BIND Banco Industrial: Best SME Bank Argentina 2018

Though the lifeblood of the country’s economy and representing fully 99% of its businesses, Argentina’s small and medium-sized enterprises (SMEs) operate in an often hostile climate delineated by cumbersome bureaucratic impositions and a dearth of credit. Argentina’s big commercial banks show but scant interest in serving the half million or so business owners.

The art and science of helping SMEs survive, grow, and prosper is, however, not entirely lost. BIND Banco Industrial has built a highly successful business by focussing on the needs of smaller enterprises, seeking to empower rather than exploit SMEs and growing its own revenue alongside that of its customers. The bank is convinced that size is not everything and, by extension, entrepreneurial gems are to be found in Argentina’s vast SME universe. Moreover, small and medium-sized businesses have proven particularly resilient in the face of extreme market volatility, easily adapting to shifting realities.

With over $1.5bn in assets and recognised for its early adoption of digital banking and fintech, BIND Banco Industrial has turned into Argentina’s premier SME financial services provider. The bank can trace its corporate roots to 1928 when it was set up to help underwrite Argentina’s nascent agribusiness sector. From its beginnings BIND Banco Industrial has maintained the highest standards of service.

The CFI.co judging panel notes that BIND Banco Industrial has implemented a number of innovative policies and services that aim to lower the threshold for businessowners in search of a dependable financial partner. The judges are pleased to offer BIND Banco Industrial the 2018 Best SME Bank Argentina Award.


The Access Bank UK: Best Africa Trade Finance Bank 2018

Present in London, Lagos and Dubai’s International Financial Centre (DIFC), The Access Bank UK is a premier financial services provider. It is part of one of the largest banking groups of Nigeria, Access Bank Plc, which has geographical footprint spanning eight countries in West Africa, Sub-Saharan Africa and UK.

The Access Bank UK squarely aims for the top and has imbued its staff with a sense of pride in being part of Africa’s most respected financial institution. At The Access Bank UK, the pursuit of excellence in corporate governance and superior operational performance are linked by a finely tuned human resources framework that encourages innovation, skills development, and personal growth. This has been externally recognised by their accreditation by Investors In People Gold Standard. As a result, staff turnover rates are amongst the lowest in the industry.

The Bank maintains a number of partnerships with educational and professional institutes to allow apprentices to acquire skills and develop their aptitudes. This way, the Bank ensures its continued access to an exceptionally promising talent pool.

The Access Bank UK enjoys a well-earned reputation for structuring complex trade deals covering multiple jurisdictions. The Bank has its corporate roots in trade finance and offers exporters and importers in both the UK, Sub-Saharan Africa and the MENA region a full and competitive suite of services that unlocks the buoyant markets of Sub-Saharan Africa and enables the seamless processing of trade-related documentation.

The CFI.co judging panel has followed the corporate trajectory of The Access Bank UK for a few years and notes that the bank maintains its leading edge. The judges are pleased to offer The Access Bank UK the 2018 Best Africa Trade Finance Bank Award.


Arche Associates: Best Wealth Manager Luxembourg 2018

Taking the know-your-customer into new territory, Arche Associates subscribes to the philosophy that wealth management needs to be a fully transparent and friction-free conduit that allows clients to reach a future crafted to their personal needs and aspirations. Ideally, the wealth manager dissolves into the background as the unseen hand that gently shapes resilient portfolios.

Based in Luxembourg, Arche Associates maintains three separate companies that each serve a different customer demographic with the same relentless dedication to excellence and the cultivation of trust. Arche Wealth Management, Arche Family Office, and Arche Private Advisors benefit from synergies and shared expertise whilst maintaining a differentiated approach to the design of investment portfolios.

Known and celebrated for their attention to detail, finesse, and professionalism, the advisors at Arche Associates manage a number of thematic investments that seek to optimise exposure to especially promising sectors and industries. The firm is recognised for spotting trends early on and carefully building up positions long before the overall market wakes up. Arche Associates maintains a spotless track record for finding alpha within the customer’s carefully assessed risk parameters.

Arche Associates has registered strong growth on the back of its innovative client-focussed approach to wealth management, establishing long-term partnerships with customers in order to allow for the steady appreciation of the capital entrusted to the firm.

The CFI.co judging panel fully agrees that wealth management revolves around the twin core values of trust and transparency. Arche Associates has taken these timeless principles to the next level by adding a vital third ingredient – segmentation by investor demographic. No two investors are quite alike. By recognising this simple yet often ignored fact, Arche Associates has set itself apart from the herd. The judges are pleased to present Arche Associates with the 2018 Best Wealth Manager Luxembourg Award.


Banque de Développement de Guinée: Best Socio-Economic Impact Bank West Africa 2018

It remains one of West Africa’s hidden gems – but perhaps not for long. With an abundance of natural resources, Guinea is poised to become a regional economic power of note, leveraging its strategic location and the availability of huge tracts of fertile soil, plenty of water, and a benign climate to kickstart its agroindustry. The country also intends to revitalise its promising fishing sector and extractive industry.

Rich in bauxite, gold, diamonds, and many other minerals, Guinea now has a masterplan for its development which is being implemented with the help of multilateral financiers and their domestic counterpart, the Banque de Développement de Guinée (BDG). The privately-owned bank aims to provide funds for the accelerated development of the country by underwriting major infrastructure projects such as the expansion of the port of Conakry and the building of expressways linking the country’s major urban centres.

BDG also initiated a sustained push to increase Guinea’s power generating capacity and, in tandem, upgrade the national grid. In the mining sector, the pillar on which the local economy rests, the bank supports both artisan and large-scale mining operations. As the country’s principal investment bank, BDG has been assigned a major role in Guinea’s poverty reduction programmes. Its operations, based on well-established global best practices, has enabled the bank to sustain a large social impact and help create an emergent middle class that is set to become the driver of Guinea’s development.

The CFI.co judging panel notes that BDG is a key player in all sectors crucial to securing a prosperous future for Guinea: agriculture, infrastructure, mining, and energy. The judges declare Banque de Développement de Guinée winner of the 2018 Best Socio-Economic Impact Bank West Africa Award.


Vallstein: Best Bank Relationship Management Solutions Global 2018

Founded almost twenty years ago on the premise that the rapport between clients and their banks usually offers plenty room for improvement, Vallstein of The Netherlands has developed WalletSizing – a comprehensive bank relationship management (BRM) system that increases transparency by monitoring and reporting costs to determine, amongst other parameters, the return on solvency.

In essence, WalletSizing turns the tables by allowing customers a comprehensive and detailed view of their banking relationships, including – crucially – the importance of their business to financial services providers and the revenue derived from that. Thus, WalletSizing enables users to precisely ascertain the cost-benefit ratio of their banking operations.

Deploying the knowledge-is-power adage, WalletSizing users are able to effectively gauge their bank’s overall performance and – if needed – negotiate a better overall deal. However, the software aims to optimise the client-bank relationship rather than squeeze the last penny out of it. WalletSizing allows customers to pinpoint the ideal equilibrium between costs and benefits, and construct a relationship that produces a win-win scenario for both parties.

Uniquely, WalletSizing considers hidden revenues and capital requirements under the evolving rules of the Basel Accords. It also includes a complete set of benchmarks. WalletSizing redefines, and vastly expands, the traditional assessment of banking costs and fees, and propels treasury management into next-gen territory.

The CFI.co judging panel commends Vallstein on producing and fine-tuning a product that moves way beyond spreadsheets to create actual value for clients and banks alike. It puts an often-misinformed relationship on a solid equal footing. The judges are happy to note that since last year Vallstein has continued to update and expand its products which are now indispensable in any corporate setting that values efficiency. The judging panel declares Vallstein winner of the 2018 Best Bank Relationship Management Solutions Global Award.


IIFL Holdings: Best IPO Lead Manager India 2018

India’s largest independent financial services provider, IIFL Holdings is also the preferred partner of businesses and investors seeking to maximise their exposure to the country’s buoyant economy. Set up in 1995, IIFL has established a peerless reputation for its in-depth knowledge of India’s corporate environment. The firm’s research department regularly produces ground breaking sectoral studies that unearth gems particularly valued by domestic and overseas investors. IIFL closely monitors and evaluates well over 350 publicly listed companies and counts more than 300 of the world’s largest institutional investors amongst its clients.

The firm has helped a large number of companies on their way to a public listing and is without equal when it comes to designing and implementing a successful IPO strategy. A testament to the quality of its services, IIFL generates a significant number of repeat business and referrals – the firm has become the go-to place for business owners desirous of going public and entering the corporate major league. Over the past 12 months, the firm has been involved in some of the most marquee and unique capital market transactions out of India, a testimony to strong corporate and investor relationships.

With a nationwide network of over 2,200 service points, IIFL is without equal when it comes to placement and distribution as well. However, the CFI.co judging panel considers that IIFL’s dedication to transparency, efficiency and excellence in the delivery of services forged the company’s greatest asset – the trust of the market. The judges note that IIFL now is a hallmark of quality. The judging panel agrees to name IIFL Holdings winner of the 2018 Best IPO Lead Manager India Award.


Pyramidal Technologies: Best Forensic Technology Global 2018

The power of technology is being deployed to rid society of violent crime. Once more of an art than a science, ballistics has evolved to a point beyond reasonable doubt. The guesswork of yore that allowed plenty of wiggle room for defendants to evade justice has been replaced by the detailed analysis and pinpoint accuracy of advanced ballistics.

Few companies have done more to push ballistics into the digital age of high-resolution imagery, analysis, big data, and powerful computers than UK/Barbados based Pyramidal Technologies. The company’s ALIAS (Advanced balLIstics Analysis System) suite of solutions breaks new ground with capabilities not seen anywhere else. ALIAS employs a scanning technology offering nanometre vertical resolution that is sharp enough to resolve tool marks that are less than the width of a human chromosome. As such ALIAS represents a remarkable feat of technology. The system – a suite of interlocking modules that may be used jointly or separately to dovetail with the client’s requirements – uses an open architecture and can easily be connected to already existing firearms management databases.

