Renaissance Capital, a leading emerging and frontier markets investment bank, held its North Africa Investor Conference on 9-10 April 2019 in Cape Town, South Africa.
The conference was attended by Egypt’s leading corporates from a variety of sectors, including consumer, healthcare, banking and financial services, manufacturing and real estate. They conducted around 150 one-on-one meetings with top South African and international institutional investors with total assets of c. $20bn.
The event opened with a keynote address by Mr Mohamed Farid Saleh, Chairman of the Egyptian Stock Exchange, on the perks of investing in the stock market.
Mohamed Farid Saleh, Chairman of the Egyptian Stock Exchange, said: “The paradigm shift in the Egyptian economic policy took place during the last few years, within the context of stabilization and structural adjustment program, and has accelerated the GDP growth rate and increased foreign currency reserves. The Egyptian Exchange (EGX) played a significant role in developing and updating the Egyptian capital market to maintain its role as a pillar of the Egyptian economic reforms.”
He added: “From a value chain perspective, EGX efforts aimed to improve the supply-side of the market, increase the level and quality of disclosures, increase communication channels between listed companies and investors, as well as facilitate trading and implementing new trading tools. Whereas, on the demand-side EGX worked on increasing the level of financial culture and awareness to attract more investors, promote EGX as an incremental long-term saving vehicle to profit from the development of companies’ performance and distribute economic growth fruits among the highest number of investors.”
One of the conference speakers, Rob Hersov, CEO & Founder, Invest Africa, noted: “Our beloved continent of Africa has had a lot of false starts and new dawns, but keeps scoring “own goals” (there are a few shining exceptions) mainly due to bad governance/leadership – will Africa always be the Continent of the future? Will the big economies like South Africa, Egypt and Nigeria continue to disappoint? For our children, I hope not!”
Ruslan Babaev, Co-CEO, Renaissance Capital, commented: “Renaissance Capital is holding its conference against the backdrop of major developments in the region. A true reform-driven story, Egypt is attracting investors: in 2018 alone, it received $7.9bn in FDI, more than any other country in Africa. The marked improvement of the economic and fiscal situation has triggered a 450-fold increase in foreign ownership of local debt, from $0.1bn in late 2016 to $17.0bn in mid-2018. Renaissance Capital is set to further expand our capabilities in the region to deliver best-in-class services to our clients.”
Anna Vyshlova, Co-CEO, Renaissance Capital, added: “Egypt has popped up on radars of many investors around the world most recently, while Renaissance Capital began paying serious attention to the region back in 2014. Our bullishness on Egypt only increased through 2017-2018 as our analysis of adult literacy and electricity consumption showed that the country had become able to industrialise from as early as 2010, and therefore grow at 4-6% on a per-capita basis. With a population of over 100mn, and an improving economic outlook, we find that the consumer-space, such as food, healthcare, and retail sectors, is where investors should seek opportunities. Renaissance Capital is always delighted to host investors and corporates at our conferences and facilitate networking and investment flows.”
Renaissance Capital provides access to a broad high-quality investor base around the globe via its regular conferences and bespoke trips and roadshows. Last year, Renaissance Capital’s five conferences hosted 280+ investors and c. 100 companies, with well over 1,000 one-on-one meetings. The Firm arranged over 15 dedicated investor trips to Egypt, Kenya, Nigeria, South Africa, Russia and Turkey and over 40 deal and non-deal roadshows.
The upcoming events on the Firm’s investor calendar will be the 10th Pan-Africa 1:1 Investor Conference in Lagos, Nigeria on 13-17 May and the 23rd Annual Russia Investor Conference on 24-26 June in Moscow, Russia.
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About Renaissance Capital
Renaissance Capital is a leading emerging and frontier markets investment bank providing access to 50 markets across the globe, with operations in Africa, Central and Eastern Europe, North America and Asia. Founded in 1995, the Firm has established market-leading positions in each of its core businesses – equity and debt capital markets, M&A, markets business division, including equity & equity derivatives, fixed income, FX & FX derivatives, commodities and REPO & financing; as well as research and prime brokerage. It has one of the largest EEMEA distribution and execution platforms, with Sales and Trading teams present in London, Moscow, New York, Johannesburg, Cape Town, Lagos, Nairobi and Cairo. Renaissance Capital is owned by ONEXIM Group. For more information, please visit www.rencap.com/eng/.
Renaissance Capital published its IFRS financial results for the first half of 2018 (ending 30 June 2018) on 3 October 2018. During the reporting period, net profit increased by 35% YoY to USD7.5mn. Operating income grew by 6% YoY USD78.5mn.
Renaissance Capital was named as the Most Innovative Investment Bank in Emerging Markets in 2018 by The Banker’s Investment Banking Awards. The Firm also recorded an impressive set of results in the 2018 Extel Survey for the third consecutive year, with strong placings in a range of categories for individual analysts and the Firm overall. In the 2018 Financial Mail awards for African equity research, the Firm’s local team was ranked fourth, and individual analysts achieved top positions in their respective categories. The Global Finance magazine 2018 awards named Renaissance Capital as the Best Bank in Frontier Markets.
For more information, please contact:
Daria Khilenkova
Renaissance Capital
Mobile +7 (916) 805-4926
DKhilenkova@rencap.com
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