#World Finance #iib West Africa #Cape Verde

iib West Africa Named Best Commercial Bank in Cape Verde for 2025

On December 15, 2025, World Finance Magazine announced that iib West Africa has earned the title of Best Commercial Bank in Cape Verde for the upcoming year. This accolade reflects the bank's significant contributions to the commercial banking sector in both Cape Verde and the wider West African region, particularly its support for small and medium-sized enterprises (SMEs) and efforts to enhance access to financial services.

Joseph Carasso, the CEO of iib West Africa, expressed his pride in the recognition, describing it as a validation of the bank’s commitment to fostering inclusivity in financial practices across the area. He stated, "We are incredibly proud to have received the World Finance accolade. It is a testament to our commitment to the region, where we are dedicated to accelerating inclusivity and making finance more accessible for our clients."

Operating under the iibGroup umbrella, which has a presence in Africa, the Gulf Cooperation Council (GCC), Asia, and the Caribbean, iib West Africa strives to provide diverse financial products and services aimed at empowering businesses and entrepreneurs. Over the past year, the bank has initiated various projects to enhance cross-border trade while supporting vital sectors like agriculture and infrastructure, thereby streamlining banking processes for business operators.

In a conversation with World Finance, Sohail Sultan, Chairman of iibGroup Holdings, elaborated on the bank’s vision for emerging markets. He proclaimed, "Our mission is to unlock the potential of regions often overlooked by mainstream banking. We believe in a value-led financial infrastructure that drives responsible growth, fosters inclusion and respects local dynamics. We are not just intermediating capital flows; we are reallocating confidence to the economies that would otherwise remain underserved."

Sultan emphasized the necessity of establishing robust, lasting relationships within the communities they serve, highlighting the bank's commitment to local leadership, financial education, and support for environmental, social, and governance (ESG) initiatives. He remarked, "For us, success isn't just about financial return – it is about social and systemic return."

Addressing the challenges of emerging markets, he stated, "Where others see complexity and risk, we navigate the local operating environment to build the necessary banking infrastructure and systems, providing services at competitive costs that others may find challenging."

Part of this strategy includes a strong emphasis on digitization, aimed at reducing transaction costs, enhancing capital access, and increasing transparency in financial operations. Sultan pointed out that many traditional banks contribute friction to the financial ecosystem through high fees and cumbersome processes. In contrast, the bank's digital platforms and cross-border settlement tools are establishing new benchmarks in financial accessibility.

Moving forward, iid West Africa is focused on building resilience and responsibility into its business model. Sultan noted their investment in green financing and sustainable trade corridors while fostering a decentralized ecosystem that empowers local institutions. Additionally, he mentioned exploration into how artificial intelligence and digital identity can revolutionize credit models for underserved populations.

World Finance's annual awards celebrate organizations that exhibit excellence in performance, innovation, and impact, with iib West Africa being recognized for its dedication to promoting transparency, inclusion, and trust within the banking sphere. For further information, visit World Finance.

As World News Media—the parent company of World Finance—continues to provide valuable insights into financial markets globally, iib West Africa's award stands as a beacon of sustainable banking practices in Cape Verde and West Africa.