Cape Town event will facilitate further intra-African investment and deepen RenCap footprint across continent
Cape Town, 18 April 2017 – Renaissance Capital, a leading emerging and frontier markets investment bank, is set to hold its second annual Egypt Investor Conference, which will take place in Cape Town, on 24-25 April 2017. The event follows on from the hugely successful inaugural conference, which was also held in Cape Town, in April 2016.
As per last year, the event offers a unique access for South African investors to senior management of Egypt's leading companies from the consumer, manufacturing, banking, real estate, energy, cement and transportation sectors. Recent years have seen South African funds increasingly look to Egypt and, following last year’s well-received IMF agreement with Egypt, this exclusive access event will seek to facilitate even further intra-African investment.
In addition to expediting cross-border relationships across Africa, Renaissance Capital recently launched electronic access to the Johannesburg Stock Exchange (JSE), in South Africa. The JSE is the oldest and largest stock exchange in Africa, with volumes which make it a strategically attractive factor for both long-only funds and high-frequency trading customers. The firm has also been repeatedly named as one of the top two traders on the Nairobi Stock Exchange.
Ahmed Badr, Chief Executive Officer, MENA, Renaissance Capital, commented: “Over the past year we have continued in our efforts to develop a Pan-African platform, strengthening ties and economic ventures between a number of different nations across the continent.
“The relationship between Egyptian companies and investors from South Africa have continued to grow in recent years, clearly evidenced by the fact that Egypt remains the most popular African investment destination for South African investors. Last year’s event was an outstanding success and again we have already registered keen appetite from senior fund managers across South Africa to meet the leading Egyptian corporates. Cross-border investment prospects are furthered by the establishment of working relationships and the Egypt Investor Conference aims to do exactly that.”
Renaissance Capital, the second largest foreign broker in Egypt in terms of turnover in 2016, expects Egypt’s recovery from recent events to come sooner than expected. The firm also predicts the country’s growth to be 3% this fiscal year and to double to 6% in the next three fiscal years starting in 2017/2018, which is above IMF expectations and providing ample opportunities for investors.