Lisbon, May 15 th , 2025 – iibGroup has partnered with the Chevening Scholarships, the UK program that guarantees scholarships for postgraduate studies in that country, with the award of a scholarship in both Cape Verde and Djibouti.

The partnership with Cape Verde was formalized this Thursday, May 15, in Lisbon, with the signing of the protocol between the UK Ambassador to Portugal and Cape Verde, Lisa Bandari, and Joseph Carasso, CEO iib West Africa. The ceremony was also attended by the CEO of iib West Africa, Joseph Carasso, Duarte Maria de Sousa Araujo Martins accompanied by his wife, Dona Maria Francisca, Duchess of Coimbra, and other guests.

Speaking at the occasion, Sohail Sultan, Chairman iibGroup, said, ‘At iib, we believe that education is one of the most powerful tools for the development of societies. Partnering with the Chevening Scholarship allows us to invest in the next generation of leaders who will not only uplift Cabo Verde but also strengthen global ties through knowledge and collaboration. We are honoured to formalize this commitment today, in partnership with the British government, and look forward to the impact this initiative will have.”

Also at the ceremony, Lisa Bandari, stated, ‘“Chevening is more than a scholarship – it is a life-changing experience, which opens doors to world-class universities, cultural diversity, and a network of 60,000 alumni worldwide. We are delighted to welcome iibGroup as a partner in this important initiative. Their commitment to supporting talent in Cape Verde reflects a shared belief that education is a driving force for global progress.”

Chevening is the UK government’s scholarship program, through which scholarships are awarded to people with a solid academic background who demonstrate leadership potential. It offers financial support to study at a UK university and the opportunity to join an influential global network of over 50,000 alumni in more than 160 countries and territories.

In addition to financial support, iibGroup will mentor and promote the selected students, integrating them into the Group’s various initiatives. iibGroup continues to strengthen its role as a catalyst for progress, reaffirming its commitment to empowering the next generation of leaders and promoting innovation for a more sustainable future. Applications for the Chevening scholarship for Cape Verde are currently being considered.

Global Finance has named the Top Financial Innovations across seven regions as part of the Innovators Awards for 2025.This is Global Finance’s twelfth annual awards program recognizing entities that regularly identify new paths and design new tools in finance. All selections were made by the editorial board of Global Finance with the input of reporters who are experts on the functions being served by these innovators. Entries were required for consideration.

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Founded in 1987, Global Finance is a trusted source of financial news, analysis, and rankings, serving senior corporate and financial decision-makers in 188 countries. Its awards programs recognize excellence in banking and finance worldwide.

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“This recognition fuels our determination to redefine banking standards both in the region and globally.”

Sohail Sultan – CEO

Joseph Carasso has been the CEO of iibCV since July 2024. He has extensive management experience in the banking sector, having spent most of his career working at Citibank subsidiaries in Brazil and in African countries such as South Africa (where he was responsible for 30 countries and the Financial Institutions business), Uganda, Ghana, and, more recently, Tanzania, where he led the subsidiary between 2013 and 2019. He also worked in Central Asia, heading Afghanistan International Bank (2019-2024), where he positioned the bank as a key player in humanitarian actions. The first interview since taking office in Cape Verde, exclusively, to Expresso das Ilhas.

What plans do you have for iibCV in the short/medium term?

The iib has been in Cape Verde for seven years and has focused on making Cape Verde a West African business hub and developing innovative ways to finance the local economy, with new opportunities for investment and growth.

We have a highly qualified team, which has been the driving force behind our success. Their value and excellence are recognized by clients and other stakeholders who trust us with their investments.

iib Cabo Verde is a unique bank with an extraordinary strategic vision. This is what we want to continue to translate into the national economy, especially in our area of expertise: the capital markets. In the medium term, we will continue to position ourselves as a true partner for companies and entrepreneurs in supporting projects with an impact on the community.

Given our strong international focus, we want to continue supporting the internationalization of the economy, but also the Cape Verdean diaspora, with products suited to their savings and investment needs.

I would say that iibCV is in Cape Verde with a clear mission: to contribute to the development and improvement of the quality of life of society, our people and their families, and to drive sustainable growth based on rigorous principles of governance and social responsibility. And this is exactly the mission we want to continue to fulfil in the future.

Where would you like to see the bank in the next 5 years?

I am certain that we will continue on our path of affirmation, opening the country’s doors to the world and making Cape Verde a business hub – both with other African countries and with Europe and America.

We know that the national banking sector is small and has several players, each with their own advantages. I believe that our global nature sets us apart and will allow us to continue to attract investment, add value to the Cape Verdean economy, while supporting the cross-border expansion of businesses with local roots. I would therefore say that I would like iibCV to continue to be involved in the realization of projects and dreams, both personal and business.

We will continue to focus on the excellent service that has brought us to this point and which has led to the bank being considered a “Great Place to Work” for four consecutive years, a recognition of our excellence as a company to work for. I hope this continues to be the case and we will work towards this goal.

Social responsibility is and will continue to be a priority. Over the past few years, we have created different opportunities to support communities, promoting financial literacy and investment in social projects. Initiatives such as Blue Bonds, which finance structural projects linked to the blue economy, Social Bonds, which supported SOS Children’s Villages Cabo Verde, and Green Bonds, which sponsored the implementation of the energy transition project at the Agostinho Neto University Hospital, the largest hospital in the country, will continue to be on our radar, as well as others to support health and, in particular, the education of our young people.