Pyramidal Technologies’ ALIAS consists of three domains – forensic ballistics, firearms registration and criminal intelligence. The domains are complementary and may be linked to provide an end-to-end solution. The systems are continually updated and upgraded to include new features, and further improve existing ones, in order to maintain and expand its leading edge. ALIAS is primarily directed at law enforcement, justice and military organisations. The system is operational in Canada, Europe, Mexico, South America and the Caribbean and was also part of the EU Odyssey Project.

The CFI.co judging panel commends Pyramidal Technologies on its achievements in advanced ballistic and its success in building a system that produces solid evidence time and again. In particular, the Judges noted that Pyramidal Technologies had contributed significantly to secure societies with the deployment of ALIAS as part of a National Security initiative for Firearms Registration in the Dominican Republic, where escalating firearms violence was reduced, year upon year, resulting in hundreds of lives saved. The judges are delighted to offer Pyramidal Technologies the 2018 Best Forensic Technology Global Award.


BCPG Public Company: Best Clean Energy Community Solutions Southeast Asia 2018

Seeking to forestall a doubling of electricity rates over the next ten or so years, the government of Thailand has opened the sector to competition and streamlined regulation in order to entice new players to enter the market and new trends to set the tone. As talk of renewables moves to action and new producers come online, the industry is ready for a shakeup.

Already enjoying a significant edge over the competition, BCPG Public Company enjoys optimum exposure to the growth potential of renewable energy in its many forms - solar, wind, and geothermal. The company is one of Thailand's largest independent power producers injecting 182 MW of clean energy into the country's national grid. Elsewhere in Asia, the company has over 190 MW of installed capacity of solar power in Japan, 20 MW of wind power in the Philippines and 182 MW of geothermal in Indonesia. It is well on its way to push its portfolio to beyond the 1 GW barrier in 2020.

The company is particularly interested in community-based initiatives that enable consumers to also become producers, slashing power bills and supporting sustainable development initiatives. To that end, BCPG invests in power producers already online and promising projects. The company leverages its knowledge and ability to source funds to help alternative energy start-ups reach maturity.

The CFI.co judging panel agrees that the future belongs to renewables and commends BCPG on its achievements as the Thai energy sector opens up and presents opportunity. BCPG has shown an ability to move quickly and decisively to occupy and hold new ground. The judges are pleased to grant BCPG Public Company the 2018 Best Clean Energy Community Solutions Southeast Asia Award.


African Risk Capacity: Most Innovative ESG Risk Protection Provider Africa 2018

African countries have continued to grapple with the high costs imposed by climate change, natural disasters, and extreme weather events. In its bid to assist Member States in managing their climate risks, the African Union, in 2013, set up the African Risk Capacity (ARC) as a specialised agency.

ARC helps African governments reduce the burden of directly financing the high response costs to climate disasters by deploying modern risk mitigation, pooling, and transfer mechanisms that enable Member States to swiftly meet challenges without a contingent, pressing demand on the national exchequer.

African Risk Capacity uses state-of-the-art technology to map and track weather events around the continent and employs predictive software to pinpoint potential trouble spots. This allows the agency to properly gauge the intensity of the expected event, calculate the number of people at risk, and prepare a targeted response even before disaster has struck. The approach also significantly reduces the cost of relief efforts and improves response times.

ARC uses Africa RiskView, a software developed by the UN World Food Programme, to correctly estimate needs and rally resources. The African Risk Capacity now forms the core of a Pan-African disaster response system, in line with the African Union’s overall strategy for managing extreme weather events and the effects of climate change.

Working with its stakeholders, the experience of ARC in quantifying and pooling risk also helps countries shape sustainable development policies that have a direct and positive impact on the lives of millions of Africans.

The CFI.co judging panel applauds the foresight of the African Union in setting up ARC to bolster the continent’s resilience in dealing with climate risks. The judges agree that the importance of the African Risk Capacity will only increase with its effective technical and financial solutions in addressing climate risk. The judging panel is therefore pleased to give to African Risk Capacity the 2018 Most Innovative ESG Risk Protection Provider Africa Award.


Guaranty Trust Bank (Ghana): Best Digital Banking Ghana 2018

Determined to provide streamlined, integrated, and easily accessible financial services, Guaranty Trust Bank (Ghana) has vastly expanded its online platform and distribution channels. The bank cuts across demographic and social strata to offer its comprehensive suite of products and services to all Ghanaians, in the process reducing the number of people without access to bank accounts.

Anyone with a moderately smart mobile phone is able to open an account with just a few taps and swipes. Bank *737# allows users to initiate the process of opening an account at GTBank online. Once the relevant information has been submitted the system generates a code that may be brought into any one of the bank’s branch offices to quickly complete the application. By special arrangement with the country’s telecom providers, contact with GTBank is free of charge – no airtime or data traffic is billed to the user.

GTBank allows customers to zero their accounts without running the risk of closure. The nifty app developed by the bank enables instant money transfers, online bill payments, and the topping up of pre-paid phones. The app also instantly connects users to a help line where agents are ready to answer all queries thus ensuring a human touch amidst all technological marvels.

The CFI.co judging panel applauds all initiatives that promote financial inclusion. GTBank’s innovative *737# app redefines the concept of digital banking. It was designed from the ground up as a tool to simplify the entire banking experience making it much less daunting to users who may otherwise be reluctant to enter a branch office. The judges are pleased to note that the Ghanaian bank, a repeat winner, remains committed to innovation and operational excellence. The judging panel agrees to declare Guarantee Trust Bank (Ghana) winner of the 2018 Best Digital Bank Ghana Award.


AnandRathi: Best Wealth Manager India 2018

For proof that a client-centric approach in financial services yields superior results, look no further than AnandRathi – the premier Indian wealth manager and investment bank which last year grew its business by an astonishing 80%. The firm is recognised as one of the country’s foremost – as well as most innovative – providers of financial solutions to private, corporate, and institutional clients.

AnandRathi was set up in 1994 and quickly canvassed the nation with well over 1,200 branch offices and associate brokers. The firm also maintains a presence in Dubai and is a member of India’s most important bourses, including the Bombay and National stock exchanges, and the National Commodities Exchange.

AnandRathi owes a significant part of its remarkable corporate success to its staff which now comprises over 2,500 professionals. Comprehensive skill development programmes enable staff members to stay well ahead of their peers and accumulate the expertise that forms the core of the firm’s business.

Already receiving much acclaim for its research department, AnandRathi has also stayed well ahead of the technological curve. The company now offers its clients a trading platform optimised for mobile devices which allows clients to trade whilst on the go and check and evaluate their positions at all times.

The CFI.co judging panel has followed AnandRathi’s corporate trajectory since 2014 and recognised the firm’s progress with three awards. The judges agree that the company has kept pace and managed to expand its already formidable lead with new products and services. The judges feel justified in declaring AnandRathi winner of the 2018 Best Wealth Manager India Award.


Pangaea Securities: Best Emerging Markets Financial Advisory Team Southern Africa 2018

Pangaea Securities is an independent Zambian owned and managed corporate finance advisory and brokerage business that has helped shape the securities markets of Southern Africa since its inception in 1994. As one of the founding members of the Lusaka Securities Exchange, it has consistently been selected by leading domestic and international corporate clients to advise on and complete numerous corporate finance transactions. The firm is one of only a select few that offer both local expertise and global reach. Pangaea Securities has formed a crack team of highly motivated professionals that delivers the highest quality services to its ever-expanding client base. The firm is also recognised for nurturing local talent by enabling promising professionals to hone and expand their skill set through advanced training programmes.

Throughout its 20+ year history, Pangaea has constantly sought to develop and introduce new products and services into its markets. When the company identifies an unmet market need, its entrepreneurial DNA kicks in and it works hard to meet that need. It has introduced a holistic approach to the business by engaging all stakeholders in any given transaction or undertaking in order to maximise a successful closing while minimising risk. Furthermore, the firm pursues a sustainable business model that ensures high quality services for clients and strong returns for investors. Pangaea Securities’ management team is the only one in Zambia able to successfully complete highly complex transactions involving multiple jurisdictions as evidenced by its impressive track record and deal book. Pangaea is also recognised for its unwavering commitment to the highest level of corporate integrity. The firm values good corporate citizenship and maintains a number of CSR initiatives. Pangaea Securities aims to make a significant contribution to national and regional development by providing alternative sources of funding and furthering environmental, social and governance (ESG) standards.

The CFI.co judging panel commends the firm on its achievements. The judges declare Pangaea Securities winner of the Best Emerging Markets Financial Advisory Team – Southern Africa 2018 Award.


Aquashield Oil and Marine Services: Best Maritime Security Services Nigeria 2018

Facing escalating insurance costs and increased downtime due to rising threat levels, Nigeria’s offshore oil and gas operators have turned to private security contractors for relief. However, only a handful of companies can deploy the security assets required to face off increasingly well-armed thugs, pirates, and vandals.

Aquashield Oil and Marine Services maintains an impressive fleet of guard and combat vessels, including eight fast intervention security vessels (FISV) that can log speeds of up to 25 knots and give chase with fast RIBs. Four of Aquashield’s FISVs have been designed and built to the company’s exacting specifications. The other four ships are former navy patrol vessels with proven capabilities in higher intensity confrontations. The Aquashield fleet also includes two large platform supply ships, anchor handling supply tugs, and minor vessels such as construction barges and dredges.

