromoney's research team and awards panel rated submissions
on quantitative and qualitative factors such as key performance indicators, financial
ratios and innovation.