AIHN President: Investment Banking Sector Attracted Big Transactions in 2024

Arthur Ariye

The investment banking sector of the economy handled major transactions that defined the outgoing year and requires recognition, the President, Association of Issuing Houses of Nigeria (AIHN), ‘Kemi Awodein, has said.

She spoke recenty during the Investment Banking Awards Dinner held in Lagos.

According to her, the award is meant to celebrate the achievements of investment bankers in Nigeria and motivate them to do more in the coming year.

Awodein explained that the several successful transactions facilitated within the year, including Heineken’s $24billion acquisition of a controlling stake in Nigerian Breweries and Sahara Group’s $1billion purchase of Egbin Power, showed the strength and resilience of the investment banking market and the economy.

“The prominent transactions include Seplat Energy’s $650m bond issuance, aimed at expanding its energy operations, and Airtel Africa’s $500m capital raise, which was used to enhance telecommunications infrastructure. These initiatives were made more feasible by the improved economic environment following the reforms,” the AIHN president said.

The Chief Executive Officer, Chapel Hill Denham, Bolaji Balogun, said 2023 wasn’t a bad year in the investment banking markets, but relative to the activity that has happened this year, it was a relatively lighter year.

The Head, Real Estate Finance, Stanbic IBTC Capital, Tola Akinhanmi, said the winnings were as a result of hard work by the team.

“It has been a difficult environment, but the ethos of the bank is focused on our clients. The team always finds solutions, despite the difficult environment, and creating solutions for client needs.  So, I think being able to have this testament and recognition of that work is very fine, and will only push us to actually do more,” he said.