The partnership with Cabo Verde was formalized on Monday 18 May in Lisbon, with the signing of the agreement between Lisa Bandari, UK Ambassador to Portugal and Cabo Verde, and Sohail Sultan, Chairman iibGroup. The ceremony was also attended by S.K. Husain, COO iibGroup, Joseph Carasso, CEO iib West Africa and Sabiha Sultan, Director – Institutional Investors iibGroup.

“The students who have benefited from Chevening scholarships through iibGroup over the past year demonstrate the real impact that this type of initiative can have, not only at an individual level but also within their communities. By renewing this partnership, we are reinforcing our commitment to empowering talent and promoting more inclusive and sustainable development, training the leaders of tomorrow”, emphasized Sohail Sultan during the event.

PRAIA, Cabo Verde / WASHINGTON, D.C., April 2025
In a landmark move for Cabo Verde’s sustainable development, the Intercontinental Investment Bank S.A. (iib West Africa) and the Ministry of Finance of Cabo Verde (MoF CV) have signed a Memorandum of Understanding (MoU) to facilitate the issuance of a Sovereign-Guaranteed Green Bond for Empresa de Distribuição de Eletricidade de Cabo Verde (EDEC). The signing took place on the sidelines of the Spring Meetings in Washington, D.C., reinforcing Cabo Verde’s commitment to a green and resilient energy future.This dedicated agreement between iib and the Ministry of Finance underscores the Government’s active role in structuring a financing solution tailored to the needs of the Cabo Verdean people. The Green Bond will unlock critical investment to strengthen EDEC’s operational capacity, improve electricity production and distribution, and reduce technical and non-technical losses across the national grid.

Washington, D.C., April 15, 2025 – The Africa Finance Corporation (AFC) and the Intercontinental Investment Bank, S.A. (iib West Africa) today announced the signing of a Memorandum of Understanding (MoU) in Washington, D.C. The agreement establishes the framework for a Term Loan Facility of up to EUR 50,000,000, intended to finance the underwriting and subscription of a Sovereign-Guaranteed Green Bond to be issued by Empresa de Distribuição de Eletricidade de Cabo Verde (EDEC), marking a significant milestone in sustainable infrastructure financing on the African continent.The signing ceremony will be attended by high-level government representatives from Cabo Verde, including the Deputy Prime Minister and Minister of Finance, H.E. Olavo Avelino Garcia Correia, reflecting the commitment of both institutions, as well as the Government of Cabo Verde, to advancing sustainable development and green energy solutions in the country and across Africa.

This new opening marks another important step in the bank’s expansion strategy in Cabo Verde, reinforcing its commitment to strengthening proximity with customers, partners, and investors—particularly in one of the country’s most dynamic economic and tourism hubs.The Banking Office has been designed to offer personalized and client-focused experience, combining comfort, accessibility, and professionalism. The space aims to provide tailored information and dedicated support regarding the bank’s financial solutions, with a special emphasis on savings and investment opportunities. Through this initiative, iib WA seeks to ensure close and responsive service aligned with the specific needs of each client.

“Sal Island is a strategically important location for iiib West Africa, being one of Cape Verde’s main hubs for economic and tourist activity. It offers significant potential for investment and business development for our operations and for ensuring greater proximity and convenience for our customers” , reinforces Joseph Carasso, CEO of iib West Africa.

This new Banking office reinforces iib West Africa’s ongoing commitment to Cabo Verde, its clients, and the sustainable economic development of the islands, based on a strong, relevant, and locally engaged presence in the national market.

About iib West Africa:
iib West Africa is a commercial bank with a strong international focus, part of the iibGroup, and has been operating in Cape Verde since 2018.

iibCV currently employs around 50 people and has a dynamic sustainability and social responsibility programme, being the only bank in Cape Verde to be a signatory to the United Nations Global Compact.

The awards were formally presented at a ceremony hosted at The Peninsula London Hotel on March 19, 2026, celebrating leading institutions in global private banking and wealth management.