No other Nigerian maritime security company is able to mobilise such a vast array of security assets as Aquashield. The company works in close collaboration with the Nigerian Navy and is allowed to field armed naval personnel. Aquashield also maintains a comprehensive communications network that allows for proper threat assessment and tracking. Additionally, the company boasts full search and recovery (SAR) capabilities and offers inshore (harbour) escort services to commercial vessels.

The CFI.co judging panel notes that Aquashield Oil and Marine Services is a company that commands respect by both its size and dedication to operational excellence. Its mere presence in any quadrant of Nigeria’s turbulent waters has an immediate calming effect that allows the company’s customers to keep the oil and gas flowing – adding to the nation’s prosperity. The judges are pleased to offer Aquashield Oil and Marine Services the 2018 Best Maritime Security Services Nigeria Award.


Siyana: Most Innovative Wastewater O&M Team Middle East 2018

A pioneer in the collection and treatment of wastewater, Siyana processes in excess of 22,000 cubic metres of residential and industrial effluents each day at its state-of-the-art facility in Fujairah – one of the seven constituent emirates of the UAE. The company was the first privately-owned wastewater utility in the Middle East and one of only a select few to be included in the Expoval Project – a research and development programme managed and funded by the German government.

Siyana also spearheads the deployment in the Middle East and Africa of containerised solar-powered wastewater treatment plants that provide clean drinking water to remote communities. Siyana has partnered with Water4All of The Netherlands to set up a pilot plant in the UAE that employs ultrafiltration technology which allows for the chemical-free processing of tertiary-treated effluent. The company now intends to manufacture compact wastewater treatment facilities in the UAE.

Since it won a 33-year concession from the Emirate of Fujairah in 2004, Siyana has consistently raised the bar for the entire industry, keeping not just apace but well ahead of economic developments, expanding its collection and distribution networks and commissioning treatment plants in a timely fashion to help boost growth. The company has invested more than $230m of its own money in system and network upgrades with a view to preserving a leading edge.

The CFI.co judging panel notes that Siyana also supplies over 1.3 billion gallons of high-quality effluent to local farmers – enough to irrigate close to 7,000 hectares of land – using its own distribution network. Thanks to Siyana, Fujairah farmers no longer need to use much more expensive desalinated or well water to irrigate their crops. The judges agree that the relentless pursuit of operational efficiencies through high-tech solutions is key to the successful management of scarce water resources. Siyana provides those solutions. The judges are pleased to grant Siyana the 2018 Most Innovative Wastewater O&M Team Middle East Award.


Islamic Bank of Afghanistan: Best Business Bank Afghanistan 2018

Empowering the Afghan business community and helping local entrepreneurs seize opportunity and expand trade, Islamic Bank of Afghanistan makes a significant contribution to the country’s economic development. From its earliest days the bank has served the Afghan private business sector with a full range of premier products and services, including cross-border transactions. Islamic Bank of Afghanistan is also recognised as a preferred partner to state bodies, multilateral organisations, diplomatic missions, and non-profit entities, amongst others.

The third-largest bank in the country with deposits totalling $210 million and a staff of more than 800 professionals, Islamic Bank of Afghanistan maintains a nationwide network of 62 branch offices. The bank is a subsidiary of Azizi Group – the country’s largest financial services provider and a corporation with a large regional footprint. As such, Islamic Bank of Afghanistan is able to structure and execute complex deals on behalf of its clients, spanning multiple jurisdictions.

The bank initiated and supports a number of corporate social responsibility programmes such as a sustained effort to reduce the number of unbanked people and businesses in the country. The bank’s comprehensive CSR portfolio also includes high-impact initiatives to promote gender equality and skills development. On the commercial side, Islamic Bank of Afghanistan introduced facilities to help fund the transition to renewable energy with an innovative credit line for solar power generators.

The CFI.co judging panel has followed the trajectory of Islamic Bank of Afghanistan for a number of years and agrees that the institution has been, and indeed continues to be, a foundational pillar of the exceptionally resilient Afghan business community. As such, the bank merits recognition for its considerable achievements. The judges are therefore pleased to name Islamic Bank of Afghanistan winner of the 2018 Best Business Bank Afghanistan Award.


Colombo Land & Development Company: Best Real Estate Corporate Governance Sri Lanka 2018

Deploying the power of excellence in corporate governance to raise funds and ensure sustained profitability, Colombo Land & Development Company (CLDC) has managed to successfully complete a number of high-end real estate developments in Sri Lanka that helped transform the Colombo skyline.

CLDC has been recognised as a pioneer in corporate governance, adopting best practices and maintaining the highest global standards of transparency and accountability in order to ensure continued investor confidence. The approach has allowed the company to obtain a listing on the Colombo Stock Exchange and consistently outperform its peers. CLDC has tirelessly promoted the importance of solid corporate governance as a driver of economic progress. Moreover, the company consistently aims to take the interests of all stakeholders into account – including those of the surrounding communities.

Raising institutional integrity has enabled CLDC to keep and expand its leading edge as a developer of premier properties. Building on the success of its Liberty Plaza extension and renovation project, the company is now laying the groundwork of Liberty Towers and Retail Mall which is set to become a Colombo landmark and fully exploits the synergies available in a mixed commercial-residential setting.

The CFI.co judging panel is keen to promote and recognise excellence in corporate governance. The judges strongly believe that governance is key to unlocking shareholder value and securing the long-term growth that benefits all stakeholders. The judging panel is both pleased and honoured to declare Colombo Land & Development Company winner of the 2018 Best Real Estate Corporate Governance Sri Lanka Award.


Joon: Best Airline Branding Europe 2018

An airline for discerning millennials, Air France offshoot Joon took to the sky last December serving short- and medium-haul European routes from its Paris hub at Charles de Gaulle airport. Joon emulates the gentle approach pioneered by British low-cost carrier EasyJet, shunning the abysmal customer practices common at carriers situated at the bottom of the market.

Joon was set up to relieve parent company Air France from the need to compete on price on routes to popular holiday destinations. Later this year, the company starts long-haul flights to Fortaleza (Brazil), Mumbai, Mahé (Seychelles), and Cape Town using four rebranded Air France Airbus 340s. It also expects to incorporate the widebody Airbus 350-900 into its fleet.

Though on course to compete for passengers with Norwegian, to date the only other low-cost long-haul carrier, Joon for now seeks to exploit routes to destinations not yet fully discovered by the travelling public. The carrier also offers full onboard connectivity to get the attention of iPhone-addicted youngsters and introduced an alternative inflight menu including vegan food options. In keeping with its youthful branding, Joon employees sport tight jeans and body-hugging polos – and carry a genuine smile.

The CFI.co judging panel commends Joon on its corporate branding, recognising the exercise goes much deeper than just the customer-facing image. Joon is an attempt to engage with travellers, anticipating their needs and broadening their horizons – all that with a distinctive French touch. The judges agree to declare Joon winner of the 2018 Best Airline Branding Europe Award.


Produbanco: Best Bank Governance Ecuador 2018

One of only a select few banks in South America with a triple A credit rating, Ecuador’s Banco de la Producción S.A. – Produbanco – illustrates the power of corporate governance to bolster resilience and drive growth. Late last year, the bank breached the 700,000 customer mark and further expanded its nationwide network to 115 full-service branch offices.

Facing the public with a commitment to excellence in the delivery of services, Produbanco has managed to claim additional market share, further improve its financial performance, and strengthen the already solid fundamentals. The bank, one of the largest in the country, is part of Grupo Promerica which has emerged as a regional corporate powerhouse with a presence in nine countries.

Produbanco is widely recognised as a pioneer in the implementation of a solid corporate governance structure that not only serves as the bank’s operational backbone but also underpins its performance and helps push sustained growth. The pursuit of corporate transparency also helps the bank mitigate risk whilst ensuring full engagement with all stakeholders.

The CFI.co judging panel has followed Produbanco for a number of years. During that time, the bank has consistently met or surpassed industry benchmarks. The judges agree to declare Produbanco winner of the 2018 Best Bank Governance Ecuador Award.


Concord International Investments Group: Best Asset Manager Egypt 2018

Egypt thinks big. New megacities are being planned alongside vast economic zones that are to provide a crucial impulse to the country’s development. The country has partnered with Saudi Arabia and other regional powers to secure financial backing for its comprehensive development blueprint. Private and institutional investors are being courted as well. Opportunities abound for those looking in the right places and willing to tap into local expertise.

Concord International Investment Group, a leading New York-based fund manager specialised in Egyptian securities, has more than eighty professionals at its Cairo office dedicated to tracking exceptional value. The firm was the first to set up both close-ended and open-ended country funds in Egypt. It also established the first – and to date only – UCITS (undertaking for collective investments in transferable securities) fully invested in Egyptian securities.

With such a large presence in Egypt, Concord is widely recognised as the go-to firm for investors eyeing opportunities in the country. Concord funds have repeatedly received a five-star rating by independent investment research company Morningstar. Concord funds also feature regularly in the top ten of best performing funds as compiled by Standard & Poor’s.

Building on its regional expertise, Concord also established Tulip Investments which is now the largest mutual fund focussed on Turkey – another growth market.

The CFI.co judging panel has followed Concord for a number of years. The firm has consistently outperformed its peers, displaying a keen sense of timing, and claiming three previous award. Concord leverages its considerable management expertise to build up local businesses and execute carefully crafted and perfectly timed exit strategies. The judges congratulate Concord International Investment Group on its win of the 2018 Best Asset Manager Egypt Award.


Tracom Services: Best Enterprise Payment Solutions East Africa 2018

Home to some of the country’s most gifted whizz kids – now grown into seasoned professionals – Tracom Services of Kenya is in the business of pushing the tech envelope and helping customers seize digital opportunities and prosper by exploiting the latest online delivery channels.

The company has developed a number of innovative payment and online banking platforms that offer solutions tailored to the needs of the local market. Tracom Services offers a full suite of fully adaptable and scalable IT packages for the financial services industry.

