Databank Financial Service, Standard Chartered Bank, United Bank for Africa, Stanbic Uganda and the Nigeria Stock Exchange have been nominated to compete for awards.
The competition, being organised by the Africa Award Investor Index Award, will take place at the London Stock Exchange on June 8, 2007.
The organisers recognise stock markets, listed companies, fund managers, stockbrokers and analysts in Africa.
African stock exchanges have provided impressive dollar returns for investors over the last few years.
As African economies rebound, there is increasing interest in developing Africa's capital markets to accelerate development.
The ceremony will attract leading fund managers, investment banks, executives of Stock Exchanges, Chief Executive Officers of African listed companies and members of Africa's financial community.
The awards ceremony is designed to coincide with the final day of the G8 summit, and will speak to the recommendations of the summit, with regard to investment in Africa. The awards will also coincide with London Stock Exchange Nigeria Capital Markets' Day in London.
Leading financial institutions are set to compete as they focus on the economic growth of Africa. Companies such as Citigroup, Standard Bank Group and JP Morgan have highlighted the potential of Africa and are investing in the continent in an unprecedented fashion.
The Ai Index Awards are the only international Pan African awards that recognise and reward institutional investors, stock exchanges, corporate governance and economic achievements across the continent.