The Banker awards reflect our passion for Africa’s growth
Standard Bank was recently honoured to receive 2 of The Banker’s Deals of the Year awards for 2022.
These awards celebrate the most notable investment banking transactions across the broad spectrum of global capital markets.
We were awarded the following:
• African Equities Deal of the Year for MTN Uganda's $162m initial public offer
• African Securitisation Deal of the Year for The Thekwini Fund 17 (RF) Ltd, residential mortgage-backed securities programme
African Equities Deal of the Year
Standard Bank, through its affiliate in Uganda, SBG Securities Uganda, acted as sole transaction advisor, sole sponsoring broker and bookrunner for MTN Uganda's $162m initial public offer (IPO). Stanbic Bank Uganda was also the lead receiving bank for the offer.
More than 32 000 retail applications were received for this IPO, making this Uganda’s largest offer in terms of proceeds and retail participation.
MTN Uganda, in collaboration with the Uganda Securities Exchange, developed an electronic platform though which retail investors could open stockbroking accounts and participate in the IPO via the MTN Uganda Mobile Money platform. The platform, which was the first mobile IPO (mIPO) in Africa, signed up 65 000 new users within a few weeks of the launch, tripling the total number of stockbroking accounts in Uganda.
Speaking about the award, Paul Muganwa, Head: CIB Uganda, said “We are exceptionally proud of this commendation for our partnership with MTN Uganda. It is testament to our strong equities focus in the markets in which we operate and our hard-earned reputation as a partner for real growth. Well done to everyone involved, and we look forward to continuing to make our client’s dreams a reality.”
African Securitisation Deal of the Year
SA Home Loan’s securitisation funding platform, of which The Thekwini Fund 17 is a part, is the gold standard for securitisation structures in South Africa, establishing a market benchmark’ set of structural features which are now adopted across a number of non-Bank Asset Backed Security (ABS) sponsored structures.
November 2021 marked the 20th anniversary of SA Home Loans’ first securitisation transaction: The Thekwini Fund 1. This innovative funding transaction was not only a first for SA Home Loans but a ground-breaking deal for the South African debt capital markets, and paved the way for many others to follow. SA Home Loans has since gone on to do many more public transactions, of which The Thekwini Fund 17 transaction is the most recent.
SA Home Loans has to date raised almost R70 billion through its public securitisations such as The Thekwini Fund 17, a remarkable achievement in the context of the turbulent global market conditions encountered over the last 20 years.
SA Home Loans had the boldness of vision to revolutionise the South African securitisation market, and in Standard Bank, they found a partner to join them on that journey.
Speaking about the deal, Rob Kelso, CEO: SA Home Loans, said, “We are extremely proud of the track record of our Thekwini funding platform over the past 20 years, and this award from The Banker for our Thekwini 17 deal reinforces the best-in-class status of our transactions in the market. Thekwini 17 was once again well received and widely supported by our debt capital market investor community, who have been key stakeholders in the success of our business and the positive impact we have had on the housing market.”
Speaking about the deal, Nick Gunning, Head: Securitisation, DCM said, “It’s been a privilege to have partnered with SA Home Loans over the years. We’ve seen them evolve from a small start-up to a giant in both the South African capital market and home loan sector. The award from The Banker recognises their exemplary status, which is in part a product of our strong relationship, and we are proud to continue this journey well into the future."