The software development studio and certified hardware centre one of the largest and most admired in East and Central Africa, maintains a number of development hubs with offices spanning across the East and Central African region. Tracom Services offers a number of ready-made and bespoke payment solutions that are designed to fit seamlessly into existing operations, empowering businesses, and providing instant scalability.

From its corporate beginnings, Tracom Services has kept its leading edge by embracing innovation and helping both private and public sector customers with cost effective solutions that significantly improve day-to-day operations by simplifying and automating internal processes – such as reporting and risk assessment requirements.

Tracom Services helps its customers gain the nimbleness that is needed to stay or surge ahead of the competition. The firm partners with top hardware companies such as Ingenico, Diebold Nixdorf, Idemia (OT- Morpho), Evolis, Cardag, among others that are recognised for their innovative approach to payment processing.

The CFI.co recognises the power of seamless, single-click payment processing: well-designed systems can deliver business growth rates that shatter benchmarks. The judges name Tracom Services winner of the 2018 Best Enterprise Payment Solutions East Africa Award.


Natal Joint Municipal Pension Funds: Outstanding Leadership Pension Fund Industry South Africa 2018

In an unusual move, the CFI.co judging panel has granted a personal award to Sam Camilleri, CEO and principal officer of the Natal Joint Municipal Pension Funds (NJMPF) since 2007 and one of South Africa’s best-known advocates for financial literacy.

Mr Camilleri has the natural ability to bring out the best in people. He leads by example and displays a genuine interest in fellow workers and their challenges and aspirations. Mr Camilleri strongly believes in lifelong learning and has initiated numerous skill development programmes with a view to increasing both job and customer satisfaction levels.

Mr Camilleri is recognised throughout the industry for his professional acumen. Under his leadership, NJMPF became one of South Africa’s flagship funds, celebrated for setting new performance benchmarks and raising the bar on governance. NJMPF is now considered one of the country’s top retirement fund administrators – and one of the first to adopt a full set of ESG (environmental, social, and governance) standards.

Throughout his distinguished career, Mr Camilleri has insisted on pursuing a sustainable business model – one driven by incremental and accumulative change. At NJMPF this approach built a resilient organisation primed for exponential growth whilst keeping to the human dimension. Few pension funds are as close to their members as NJMPF – a true hallmark of quality.

The CFI.co judging panel is pleased to offer Sam Camilleri of the Natal Joint Municipal Pension Funds the 2018 Outstanding Leadership Pension Fund Industry South Africa Award.


SIACI Saint Honoré: Best Insurance Brokerage France 2018

As one of France’s largest insurance brokers, SIACI Saint Honoré manages the entire risk chain using a holistic approach to best serve – and empower – its clients. Though offering solutions in all segments of the market, the firm is particularly known for its coverage of industrial risk and social protection with an emphasis on human resources management and cross-border mobility.

Employing well over 2,200 professionals, SIACI Saint Honoré maintains a full-circle vision of risk that is easily adaptable and scalable to the needs and requirements of corporations whose footprint spans multiple jurisdictions. The firm partners with its customers to form long-term relationships that allow for the implementation of bespoke solutions. SIACI Saint Honoré takes pride in its ability to offer the exact amount of coverage in any situation, enabling customers to focus on running their business.

The firm was an early adopter of a streamlined model for all its internal processes that includes short lines of communication. This allowed SIACI Saint Honoré to maintain its operational nimbleness even as the firm’s business volume increased significantly. The company currently serves over 3,500 corporate and more than 2.5 million individual customers. SACI Saint Honoré is the main insurance broker for the civil engineering and logistics sectors. Thanks to both its expertise and experience, the company offers ready-made solutions that dovetail with industry needs and can be put into place at short notice.

The CFI.co judging panel agrees that a good insurance brokerage acts as an unseen – and regrettably often also underappreciated – partner to corporate success and personal development. SIACI Saint Honoré understands that more than most. The judges find that the firm’s outstanding performance merits recognition and declare SIACI Saint Honoré winner of the 2018 Best Insurance Brokerage France Award.


West African Power Pool (WAPP): Outstanding Contribution to Power Integration in West Africa 2018

One of the specialised institutions of the Economic Community of West African States (ECOWAS), the West African Power Pool (WAPP) interconnects and integrates the national power grids of member states to create a single unified electricity market with a view to providing a resilient and dependable supply of power to people and business.

West Africa is a hotbed of economic activity. The countries of the region are determined to unlock their potential and have set in motion a number of initiatives aimed at increasing cross border cooperation and exploring synergies. WAPP is one of those initiatives. Recognising that accelerated economic growth requires a reliable and abundant supply of cheap electrical power, WAPP was created in 1999 by the ECOWAS Heads of States and seven years later, established as a specialised institution of ECOWAS.

Based in Cotonou, Benin, the WAPP helps the fourteen mainland member states of ECOWAS with the development of regional power generation and distribution. The entity also has been assigned a key role in promoting and facilitating the interconnection of member states’ domestic electricity grids.

WAPP is currently working on a large-scale of network interconnection projects, power generation projects and the construction of the Information and Coordination Center. These works will allow by 2020, the completion of the interconnection of all the ECOWAS mainland countries and the commencement of the competitive electricity trade. The WAPP also acts as an intermediary with multilateral and supranational organisations that provide funding for power projects in West Africa.

The CFI.co judging panel congratulates the promotors of this initiative, amongst whom former Burkina Faso power utility (SONABEL) Director General, Siengui Apollinaire KI – now WAPP Secretary General. Mr KI tirelessly advocates for improved cross border cooperation pointing out that integration of the West African power market provides a welcome and a necessary boost to regional growth. The judges are pleased to offer WAPP the 2018 Outstanding Contribution to Power Integration in West Africa Award.


Oman India Fertiliser Company (OMIFCO): Best Sustainable Agribusiness Oman 2018

The Sultanate of Oman has made great strides in improving its food security. The Oman National Food Security Strategy aims to ensure that by 2040 – barely two decades away – the country has attained self-sufficiency in food. That goal is now well within reach as Omani farmers and businesses bring the desert alive with state-of-the-art technology – weaving an intricate web of producers, processors, logistics, and research that is to transform the sultanate into the regional bread basket.

At the base of this formidable agricultural edifice stands the Oman India Fertiliser Company (OMIFCO), set up by the governments of the two countries to underwrite the sustained push towards full food security. The company operates a world class fertiliser plant with two production lines each for anhydrous ammonia and granular urea. Since the start of operations in 2005, the $1bn facility has continuously been operating at full capacity.

OMIFCO is an early-adopter of corporate social responsibility policies that involve the wider community and ensure the interests of all stakeholders are represented at board level. The company maintains a number of initiatives that encourage entrepreneurship, environmental stewardship, and skills development and lifelong learning. Under OMIFCO’s Entrepreneurship Programme, small business owners may access a wide range of educational resources that allows them to unlock growth and “Scale Up to Success”.

The CFI.co judging panel commends OMIFCO on its proactive pursuit of sustainable business practices. The company not only helps secure an abundant supply of cheap, nutritious, and high-quality food, it also goes above and beyond to help forge an even better future. The judges are pleased to offer the Oman India Fertiliser Company the 2018 Best Sustainable Agribusiness Oman Award.


QNB Alahli: Best SME Bank Egypt 2018 & Best Retail Bank Egypt 2018

At home in a market that is driven by small and medium-sized businesses and characterised by an unparalleled entrepreneurial spirit, QNB Alahli has significantly strengthened its operations in Egypt to become one of the country’s leading financial services providers. The Egyptian subsidiary of Qatar National Bank – the largest bank in the Middle East and Africa with well over 1230 branches throughout the region and beyond – QNB Alahli has capitalised on its trust in the power of SMEs to push growth and deliver sustained development.

The bank has effectively tapped into the resourcefulness of Egyptian entrepreneurs to drive and expand its own operations in the country. A partner to the local business community, QNB Alahli has become the vehicle of choice for multilateral financiers to distribute credit amongst small businesses, start-ups, and companies owned by minorities or disadvantaged people. The EBRD (European Bank for Reconstruction and Development) called upon the knowledge and expertise of QNB Alahli to help shape and implement its ground-breaking Egypt Women in Business programme.

QNB Alahli is recognised for its professionalism delivered via streamlined internal and external procedures that enable the bank to maintain an operational nimbleness that belie its vast size and global reach. QNB Alahli is thus able to offer Egyptian SMEs access to a comprehensive array of world-class products and services that not only covers their banking needs but also provides a platform for growth.

The CFI.co judging panel has tracked the performance of QNB Alahli for a number of years. The judges note that the bank fares well regardless of overall market conditions and, perhaps just as importantly, manages to support its SME customers through the peaks and troughs of the economic cycle. The judging panel is therefore pleased to offer QNB Alahli its continued recognition and declares the bank winner of both the 2018 Best SME Bank Egypt Award and the 2018 Best Retail Bank Egypt Award.


BSC (BIDV Securities Company): Best Securities Broker Vietnam 2018

Shattering benchmarks and shaping one of Southeast Asia’s most dynamic markets, BSC (BIDV Securities Company) has been instrumental in empowering Vietnamese businesses. The oldest and largest stock broker in the country, BSC successfully prepared and carried out a number of major IPOs such as the $245m stock placement for Binh Son Refining and Petrochemical which was concluded in January.

The much-anticipated IPO brought 7.79% of the company’s capital into public ownership with foreign investors picking up about half the shares offered. Attesting to the strength of BSC, the IPO was oversubscribed 2.7 times and raised almost $100m more than expected. Leveraging the buoyancy of the country’s stock market, the Vietnamese government has embarked on a sustained drive to engage private investors by opening up state-owned corporations to private ownership. The resulting buzz amongst local and overseas investors has led to a marked increase in business at BSC which is one of only a select few Vietnamese brokerages able to bring in outside capital. Thanks to its strong execution and peerless analysis of the local business environment, the firm has earned the trust of foreign investors.

