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Nigeria’s reforms have been recognised through an award to Yemi Cardoso, governor of the Central Bank of Nigeria (CBN) by the African Banker Awards 2025.
African Banker, is a leading publication dedicated to reporting on the banking industry across the continent. With insightful coverage on finance, politics,
“Olayemi Cardoso from Nigeria was named Central Bank Governor of the Year. The Central Bank has had to make tough decisions but these, the organisers noted, have assuaged markets, renewing investor confidence,” a statement from the African Banker said.
Development Finance Institutions (DFIs) emerged as the big winners at Africa’s most prestigious annual banking event. Five DFIs took home plaques at the African Banker Awards Gala Ceremony 2025 held last night at the Sofitel Hotel in Abidjan, Côte d’Ivoire, on the sidelines of the African Development Bank Annual Meetings. The ceremony was attended by 500 of the continent’s leading lights in banking and finance.
The African Banker Awards 2025, now in its 19th year, celebrate the achievements of individuals and institutions that contributed significantly to the growth and development of Africa’s banking sector in the preceding year. This year’s awards ceremony, in particular, saw DFIs dominate, underlining their increasing recognition, importance and impact in the African financial and banking ecosystem as they crank up the levers of development and growth.
Morocco has been a standout performer in Africa, especially when it comes to economic diversification. Nadia Fettah was recognised as Finance Minister of the Year for her sound macroeconomic management.
Vincent Nmehielle, Secretary General of the African Development Bank, paid tribute to IC Publications and New African magazine in particular for representing the voice of Africa internationally when back in 2007 it was the only magazine presenting an African perspective to international affairs.
Speaking at the ceremony, Omar Ben Yedder, chair of the Awards Committee, identified the private sector and banks as critical to transforming the continent. “Thomas Sankara said the ones that feed you, rule you. To paraphrase him, we could easily say the ones that finance you, rule you. We need strong African-owned banks. The private sector is the key to unlocking scale, and banks are the fuel for driving Africa forward. African DFIs have won big because of the catalytic role they are playing in transforming the investment landscape as well as working more closely with the African private sector to support SMEs and other asset classes that are underfunded.”
This year’s awards had a special guest, Ivorian sprinter and silver medallist Murielle Ahouré-Demps, a multiple medal winner at world events. Presenting the African Banker of the Year award, she shared how she “learned that champions are not made on the podium. They are forged in the quiet, unseen moments in the discipline it takes when no one is watching. And as African women, we carry within us a powerful legacy: one of strength, of wisdom, and of vision. I am deeply proud of that.” The award was won by Patricia Ojangole, managing director of Ugandan Development Bank, the second time in three years, a woman banker from East Africa has won the coveted award.
Ecobank won this year’s AFAWA Awards, which recognise gender lens lending and banks supporting women-led businesses. Beth Dunford of the African Development Bank leads on the initiative.
The Awards are supported by the African Development Bank and several high-level sponsors such as the African Guarantee Fund. A cocktail reception took place before the Gala sponsored by African Trade and Investment Development Insurance (ATIDI). Afreximbank, the ECOWAS Bank for Investment and Development (EBID), Atlantic Finance Group, Nigeria’s Bank of Industry, The African Guarantee and Economic Cooperation Fund (FAGACE), 4G Capital, IFG Executive Education and African Hidden Champions were also sponsors and supporters of the Awards.
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