The Euromoney Private Banking Awards are widely regarded as a benchmark of excellence in the financial industry, recognizing institutions that demonstrate superior performance in client service, innovation, discretionary portfolio management, and the ability to meet the evolving needs of high-net-worth clients.

These dual recognitions highlight iibGroup’s growing strength across multiple markets, underpinned by a client-centric approach and a commitment to delivering tailored financial solutions. In Cape Verde, iib West Africa has continued to strengthen its premier banking proposition through personalized advisory services and innovative product offerings. In Djibouti, iib East Africa has reinforced its leadership in private banking by delivering bespoke wealth management solutions and enhancing client experience through both relationship-driven service and digital innovation.

Commenting on the achievement, Sohail Sultan, Group Chairman, said:
“We are honored to receive these recognitions from Euromoney across two key markets. These awards reflect the strength of our strategy and our unwavering focus on delivering personalized, high-quality banking experiences. These awards are a testament to the trust our clients place in us and the dedication of our teams across regions to continuously raise the standard of private banking.”

The awards ceremony in London was attended by senior representatives from iibGroup, including Sohail Sultan, Chairman iibGroup) and Joseph Carasso, CEO iib West Africa, marking a significant milestone for the Group’s international presence and continued growth in private banking.

iibGroup remains committed to expanding its footprint and enhancing its private banking and wealth management capabilities, combining global best practices with deep local market expertise to serve clients across its operating regions.

About Euromoney
Euromoney is a globally recognized authority in financial publishing, providing analysis and rankings across the international banking sector. Its Private Banking Awards celebrate institutions that demonstrate excellence in wealth management and set the benchmark for client service and innovation worldwide.

Praia, 11 May 2026 – iib West Africa has been honoured with the Exchange Operator Award 2025 – Primary Market (Corporate and Municipal) by the Bolsa de Valores de Cabo Verde (BVC), as part of the ceremony commemorating the 28th anniversary of BVC.

The award was presented during the Bolsa Awards ceremony held on May 11 at Hotel Pérola, Praia, Cape Verde, bringing together key representatives from the financial and capital markets ecosystem.

This recognition highlights iib West Africa’s active role in supporting the development of Cape Verde’s capital markets through innovative and impact-driven financial instruments. The bank’s work across Green Bonds, Blue Bonds, and Social Bonds was also showcased during the ceremony through a video presentation highlighting their contribution to social development, healthcare, and the Blue Economy.

Mr. Joseph Carasso, CEO of iib West Africa, received the award from Márcia Solange Tavares Teixeira Marçal, Executive Director of BVC and Executive Member of the Board.

This international initiative continues to reinforce the importance of financial education among young Cape Verdeans, promoting knowledge, competitive spirit and preparedness for the future.

With the support of iib, students from different islands of the country have again had the opportunity to participate in this enriching experience, putting their knowledge of the financial market to the test.

Top graders were distinguished with awards that fuel their academic and professional journey:
• Rank 1 – 6 Month Internship at BVC
• 2nd grader – 3 months internship at iib
• 3rd classified – Training at an accredited entity in Cape Verde

More than a competition, the Scholarship Tournament is an investment in young talent and the development of a sound financial culture in Cape Verde.
iib Your Bank Your Future

Between responsibilities and accomplishments, they are the ones who find time to be, support, and teach, leaving a mark that goes far beyond the workplace.
On this special day, we honour all the parents on our team, for what they do and most of all, for who they are.

Happy Father’s Day!

iib – Your Bank, Your Future.

We reaffirm our commitment to promoting equity, supporting choices, and accompanying each course, creating spaces where everyone can fully develop their potential.
Happy International Women’s Day!

The Minister recognized iib’s commitment to corporate social responsibility, environmental management, health initiatives, and the issuance of green, blue, and social bonds aligned with sustainable development.

Translated with DeepL.com (free version)