BSC has now been a market clearing member of Vietnamese derivatives market and will shortly offer covered warrants as well. The firm has invested significant resources in its IT backbone with a view to further expanding the range of its services.

The CFI.co judging panel has followed developments at BSC for a number of years. The judges note that the firm has consistently managed to anticipate trends as one of the world’s most exciting markets opens up. The judges agree to declare BSC (BIDV Securities Company) winner of the 2018 Best Securities Broker Vietnam Award.


African Open Sky: Best Pan-African Aviation Services Provider Africa 2018

Africa’s largest flight support company goes the proverbial extra mile, and then some, to make sure its customers receive world class services that exceed expectations. African Open Sky (AOS) takes care of all aspects of pre- and post-flight ground handling services, including catering, refuelling, security, maintenance, stowage, warehousing, flight planning, and crew management amongst others.

AOS has built a continent-wide network of more than fifty offices in order to deliver optimised services and maintain proximity to its clients. AOS’ large corporate footprint also allows the company to tap into local expertise and ensure ready access to aviation authorities. AOS is fully licensed by aeronautical regulatory entities in all jurisdictions where the company maintains a presence. To maintain its high levels of service, the company refuses to outsource any of its operations to third-party agencies.

Thanks to its unique “go local” approach, African Open Sky has registered exceptionally strong growth. The company fully explores and exploits market synergies, adapting to local circumstance without compromising on the quality of its services. Wherever state, commercial, corporate, or private airline operators need ground services, AOS stands ready to deliver.

The CFI.co judging panels commends the Côte d’Ivoire company on it winning formula and wishes to recognise in particular the vision and accomplishments of AOS CEO Max O Cisse whose exemplary leadership has allowed the company to soar high. Mr Cisse was instrumental in establishing close cooperative relationships with civil aviation authorities across Africa, thus laying a solid foundation upon which the business has been erected. By refusing to compromise on safety and quality, Mr Cisse transformed AOS into a trusted partner of regulatory agencies. As a result of the confidence AOS inspires, the company is able to secure permits and licenses much quicker than others – and at a much lower cost as well.

The judges congratulate the company and its CEO on a double win: African Open Sky is declared winner of the 2018 Best Pan-African Aviation Services Provider Africa Award whilst AOS CEO Max O Cisse is the recipient of the 2018 Best Aviation CEO Africa Award.


KBC Group: Best Bank Governance Europe 2018

Belgium’s KBC Group, the country’s largest bancassurer, has been particularly successful in creating shareholder value. In fact, the bank ranks first in the world for total shareholder return over the period 2012-2016. Since the present CEO took over management of the company in 2012, the group’s share price has increased seven-fold. KBC Group is a favourite amongst investors and clients alike for its relentless pursuit of excellence in corporate governance which, in turn, optimises performance.

KBC emerged in 1998 from the merger of two Belgian banks and an insurance provider, though the group can trace its corporate roots to the late 19th century. Today, the bank serves more than ten million customers around the world and employs close to 43,000 professionals whose mission is to “enable and protect the dreams of clients”.

KBC Group has been exceptionally successful in exploring and exploiting the synergies between its constituent parts. It remains the only financial group in the world to offer fully integrated banking and insurance products at no additional charge. Even so, KBC Group ranks first on the list of Europe’s most profitable financial institutions – a position it has held on to for three consecutive years.

After the 2008 financial crisis, the financial group consolidated its global operations, introduced a renovated corporate culture, and fine-tuned its overall strategy. The changes proved exceptionally successful and offer a textbook example of how to properly steer a large corporation towards sustained profitability.

The CFI.co judging also notes that KBC Group maintains a leading technological edge. In Ireland, new customers can open an account in under five minutes via their mobile phone. Accountholders can now also apply online for a personal loan or overdraft facility in just five simple steps. The judges agree that KBC Group constitutes a prime example of a bank that deploys its excellence in corporate governance – and the trust generated as a result – to power its growth and keep up with the financial services industry’s fast-changing landscape. The judging panel is therefore pleased to offer KBC Group the 2018 Best Bank Governance Europe Award.


The Central American Bank for Economic Integration (CABEI): Best Green Bond Issuer Latin America

CABEI last year launched its first-ever green bond. The four-year ZAR denominated bonds were sold to retail investors in Japan and raised ZAR 1,032,000 equivalent to US$72,865.918. The move came in the wake of a decision by the bank’s authorities  to promote, support, and help underwrite initiatives and projects aimed at mitigating climate change effects. In the same vein, the bank has been accredited by the Green Climate Fund to channel financial resources to the public and private sector of its Member Countries to implement adaptation and mitigation projects to support the country efforts to deal with Climate Change.

Founded in 1960, CABEI´s objective is to promote the economic integration and the balanced economic and social development of the Central American region, which includes the founding countries and the non-founding regional countries, attending and aligning itself with the interests of all of its member countries. CABEI seeks to maximize the impact of its operations on Sustainable Economic Development of the Region and Sustainable Development Goals (SDGs) of the of the 2030 Agenda for Sustainable Development.

The bank is recognized as a pioneer of sustainability in Central America and during the period 2010-2015, 67% (US$5.11 billion) of its approvals included activities on mitigation and adaptation to Climate Change. Moreover from 1960 to 2016 CABEI has approved energy projects of more than US$5,800 million, which increased installed capacity for approximately 5,920 MW (mostly from renewable sources) which accounted for more than 38.0% of the total power generated in the region.

The bank has its headquarter in Tegucigalpa (Honduras), and has offices in Guatemala, El Salvador, Nicaragua and Costa Rica, with an advanced process to open offices in Panama in 2017. CABEI has also welcomed Non-founding regional members such as Belice, Panama, and Dominican Republic as well as extra-regional members such as the Republic of China Taiwan, Mexico, Argentina, Colombia, and Spain.

The CFI.co judging panel congratulates CABEI on its successful entry into the buoyant green bond market and declares the bank winner of the 2017 Best Green Bond Issuer Latin America Award.


ENGIE Energía Perú: Best ESG Power Provider Peru

In Peru, ENGIE is one of the country’s principal power generators with an installed capacity exceeding 2,500MW. The company operates five thermoelectric plants and two hydroelectric facilities.

Since it started operations in Peru in 1997, ENGIE Energía Perú has demonstrated its willingness to become a benchmark in the local electricity market. This intent has strengthened in the last six years, with ambitious investment plans, high operating standards, an orderly financial management, a business strategy focused on high-value clients, a culture aimed at enhancing human talent and safety, and relations that add value to the company’s neighbour communities.

In line with its corporate greening strategy, ENGIE Energía Perú has dedicated resources for the construction of a solar power plant in Moquegua, some 1,100 kilometres south of Lima. The region is to host a number of large solar power facilities. ENGIE’s Intipampa plant entails a $55m investment and will inject 40MW into the national power grid.

ENGIE Energía Perú is part of the French global power utility ENGIE, with operations in 70 countries. Globally, ENGIE develops its businesses (power, natural gas, energy services) around a model based on responsible growth to take on the major challenges of energy’s transition to a low-carbon economy: access to sustainable energy, climate-change mitigation and adaptation and the rational use of resources. In 2015, the company unveiled an ambitious plan to move away from fossil fuels. ENGIE has earmarked more than $22bn for investment in renewables and decentralised energy technologies that use smaller high efficiency generating facilities with much reduced carbon footprints.

A recognised pioneer of corporate sustainability, ENGIE Energía Perú has incorporated sound environmental management according to strict ESG (environmental, social, and governance) standards in all day-to-day operations and processes. The company’s prudential management of risk has allowed it to close 2017 without any environmental incidents or non-compliance marks.

A repeat winner, ENGIE Energía Perú is not an unknown entity to the CFI.co judging panel. The judges are pleased to note that the company consistently improves its environmental record and is determined to excel in sustainability. The judges are therefore happy to declare ENGIE Energía Perú winner of the 2017 Best ESG Power Provider Peru Award.


Euro Exim Bank: Best Global Trade Services Bank 2018

A trade facilitator with a global reach, Euro Exim Bank is a trusted partner that helps businesses extend their footprint by tapping into lucrative new markets and sourcing excellent opportunities. Euro Exim Bank, headquartered and licensed in St Lucia and with a representative office in London, is a specialist in providing financial services to small and medium-sized enterprises (SMEs), regardless of where in the world they are located.

Euro Exim Bank offers a full suite of trade-related banking services such as letters of credit and guarantee, global funds transfers, export letters of credit, and a host of other financial instruments designed to facilitate trade flows. Customers are kept appraised of the latest trends and developments via a monthly newsletter – The Trailblazer – which also highlights various Euro Exim Bank services and shows how SMEs may extract optimum benefit from them.

Euro Exim Bank expends considerable effort to check for compliance with all relevant rules and regulations. A third of the bank’s staff is engaged in ensuring the bank meets and exceeds all demands made upon it as a financial services provider. This also assures customers that Euro Exim Bank is at all times able to quickly respond to their own requirements since the bank continuously updates its knowledge of compliance-related issues in multiple jurisdictions.

The CFI.co judging panel agrees that SMEs the world over can and should benefit from the expertise of a bank specialised in global trade. The judges are pleased to offer Euro Exim Bank the 2018 Best Global Trade Services Bank Award.


Masthaven Bank: Most Innovative Digital Retail Bank UK 2018

[caption id="attachment_5719" align="aligncenter" width="600"] Managing Director: Jon Hall[/caption]

It sounds so simple, only it isn’t. Online retail banks realise full well that advances in technology may wow customers, but it is the human touch that begets business. The question is how to extract synergies and tangible benefits from digits whilst keeping close to the customer and his or her unique banking needs and expectations. The UK’s Masthaven Bank, on the leading edge of a second wave of disruptor banks seeking to challenge established convention, has put its customers in charge.

