In investment banking, Citi continues to benefit from the combination of a leading global network and a far greater on-the-ground presence in Africa than most other international companies.
With a team led by the president of investment bank for the Middle East and Africa, Miguel Azevedo and Claude-Stephanie Ngningha, head of Citi investment banking in Africa excluding South Africa and Egypt, Citi demonstrates its strengths in mergers and acquisitions – providing both advice and the debt financing of the Vivo Energy-Engen merger for example – and on the capital markets.
The bank worked on a $750 million convertible bond for South African energy company Sasol. She led two block trades for Barclays, worth around $1.3 billion, enabling the British bank to exit its stake in South African lender Absa. He was the sole global coordinator of an accelerated $370 million bid for South African retail group Pepkor, taking advantage of a narrow market window to allow local investment firm Lancaster to offload of his participation.