The awards included Africa’s Best Bank for Cash Management and Africa’s Best Provider of Short-Term Investments/Money Market Funds.

In addition, Ecobank Cameroon, Ecobank Côte d’Ivoire and Ecobank Kenya were all named Best Treasury and Cash Management Banks 2022 in their respective countries.

Commenting on the awards, the Chief Executive Officer of Ecobank Group, Ade Ayeyemi, said: “Global Finance’s recognition of the quality of our cash management and treasury products and solutions is a huge endorsement of our progress in driving borderless growth and financial integration across the continent.”

The Group Head Payments Service, Cash Management and Client Access, Ecobank Group, Isaac Kamuta said “We have successfully developed a scalable digital payments ecosystem across 33 sub-Saharan African countries. This will position our clients to effectively leverage the huge trading opportunities for businesses under the African Continental Free Trade Area agreement.”

The criteria of the awards were based on a multi-tiered assessment process – which included entries from banks and providers and input from industry analysts, corporate executives, technology experts and independent researchers.

The judges also used a variety of criteria, including profitability, market share, customer service, product innovation and the extent to which providers have successfully differentiated themselves from their competitors.

The awards ceremony is scheduled to take place during the annual Sibos conference in Amsterdam, Netherlands in October 2022.