Surprisingly, Masthaven Bank refrains from deploying complex and often indecipherable algorithms and credit scoring mechanisms to gauge its accountholders. Instead, the bank’s staff is well-trained to treat each customer as an individual who deserves the benefit of manual underwriting. This way, accountholders are not reduced to an entry on a spreadsheet to be marked according to strict, secretive, and often bewildering rules.

Masthaven Bank has designed a comprehensive range of streamlined products that are easy to explain. The result of this approach is a suite of premier financial products that derive their sophistication from simplicity rather than complexity. Masthaven Bank is thus able to offer its savers a number of flexible account options that keeps the customer in control. The bank’s tailored savings bonds have consistently ranked near the top of Best Buy tables. Remarkably for an online-only bank, the average age of Masthaven Bank’s savers hover around sixty. Customers appreciate the ease with which the bank may be approached – there is no labyrinth of automated message to navigate: callers get connected to a knowledgeable agent each and every time.

The CFI.co judging panel notes that Masthaven Bank also offers second mortgages, bridge financing, and purpose-designed credit lines for small and medium-sized house builders. The judges are particularly pleased to note that Masthaven Bank has redefined the online-only banking by rescuing – and celebrating – the human dimension. The judges agree to declare Masthaven Bank winner of the 2018 Most Innovative Digital Retail Bank UK Award.


Azizi Bank: Best Digital Bank Afghanistan 2018

Afghanistan’s largest financial services provider, Azizi Bank has added to its already considerable momentum by incorporating the latest fintech developments into its corporate and client-facing processes, and expanding its global reach. The bank is the preferred partner of diplomatic missions, government entities, and development agencies. It is also the country’s largest commercial bank.

Azizi Bank has also broadened and deepened its initiatives to promote financial inclusion and literacy with a number of products and services aimed specifically at people still outside the regulated banking system. Azizi Bank’s ground-breaking ‘door-step’ banking programme introduces financial services to isolated rural communities previously ignored by the industry. The bank has signed up to a large-scale government programme, run in conjunction with the private sector, to further financial inclusion as an effective tool to encourage rural development.

Azizi Bank has deployed the full power of internet and mobile banking to further its services to existing customers and bring new ones aboard. Thanks to its user-friendly device-independent platform, Azizi Bank has managed to pull ahead of the competition and consolidate its leading position.

Afghanistan’s banking sector, barely fifteen years old, has recognised the opportunities available in a country of some 32 million inhabitants of whom, at present, not even 10% have access to financial services. Azizi Bank is now considered the country’s most socially-aware bank and has helped a large and growing number of Afghans overcome their initial reluctance to conduct their financial affairs through banks. As such, Azizi Bank has helped establish a paradigm shift in the popular attitude towards the entire banking sector.

The CFI.co judging panel notes Azizi Bank’s exceptionally smart use of smart technology to maintain its operational excellence whilst at the same time broaden the bank’s client base. The judges declare Azizi Bank winner of the 2018 Best Digital Bank Afghanistan Award.


MegaInver: Best Balanced Equity Fund Manager Argentina 2018

In Argentina, investors are hard-up for choice. In dollar terms, the stock market has receded significantly this year. Corporate and government bonds also accumulated losses. Small wonder that investors are turning to markets overseas to find solace. There remain, however, a few safe havens in an otherwise depressed market such as the dollar denominated mutual funds set up and administered by MegaInver – one of Argentina’s principal asset management firms with exposure to the retail side of the market.

Thanks to MegaInver, small savers have found a number of niches that preserve the integrity of their capital. The firm’s mutual funds offer retail investors a chance to enjoy the solid yields offered by short-term treasury bonds (Letes), issued locally in US dollars. MegaInver was one of the first mutual fund administrators to recognise the benefits of Letes and set up a number of facilities that allow small savers to enjoy their excellent performance. The short term treasury bonds also enable retail investors to build up a dollar denominated portfolio that is inflation-proof.

MegaInver maintains a comprehensive range of investment funds to suit different levels of tolerance to risk from dollar saving accounts, to fixed and variable income mutual funds and SME funds that tap into one of the country’s most dynamic economic sectors. Investors are encouraged to avail themselves of the firm’s local expertise to design a well-diversified investment portfolio that includes a number of hedges against the vagaries of the market.

The CFI.co judging panel notes that MegaInver fields a team of exceptionally well-trained and experienced professionals and analysts. The firm’s performance is widely recognised as a benchmark for the asset management sector. The judges are unanimous in their decision to name MegaInver winner of the 2018 Best balanced Equity Fund Manager Argentina Award.


Credit Bank of Moscow (CBM): Best Banking Corporate Governance Russia 2018

Declared a “systemically important bank” by Russia’s central bank in 2017, and one of the country’s largest lenders, Credit Bank of Moscow (CBM) in the early 2010s embarked on an remarkable growth trajectory, gaining considerable momentum on the back of two distinct qualities: the ability to quickly adapt to changing market conditions and the determination to adhere to sensible, if not refreshingly conservative, standards of corporate governance. Interestingly, the bank’s go-by-the-book approach not only strengthened to bottom line but also allowed CBM to increase its market share and accumulate a first-rate loan portfolio.

CBM has been particularly successful in attracting deposits from big corporate clients. Widely recognised as a safe haven in times of trouble, CBM has grown quickly by leveraging its reputation – one backed up by solid numbers and the policies that underpin them. Having stringent internal policies and excellent reputation among the international financial community, the Bank has been extremely successful in raising international funding, having gained leading positions among CIS financial institutions on international debt capital markets in 2017 and 2018.

Set up in 1992, CBM has prioritised corporate governance from its earliest corporate beginnings, proactively engaging all stakeholders – shareholders, customers, staff, and regulatory entities. The bank improves its corporate governance system on an ongoing basis in line with legal changes and best practices, both Russian and international ones. The bank’s internal and external operations, processes, and dealings benefit from full transparency. CBM’s ten-seat supervisory board includes five independent members and two who represent the interests of small shareholders. CBM has received strong support, and assistance, from large multilateral financial institutions for the design, implementation, and monitoring of its corporate governance code. The bank also invited these institutions to appoint seasoned experts to a seat on its supervisory board. CBM’s Supervisory Board has also appointed a dedicated high profile professional to advise particularly on corporate governance development and further improvement.

The CFI.co judging panel agrees that Credit Bank of Moscow represents a hallmark of quality in corporate governance. The bank’s dedication to openness and excellence in both operations and governance has built a financial powerhouse. The judges are pleased to declare Credit Bank of Moscow winner of the 2018 Best Banking Corporate Governance Russia Award.


Ghana Investment Promotion Centre (GIPC): Best Investment Promotion Agency Africa 2018

[caption id="attachment_5739" align="aligncenter" width="800"] CEO: Yofi Grant[/caption]

Ghana is open for business – big business. The country is actively looking for partners to help underwrite a number of megaprojects and has created a regulatory environment to match. For starters, Ghana aims to become the hub  and consequently the breadbasket of West Africa. The country has over eight million hectares of fertile land ready for the plough. A pilot programme involving circa 200,000 local farmers has already been launched. The initiative and others such as the “One Village One Dam” and “One district One factory” aim to increase productivity and create tens of thousands of new jobs in the food processing industry.

The Ghana Investment Promotion Centre (GIPC) acts as a one-stop venue for investors interested in taking a stake in the country’s promising future. As one of the most stable countries in the region, Ghana ranks at or near the top on a number of crucially important criteria such as governance, the rule of law, press freedom, and safety.  It is also seen as one of the fastest growing countries in the world in 2017 with a GDP growth rate of 8.5%, the pearl of West Africa is now going global with a sustained campaign to attract foreign direct investment by offering unparalleled conditions and opportunities.

GIPC helps the country to realise its full potential by structuring large projects in a transparent way that appeals to investors. The leadership of GIPC is, in fact, now headed by a professional with an investment banking background. Moving from aid to trade, Ghana has already achieved impressive results. Last year, its economy barrelled ahead by 8.5% - easily outpacing all other large markets in Africa.

The CFI.co judging panel agrees that Ghana is now part of the exciting New World of African countries willing to cash in on their demographic dividend and shaping a business environment that empowers rather than restricts investors. GIPC is key to unlocking that exciting world. The judges are pleased to offer Ghana Investment Promotion Centre the 2018 Best Investment Promotion Agency Africa Award.


Kaiserwetter Energy Asset Management: Best Renewable Energy Asset Manager Germany 2018

The management of renewable energy resources equates to the unrelenting pursuit of efficiency. That, in turn, requires the use of new technologies such as the integration and streamlining of processes via the Internet-of-Things (IoT), big data analytics, and other innovative ways to maximise performance whilst minimising operating cost.

Kaiserwetter Energy Asset Management of Germany manages 28 wind parks and 23 solar power facilities with a combined generating capacity of 470MW. Besides its home market, the company’s footprint extends to Spain, France, and Poland as well. Kaiserwetter has developed a proprietary algorithm for predictive analytics as part of a big data processing push to bring down both capital and operating expenditures. The resulting data allows customers to implement effective risk mitigation policies and reduce downtime.

By combining technical and financial data into a single stream, Kaiserwetter gives its customers access to a cloud-based dashboard that produces an instant overview of their facilities’ performance – from a single turbine to a country-wide series of wind and/or solar parks. Crucially, an integrated data variance model is included to account for meteorological trends and events. This enables operators to immediately finetune their generating plants to ensure optimal performance under any and all conditions.

