Mobile telephony operator Safaricom and Equity Bank bagged continental awards for their contribution in propelling investment in Kenya. The two firms joined East Africa Breweries Ltd and Nation Media Group in winning recognition across Africa during the annual African Investor Index (AI) awards held at the New York Stock Exchange.

But it was Safaricom's Sh50 billion initial public offer in June, and Equity Bank's unique retail banking model that stole the thunder.

The Safaricom IPO, the largest in Sub-saharan Africa to date put Kenya on the investment radar of international fund managers, at a time when global markets are showing signs of overheating. The IPO brought in 870 000 new investors to the Nairobi Stock Exchange, a vast majority of who were retail investors.

The judging panel drawn from capital markets executives declared Safaricom's listing as the Best African IPO on account of IPO's size, the percentage of stock floated as well as access to retail investors.

Equity Bank, which targets Kenya's majority rural and low income earners, provides affordable banking services for a segment considered by mainstream banks as high risk. With 2.7 million bank accounts in operation, Equity Bank currently accounts for over half the accounts in Kenya's banking sector.

The awards recognise stock markets, regulators, listed companies, fund managers, stockbrokers and analysts of African equities.