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A streak of successes: iib celebrates being recognized as a Great Place To Work® in Cape Verde for the fourth year running! A special thank you to our amazing team for making this possible and for promoting positive change everyday.

Following a survey conducted among colleagues, iib ranked exceptionally high across all parameters, including workplace culture, collaboration, open-door policy, teamwork, and camaraderie. iib congratulates the entire team on achieving this tremendous milestone.

High Level Results

“Achieving Great Place to Work recognition is a testament to the incredible spirit of our iib Cabo Verde family. This milestone belongs to each of you – thank you for making iib Cabo Verde extraordinary. Let’s continue building greatness together!”

Joseph Carasso Junior, CEO – iib West Africa

Great Place To Work ® is the global authority on high-trust, high-performance workplace cultures. Through proprietary assessment tools, advisory services, and certification programs, Great Place To Work ® recognises the Best Workplaces™ across the world in a series of national lists including those published by Fortune magazine (USA) and in leading media across the Middle East. Great Place To Work ® provides the benchmarks, framework, and expertise needed to create, sustain, and recognise outstanding workplace cultures.

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Financial literacy is a universal key to unlocking the doors of success for individuals and entrepreneurs alike. It’s a vital skill that empowers people to make informed financial decisions and shape their economic destinies. In today’s fast-paced and ever-changing financial landscape, being financially literate is not just an option; it’s necessary for anyone looking to embark on an entrepreneurial journey. In this article, we will explore the transformative power of financial literacy and how it can take you from debt to wealth on your entrepreneurial path, by addressing the example of the International Investment Bank Cabo Verde (iibCV).

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The international investment bank, S.A. (iibCV) is proud to announce its support for the Eugénio Tavares Elementary School, in Achada Santo António, through a donation of computer equipment, which allowed the creation of a multimedia space.

This initiative resulted from a request for support from the Directorate of Group III of the Ministry of Education, with the aim of rehabilitating the ICT component of the school library, enabling 5th and 6th grade students to consolidate their knowledge through research, work and practical activities.

This project, in line with our sustainability and social responsibility policy, aims to promote digital inclusion and develop technological skills from primary school onwards.

We are convinced that, by providing an enabling and innovative environment, we are opening doors to learning experiences that will make a difference.

At iibCV, we believe that investing in digital inclusion is investing in building a fairer and more egalitarian society.

iibCV Makes It Different, to Make a Difference!

The international investment bank S.A. (iibCV) has once again joined the Blood Bank of the Agostinho Neto University Hospital (HUAN) for the 6th Edition of our Blood Donation Campaign!

We are deeply grateful to our collaborators, the HUAN team and, of course, all the donors who have joined us in this noble mission. Your contribution makes a difference and helps save lives.

Banco Sangue HUAN
iibCV Make a Difference to Make a Difference!

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London, UK – June 25th, 2024 – iibanks is thrilled to announce that Mr. Sohail Sultan, CEO of iibanks, has been Awarded CEO of the Year in the Finance Industry by European CEO. This prestigious recognition underscores Mr. Sultan’s exemplary leadership, vast experience, and significant contributions to the financial sector.

The judging panel at European CEO was particularly impressed with Mr. Sultan’s extensive and distinguished career in the financial services industry. Sohail has 30 years of experience in financial services, acquired at leading multinational financial institutions.

“I have also been asked to pass on to you that in doing their due diligence and making their final decision, the judging panel were immensely impressed with Mr. Sohail Sultan in multiple ways,” the European CEO panel stated.

“Firstly, with Mr. Sohail Sultan’s immense and impressive high-level experience within the financial services sector, including starting his career at Citibank here in London, and subsequently reaching the position of not only the Head of Global Product Development for Financial Institutions but also the Head of Structured Finance for the Asia Pacific.”

Beginning his career at Citibank in London, Mr. Sultan quickly rose through the ranks to become the Head of Global Product Development for Financial Institutions, Head of Structured Finance for the Asia Pacific, and Head of Cross Border European Structured Product Arbitrage within six years. His roles included managing processes and risks, driving revenue, innovating products, and executing deals across Europe, the Americas, Africa, and the Far East.

Subsequently, Mr. Sultan worked at Barclays Capital in London for nine years, holding senior positions, including Managing Director. During his tenure, he was responsible for expanding the company’s Structured Capital Markets business beyond the UK into North America, Europe, and Asia Pacific.

Following his time at Barclays, he provided advisory services for private equity infrastructure projects in South Asia, the Middle East, and the UK at Cobussen and Partners, developing a portfolio of structured investments with private and institutional investors.

“The judging panel were also delighted to know that Mr. Sultan, in his 30 years of experience, has held senior positions at Barclays Capital, including Managing Director, along with working at Cobussen and Partners, where he provided expert advisory services,” the statement continued.

The panel highlighted Mr. Sultan’s continued demonstration of leadership, his achievements, and his ambition for iibanks’s expansion as crucial factors in their decision. “From the judging panel’s point of view, the leadership Mr. Sohail Sultan continues to demonstrate combined with his experience, achievements, and ambition for the group when it comes to expansion were important factors that the other shortlisted candidates could not compete with.”

This recognition by European CEO is a testament to Mr. Sultan’s dedication and the innovative spirit he brings to iibankss. His leadership has been pivotal in driving the company’s growth and success in an increasingly competitive financial landscape.

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