Last year, the CFI.co judging panel marvelled at the innovations pioneered by Kaiserwetter. As renewables claim an ever larger share of the energy mix, their management becomes more important as well – to operators and investors alike. Kaiserwetter provides both the tools and the solutions that allow wind and solar parks to attain and retain maximum efficiency. The judges are pleased to offer Kaiserwetter Energy Asset Management the 2018 Best Renewable Energy Asset Manager Germany Award.


Auka: Best Mobile Payment Platform Europe 2018

Nobody doubts that the future of retail banking is in mobile accessibility. Most clients no longer wish to manage their personal finances at local branch offices. Even booting up the desktop computer is often too much of an effort. Traditionalists by nature, retail banks find it hard to keep up with shifting consumer patterns. Mobile banking solutions are layered atop legacy platforms, adapted, and presented as true innovations. Alas, they are not and often feel clunky.

Norwegian mobile payment solutions provider Auka built its system from scratch and in such a way that future developments and breakthroughs may be easily bolted on. Auka’s fully scalable mobile banking platform incorporates the latest real-time P2P payment features and allows consumers to pay for purchases instantly without the need for additional POS hardware. The associated cross-platform app allows users to access their chosen merchant’s mini-shop without ever leaving the application’s secure environment. Merchants benefit from a vast range of easily implemented marketing options such as tailoring their online store to suit the client’s preferences and purchase history.

Auka’s mobile banking solutions are turnkey systems that dovetail with existing IT systems used by financial services providers. The company’s platform is unique as includes the latest features demanded by savvy customers without requiring a full – a complicated and expensive – overhaul of legacy systems.

Banks using Auka mobile payment solutions report significant growth of their customer base and increased levels of customer satisfaction thanks to gaining a competitive edge.

The CFI.co judging panel notes that Auka has partnered with Google to design a robust cloud platform. The judges agree that the Norwegian company has developed an exceptionally resilient platform that takes mobile banking to the next level – and beyond. The judging panel congratulates Auka with its win of the 2018 Best Mobile Payment Platform Europe Award.


Valentino: Best Fashion Corporate Governance Italy

[caption id="attachment_5768" align="aligncenter" width="800"] Antonella Andrioli, Valentino's Legal and Corporate Affairs Director (right) receiving an award from CFI.co[/caption]

The name evokes a certain je ne sais quoi. Valentino, the landmark Italian fashion house named after its founder, has redefined and perfected style since the early 1960s with a perfect melange of suave subtlety and luxurious extravagance. The company’s designers unfailingly set the tone in the fashion world with collections that push the boundaries of convention and explore new frontiers without ever going over the top.

The brand received wide acclaim from the specialist press at the 2018 Paris Fashion Show, the industry’s flagship event, where even critics not usually given to handing out praise broke with tradition and penned raving reviews citing exquisite colour juxtapositions – always arresting but never jarring. Reaffirming ownership of its signatory house style, Valentino’s creative director Pierpaolo Piccioli showcased in Paris a haute couture at its most dreamily elevated without ever coming close to – or even within striking distance of – the caricatures often trying to steal the show with appeals to the extremely ridiculous or utterly impractical.

The fashion house has generated a great deal of excitement on the trading floor as well in anticipation of its possible float. Owned by a Qatar-based privately-owned investment company, Valentino has reportedly mulled offering up to 25% of its share capital on the Milan Stock Exchange. Though the IPO has been suspended for now, investors recognise exceptional value due to Valentino’s well-established reputation for excellence in corporate governance.

The CFI.co judging panel notes that Valentino has resisted the urge to stray from its core business. The company has powered its growth organically, leveraging the peerless competencies that made it into the true last emperor of the fashion world – and this emperor is indeed very well clothed. The judges are honoured to offer Valentino the 2018 Best Fashion Corporate Governance Award.


CheBanca!: Most Innovative Digital Smart Bank Italy

[caption id="attachment_5779" align="aligncenter" width="1000"] Marketing & Communications Director: Antonio Fratta Pasini[/caption]

Italy’s CheBanca! leverages the power of technology to simplify its front office procedures and thus vastly improve the customer experience. Deploying data analytics, artificial intelligence, and robot advisory techniques, CheBanca! has managed to streamline both internal and external processes, saving on operational costs, slashing processing times, and improving the overall quality of its services.

Recognised in Italy and abroad for its innovative, if not revolutionary, approach to retail banking, CheBanca! – the human digital bank – has succeeded in preserving a personal touch. Though its back office operations are driven by marvels of technology, the bank’s customer-facing business is all about providing account holders with products and services tailored to meet their needs. In fact, thanks to its use of advanced analytics, CheBanca! is often able to anticipate customer needs and offer timely solutions.

CheBanca! has, in a way, reinvented the wheel and as such represents an interesting business case. The bank was designed from the ground up as a technology-driven financial services provider. CheBanca!’s operational structure is such that new IT developments can be easily incorporated in order for the bank to maintain its leading edge. CheBanca! was set up in 2008 and is part of Mediobanca, one of Italy’s largest financial groups.

The CFI.co judging panel notes that CheBanca! has ditched convention to embrace invention. It not merely pushed the envelope but did away with the container altogether and rewrote an entire business. Even more importantly, the bank has consistently registered solid growth and captured a significant share of the market. The judges are delighted to offer CheBanca! the 2018 Most Innovative Digital Smart Bank Italy Award.


Montpensier Finance: Best Multi-Asset Fund Manager France 2018

Set up in 2004 and today one of France's leading independent investment managing companies, Montpensier Finance has gained recognition — and acclaim — for bringing together a peerless group of seasoned asset management professionals. The firm has established an enviable track record by deploying analytical and decision-making processes developed and perfected in-house. ESG problematics (Environmental, Social and Governance) are well incorporated in the process to determine stock selection.

Montpensier Finance is headed by a pioneering investment manager who introduced the multi-management concept to France in 1988 — long before the modality became `de rigueur'. Multi-manager investment products benefit from the diversification of funds spread across different asset classes and markets — each segment entrusted to specialized fund managers — trying to maximize returns. The firm also developed the Montpensier Market Scan (MMS) which enables multi-asset and flexible management teams to rely on the four major drivers of asset allocation: macroeconomic momentum, monetary policy dynamics, market valuation, and market dynamics.

Montpensier Finance has been particularly successful in its mission to outperform the overall market over longer periods. The firm tops €2bn in assets under management and maintains a number of funds tapping into Eurozone, Europe-wide, and global markets and split according to different models adjusted for optimum return in varying categories of risk tolerance.

The CFI.co judging panel notes that Montpensier Finance is a signatory to the United Nations Principles for Responsible Investment (UNPRI). The judges are unanimous in their decision to grant Montpensier Finance the 2018 Best Multi-Asset Fund Manager France Award.


Image Nation Abu Dhabi: Outstanding Contribution to Regional Media UAE 2018

Founded in 2007, Image Nation Abu Dhabi has grown into the leading film and media production company of the Middle East. The company spearheads a new growth industry and, according to market watchers, is driving nothing less than a media revolution in the Arab world. The company has accumulated an impressive portfolio of major feature film productions including Men in Black 3 (212), The Hundred-Foot Journey (2014), and Keeping Up with the Joneses (2016).

Image Nation is a forward-looking progressive media business that prioritises and supports artistic creativity. The company has focussed on nurturing local and regional talent – not only actors but also script writers, media technicians, and production specialists. Image Nation is, in fact, credited with shaping an entire new and competitive industry which now offers exciting opportunities to both investors and professionals.

Image Nation has also been recognised – and engaged – as a key media partner by Saudi Arabia which considers the company the only one in the region that operates to the high standards demanded. As it seeks to expand throughout the region, Image Nation deploys its successful corporate formula to tap into broader markets.

The company caused a veritable media sensation with its 18-part legal drama series “Justice” which follows an Abu Dhabi hotshot lawyer as he solves crime cases based on real-life court proceedings. Image Nation joined local talent with leading Hollywood producers and screenwriters to create Justice, which received near universal praise as a prime example of what cross-cultural productions can achieve.

The CFI.co judging panel has followed the trajectory of Image Nation Abu Dhabi for a number of years and agrees that the production company has successfully placed the Arab World’s media industry onto a higher plane from where it may well become a global player before long. The judges also note that Image Nation has accomplished this by pursuing close cooperation and partnerships with the industry’s other main players. The judging panel declares Image Nation Abu Dhabi winner of the 2018 Outstanding Contribution to Regional Media UAE Award.


Steel Wood Industries: Best Sustainable Process Innovation UAE 2018

By researching wood sources that can be harvested and used – without cutting a single tree, Steel Wood Industries launched a gamechanging revolutionary product – Steel Wood Density Board (SDB) – a new type of composite wood panel that is set to change the wooden furniture and associated industries in the region. SDB is a highly engineered 100% recycled wooden board having premium quality features by using a constant density gradient, revolutionary internal bonds, elasticity and compressed core creation processes to ensure flawless uniformity. The result is a balanced panel with a premium face, an edge screw-holding capacity and very low associated emissions.

The company is now set to launch its disruptive Gusolid-PCS (PCS: Precast) line of construction materials which have the tensile strength of reinforced concrete at a significantly lower specific weight. All Gusolid products are made out of recycled green material and, as such, represent the building blocks of the future. This could produce a 100% recycled building from columns to beams, floorings, ceilings and the like.

In addition, a palm tree can generate up to 10kg of fibrous wood leaves per year, for instance. The UAE has more than 50,000,000 palms which produce 500,000 tons of leaves, an abundance of natural sustainable material which can be used and reused to cover the demand for wood. Aside from SDB, Akmam is one of the innovative products which is specifically made from palm leaves.

The company founded by a US-trained Lebanese scientist, takes particular pride in manufacturing environmentally-friendly products and the flame-inhibitors called Bardan. As part of its corporate social responsibility initiative, Steel Wood Industries actively promotes fire safety awareness in GCC.

