Lagos, 19 May 2011 – Renaissance Capital, the leading emerging markets investment bank, opened its 2nd Annual Pan-Africa Investor Conference in Lagos, Nigeria, today; bringing together more than 200 institutional investors, corporate executives and senior government officials for three days of one-to-one meetings and lively debate.
The conference was opened with a keynote address from Renaissance Capital CEO Stephen Jennings. He was joined by former President Olusegun Obasanjo, and representatives of Finance Minister Olusegun Aganga and Central Bank Governor Lamido Sanusi. The conference is focusing on introducing local African and international investors to listed and pre-IPO companies across the continent. More than 800 one-to-one meetings will take place between African companies seeking capital and prospective investors.
In his keynote address, Stephen Jennings said:
“I think it is probable that in the coming decades large parts of Africa will outpace the growth enjoyed by Asia. In the 1950s and 60s it was Asia that was considered the over-populated, politically incompetent, war-riven basket case. Its hard to imagine now, but in 1970, per capital GDP in China was less than that of Africa. The catch up between Africa and Asia can spur economic growth which can be just as transformative for Africa as it has been for Asia. Already the IMF expects Liberia, Ghana, Ethiopia, Botswana, Mauritania, Angola, Tanzania, the DRC, Uganda, Niger, Libya, and Mozambique to be amongst the 25 fastest growing economies in the world over the next 5 years.”
Former President Olusegun Obasanjo formally opened the conference and said:
"After many years of economic immobilism, the continent’s economies experienced a marked acceleration in growth during the past ten years, with real GDP increasing by 5.2% annually, compared with 2.3% in the 1990s. Africa’s economic pulse has quickened, infusing the continent with a new commercial vibrancy. Each sector is treading upward. Be it telecom, banking, retail or construction.”
Renaissance Capital senior management from around the world are attending the event, including Stephen Jennings; Clifford Sacks, Africa CEO; Rotimi Oyekanmi, CEO of West Africa and Renaissance Capital in Nigeria; Hasnen Varawalla, Head of New Markets Investment Banking; and Charles Robertson, Global Chief Economist.
The full version of Stephen Jennings speech is available on the Renaissance Group website at
www.renaissancegroup.com.
About Renaissance Capital (www.rencap.com)
Renaissance Capital is a leading investment bank focused on the emerging markets of Russia, Eastern Europe, Central Asia and Africa. The Firm also offers its clients access to these markets through such as London, New York and Hong Kong. Renaissance Capital has market-leading positions in each of its core businesses - M&A, equity and debt capital markets, securities sales and trading, research, and derivatives. The Firm is building market-leading practices across emerging markets globally in metals & mining, oil & gas and agriculture. Renaissance Capital is part of the Renaissance Group.
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