CDHIB honoured with 2022 Investment Bank of the Year award by The Global Banking & Finance Review Magazine
CDH Investment Bank (CDHIB) has been honoured with the 2022 Investment Bank of the Year in Malawi by The Global Banking & Finance Review Magazine — a leading online and print magazine in the United Kingdom during the awards ceremony held in London this year.
CDH Investment Bank was recognized for its determination and various strides in investment banking and advisory that have contributed positively to economic growth.
The award comes at a time when the bank is celebrating its 10th anniversary which was celebrated under the theme, ‘Creating Value’.
Among the many services that the investment bank has provided to its customers include supporting the Government of Malawi in managing national food security, advice on the formation of an additional sugar manufacturing company in Malawi and creation of a national development fund.
Commenting on the award, CDH Investment Bank Deputy Chief Executive Officer and Executive Director, Thoko Mkavea, said the award is a testimony of the positive contribution which the bank has made to the economy over the 10 years in which it has operated in Malawi.
“We are honored to have been recognized this year, as we celebrate ten years of operations as an investment bank,” he said: “Our found
er’s dream — when forming the investment bank in 2012 — was to create a specialist financial institution that provides a blend of investment banking and, financial advisory services and wholesale commercial banking to selected clients.
“We are proud of the many milestones we have achieved so far over the years.”
CDH Investment Bank opened for business on April 2, 2012, following the successful conversion from Continental Discount House Limited, which had operated in the financial sector for 14 years since August 1998.
The bank has grown through leaps and bounds and contributed positively to growth of many individuals, organizations and communities and ultimately the nation in the past decade.
Many individuals and businesses have shared testimonies of the growth that partnership with CDH Investment Bank has given them for their personal lives, businesses, and communities.
Mkavea said this is the 10th time they have won the award which illustrates their “commitment and leadership in investment banking in Malawi. We are grateful our customers for their unwavering support over the years.”
This year alone, CDH Investment Bank emerged second runners-up in Labour Laws Compliance and third for Quality, Productivity and Innovation award at the 2022 Employer of the Year Awards that were organized by Employers Consultative Association of Malawi (ECAM) on December 9, 2022 at Amaryllis Hotel in Blantyre.
The awards, a testimony to the banks pedigree as a preferred employer in Malawi, was received on behalf of the bank by Ivy Kwatiwani, who is the Chief Human Capital Development Officer.
They are in recognition to the bank for being amongst the best employers’ in the market.
Just on Thursday, CDHIB enhanced its corporate social responsibility (CSR) initiative by investing K2 million Darts Association of Malawi (DAM) recognition of positive strides sport has achieved over the years at international regional level.
The sponsorship is towards the hosting of the association’s end of year national championship, the DAM Cup, which fuses veterans, youths and ladies all in one.
Also in celebrating the 10th anniversary’s theme of ‘Creating Value’, CDHIB has made several other CSR initiatives that include donating K16.9 million to Mary’s Meals towards construction of a kitchen and learners feeding block at Mbinda Primary School in Blantyre.
It also invested K15 million for the construction of a school block at Dzama in Lilongwe — a project being undertaken by University of Caroline
CDHIB has before contributed a lot to support the country’s education development efforts in a variety of ways over the past 10 years — ranging from provision of learning materials, infrastructure, financial support to less privileged students through their institutions of learning.
It also supported towards once-off merit awards to excellent performers in disciplines that have a potential of providing a future talent pool to the business.
As the country continues facing a forex shortage, the leading investment bank has implored on key players in the economy to give urgent attention to export development, which can lead to generation of foreign exchange.
In November, Chief Executive Officer (CEO), Kwame Ahadzi offered a huge and positive solution towards developing the country’s economy, saying Malawi has a lot of exporting opportunities that are currently underutilized.
Ahadzi said Malawi produces soya, sugar, cotton and other top agricultural crops for export “but these are mostly produced in small quantities”.
“We believe an investment in the agribusiness and other sectors could largely contribute towards the foreign exchange generation in the country”, adding that the country’s foreign exchange reserves continue to be under pressure due to the dwindling of gross domestic product (GDP) and therefore requested official and private sector reserves, Malawi’s economic players, public and the private to implement forex generation activities in order to improve the forex situation in the country and support economic activities.
He also urged the country to implement deliberate efforts for imports substitution while developing exports which can be realized through industrialization and tailored and efficient technological development to accelerate production and value addition.
“Malawi has suffered severe forex shortages, especially this year, in addition to the devaluation of its national currency,” he had said. “To fix the forex exchange shortages, measures looking to address both the demand and supply side of foreign exchange need to be adopted.”
According to the bank, the country has over the years been depending on its main cash crop, burley tobacco to generate forex. However, in recent years, Malawi has invested in tea, sugar, and soya beans in a bid to diversify its exports.
CDH Investment Bank offers unique tailor-made services including advisory services to the Government and other institutions, research, deal origination, and access to both local and international capital markets.
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