The CFI.co judging panel agrees that density board manufacturers all too often downplay the risks associated with their products. Steel Wood Industries places safety at the top of its priority list. Having R&D as its starting nuclei, the company is also recognized for its dedication to both quality and innovation. Moreover, Steel Wood Industries is the only wood panel manufacturer in the GCC and the first in the Middle East to put its entire production line on an environmentally-friendly footing. The judges are pleased to name Steel Wood Industries winner of the 2018 Best Sustainable Process Innovation UAE Award.


Moody's de Mexico: Best Credit Rating Agency Mexico

[caption id="attachment_5805" align="aligncenter" width="1000"] Representative Director: Alberto Jones-Tamayo[/caption]

Consolidating and expanding its long-time leadership in the Latin American credit rating market, Moody’s has significantly strengthened the company’s presence in Mexico. Debt issuers and investors alike count on the expertise, credibility, and engagement of Moody’s thirty local analysts to detect micro and macro trends and ascertain the state of the overall market.

In Mexico, Moody’s tracks close to 900 debt issuers and investment vehicles such as corporates, financial services providers, publicly-owned entities, investment funds, structured finance undertakings, and large projects, amongst others. Whilst monitoring the financial markets, Moody’s adheres to a comprehensive code of conduct which ensures full transparency.

The company publishes detailed descriptions of the methodology it employs to evaluate businesses, entities, and funds in each sector of the economy. This way both debt issuers and investors gain insights into the criteria used which, in turn, helps improve the overall quality of financial instruments.

Worldwide, Moody’s monitors in excess of $72 trillion in financial instruments. The company employs over 1,100 analysts and has recently redoubled its already considerable efforts to include ESG (environmental, social, and governance) performance standards in its assessments. In Mexico, Moody’s helped guide, explain, and inform the environmental impact of the new $13bn airport, soon to become the largest in Latin America, being built to the north of the capital.

The CFI.co judging panel commends Moody’s on its presence in Mexico and the work done to help issuers and investors tap into the resources needed to fuel sustained economic growth. The judges declare Moody’s winner of the 2018 Best Credit Rating Agency Mexico Award.


Club Med: Best Leisure Experience Europe 2018

Club Med is back. Returning to its roots as the creator of the all-inclusive vacation, Club Med has embarked on a major expansion drive, adding three to five resorts to its already bulging portfolio of nearly 70  holiday resorts and destinations. The company has moved upmarket and earmarked $1.5bn to renovate existing resorts and acquire new ones.

The pioneering company, founded as a non-profit in 1950, reinvented itself by pushing its original concept to the upper echelons of the market, sourcing vacationers from a wider demographic and offering more choice in venues and activities.

In tandem with the repositioning of the brand, Club Med is also expanding its Exclusive Collection of premier resorts in some of the world’s most attractive settings. The collection includes a number of features available only to top-tier guests. This way, Club Med was able to tap into high-margin markets. Corporate profits have soared, setting a fifteen-year record whilst operating income grows at a robust 20% annual clip.

In the last 18 months, Club Med opened new resorts in China, Japan, and France. Club Med Cefalu in Sicily – an almost mythical destination and one of the company’s first resorts – has been thoroughly renovated – just  opened this month as Europe’s first Club Med Exclusive Collection Resort.

These different openings symbolize 2 of the pillars of Club Med strategy:

Global: to open 3 to more than 5 resorts per year by 2020 all around the world)

Upscale: to open Premium or Exclusive Collection resorts and with the aim to reach 10% of Club Med capacity for Exclusive Collection by 2020.

Club Med has also a 3rd pillar which is “Happy Digital”. Club Med continue to invest in the digital to make more easy holidays of our clients & more easy life of our GOs & GEs by giving more space for happiness moments and even more value to Human.The CFI.co judging panel commends Club Med on its resilience and corporate determination to vigorously defend the turf it created. The judges agree that Club Med has a winning formula and declare the company winner of the 2018 Best Leisure Experience Europe Award.


BNY Mellon: Best Cash Management System Global 2018

[caption id="attachment_5820" align="aligncenter" width="680"] BNY Mellon Treasury Services staff, from left to right: Ron Johnson, Product; Ron Orrico, Global Client Service; Moneque Jeletic, Chief Administration Office (CAO) Administration; Ryan Betz, Business Response; Paul Adamo, CAO; John Peretic, Product; Jen Wagner, Global Head of Client Support; Erin Schuster, Proposal Group; Lulu Adekanye, Business Response; Daniel Steuernagel, Product; and Juliana Galante, CAO Administration.[/caption]

Boosted by investor interest after registering a solid 9% increase of its year-on-year revenue in Q1 2018, Bank of New York Mellon Corp (BNY Mellon) has amply demonstrated its ability to grow organically, exceeding the expectations of even the most bullish analysts. That was enough to convince Warren Buffet to significantly up his stake in the bank.

BNY Mellon has made waves with a series of successfully executed efficiency drives which streamlined procedures and further improved the bank’s operational performance as evidenced by the boost to its bottom line. BNY Mellon has invested considerable resources in a new technological platform which is expected to help drive growth both from internal proficiencies and externally through improving the client experience.

BNY Mellon’s treasury services offers international corporate clients premier cash management services based on their global treasury technology platform. Servicing 36 countries and 120 currency markets has forced BNY Mellon to think global when digitally innovating - to the benefit of their clients relying on business-critical payments across borders.

BNY Mellon’s role as the frist payment originator on The Clearing House’s Real-Time Payments (RTP) network means it is capable of processing payment transactions with better liquidity, transparency and tracking agility. Speeding up the value chains by enabling swifter payments results in value-add for commerce.

The value creation enhancements of the cash management system benefit also other financial institutions as it is part of the private label treasury services solutions on offer.

The CFI.co judging panel commends BNY Mellon on its proactive approach to the cash management and its overall treasury services business, particularly the company’s continued dedication to precisely tailoring its services to keep up with demands such as real time transparency. The judges are pleased to offer BNY Mellon the 2018 Best Cash Management System Global Award.


Guinea Alumina Corporation (GAC): Best ESG Mining Project West Africa 2018

It is the largest greenfield project of the last four decades in the country and is already now providing a powerful boost to its economy: the Guinea Alumina Corporation (GAC) is developing a large open pit bauxite mine in the West African country in addition to the rail and port infrastructure needed to ship the ore to Abu Dhabi where its parent company, Emirates Global Aluminium (EGA), is constructing the UAE’s first alumina refinery which is expected to enter into operation next year.

Guinea sits atop one third of the world’s proven reserves of bauxite. With global demand for alumina strengthening almost continuously, the West African country has sparked the renewed interest of mining companies. A number of projects have been initiated, none larger or more comprehensive in scope than GAC’s mine near Boké in the north-western region of Guinea.

GAC has structured its project with a view to forging a tight partnership with the host country. The company is in Guinea for the long haul – the Boké concession runs for 25 years and is automatically renewable for another quarter century – and seeks to help Guinea develop not just the national economy but its human resources as well. GAC maintains a vast training programme to help Guineans acquire the skills needed to run the company’s entire operation. It is GAC’s stated goal to have, before long, a complete Guinean team of professionals in place to operate its facilities in the country. The company has also initiated a comprehensive corporate social responsibility programme to help local communities and implemented a set of environmental policies that exceed globally accepted standards.

The CFI.co judging panel notes that GAC runs one of the safest mining operations in West Africa and, once fully operational, is expected to contribute up to $400 million annually to the country’s exchequer. The judges are most pleased to offer Guinea Alumina Corporation (GAC) the 2018 Best ESG Mining Project West Africa Award.


Paulo Castellari-Porchia: Outstanding Contribution to Cultural Transformation in Mining Governance 2018

Few people have done more to change the fundamentals of the mining industry than Paulo Castellari-Porchia. Recognising early-on in his career that most mining companies were caught out on the wrong side of the sustainability debate, Mr Castellari-Porchia set out to modify and update long-established processes and practices by engaging all stakeholders, addressing environmental concerns, and developing corporate social responsibility initiatives. His overriding concern has been to change the way mining companies conduct their business, and by doing so, put the industry on a much more sustainable footing. Throughout his career, Mr Castellari-Porchia has listened more than he talked.

As CEO of Anglo American’s iron ore operations in his native Brazil, Mr Castellari-Porchia had a unique opportunity to reshape the sector. From 2011 to 2015, he oversaw the execution of the $8.3bn Minas-Rio iron ore project – one of the largest of its kind in the world. Mr Castellari-Porchia was brought in as a trouble-shooter at a time when the project was suffering both delays and cost overruns.

He quickly put a new management team into place, mended strained relations with all stakeholders, and secured the cooperation of government at both local and national level. The turnaround Mr Castellari-Porchia accomplished with Minas-Rio has since been studied and discussed by multilateral banks and development agencies as a textbook example of how to implement and manage a megaproject under challenging conditions with the least amount of disruption and friction.

Mr Castellari-Porchia now lends his expertise to Emirates Global Aluminium (EGA) which found him willing to lead the company’s Guinean Alumina Corporation (GAC). In West Africa, Mr Castellari-Porchia now oversees the implementation of a large bauxite mine. He has already indicated that GAC is to become a Guinean company first and foremost and to that end will train local professionals to take over management of the operation before long. In Guinea, Mr Castellari-Porchia launched a number of initiatives to strengthen ties with all stakeholders in order to ensure optimum outcomes for both EGA and the host country.

The CFI.co judging panel commends Mr Castellari-Porchia on his visionary approach to mining and his efforts to lead the industry into a new era where corporate sustainability is used as a lever for risk mitigation. The judges declare Paulo Castellari-Porchia winner of the 2018 Outstanding Contribution to Cultural Transformation in Mining Governance Award.