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Africa's banking sector is abuzz with anticipation of the Battle of the Banks Africa 2023 competition.
In a first-of-its-kind event, young bankers from across the continent are gearing up to showcase their prowess in business acumen, financial performance, risk management, and corporate governance.
This groundbreaking competition is the brainchild of ICAP Training Solutions, in collaboration with the global Capital Markets Professional Services firm, Andile.
It introduces the ProBanker's Battle of the Banks simulation engine, a novel concept in Africa.
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The primary goal is to provide a unique platform for emerging banking talents to demonstrate their skills and knowledge actively.
Participants in this competition gain invaluable insights into how different aspects of a bank work together to enhance overall business and financial performance and develop an understanding of how macroeconomic indicators influence high-level decision-making within banks.
READ: Inspiring story of graduate who started as a cleaner and is now a banker
Practical learning for competitive advantage
The Battle of the Banks Africa offers a golden opportunity for participants to actively acquire skills that would typically require years of on-the-job experience. Teams representing various banks can apply their newfound knowledge to excel in their daily roles within their respective institutions.
The grand finale
The pinnacle of the competition is the "shoot-out" scheduled for November 22.
During this high-stakes event, the top-performing teams will actively present a comprehensive 4-quarter performance report.
This report will scrutinize their simulated bank's performance, taking into account crucial factors such as stock performance, net income, loan performance, Basel ratio, and capitalisation usage.
These elements collectively contribute 65% towards the final score, with conceptual learning (15%) and simulated assignments (20%) actively making up the remaining 35%.
Pieter Kelbrick, Managing Director of Andile, elaborated on the broader vision of the Battle of the Banks Africa, stating, "Our goal with this competition is to provide practical experience, a unique learning simulation, and an opportunity to actively develop skills and business acumen."
"Additionally, it offers access to online training tools, webinars, and a chance to actively network with fellow young bankers from across Africa. The winners will indeed emerge as Africa's best young bankers."
How to participate
To enter as a team, aspiring contestants can actively visit www.battleofthebanks.org and register before the deadline on September 15, 2023.
The entry fee for a team of four is $2,750. The rewards for excellence in this competition are substantial, including a prestigious floating trophy for the best-performing young bankers on the continent, individual winners' trophies, gold medals, certificates, and a $2,000 ICAP Academy coupon for the top team.
Prizes are also available for the second, third, and fourth place winners, as well as recognition for the Most Aggressive Bank, Most Cautious Bank, and Best Bank presentation in the Grand Finale.