Tuesday, May 29, 2012

EA pension funds, insurance firms meet to boost investment next month

14th April 2010
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Officials from Tanzania pension funds, insurance companies and other long term investors are among East African executives who will meet in Nairobi, Kenya next month to discuss opportunities for investment in private equity
A statement issued by four institutions said that besides Tanzania, other representatives would come from Kenya, Rwanda, Uganda and Burundi.
It said that the meeting organised by the Commonwealth Secretariat, African Development Bank, African Venture Capital Association and Aureos Capital is scheduled from May 18 to 19, 2010 and would also bring together representatives from regulatory bodies and other stakeholders.
"Sub-Saharan Africa is one of the biggest growth stories in emerging markets private equity," said David Ashiagbor, an economic adviser at the Commonwealth Secretariat.
Ashiagbor added that fundraising activity by private equity fund managers in sub-Saharan Africa almost tripled from USD800m in 2005 to over USD2.2bn in 2008, and reached USD1bn in the first half of 2009.
Martin Poulsen, Chief Private Equity Officer of the African Development Bank, co-sponsor of the meeting, noted that the growth in fundraising has been led by development finance institutions, international commercial banks, pension funds and even private investors.
"Raising funding from African institutional investors companies remains a challenge. This needs to be addressed - and we hope this roundtable will help to unlock the untapped potential from African investors," he said.
He said specifically, the Nairobi meeting aims to introduce participants to private equity as an asset class, familiarise participants with the private equity industry in Africa and provide the opportunity to meet with fund managers, investors and other stakeholders, and provide them with an understanding of the structure of private equity funds, operations and governance.
Among the speakers include participants from the International Finance Corporation (IFC), Washington DC, CDC Capital Partners, London, South Suez Capital, Johannesburg and, the Emerging Markets Private Equity Association (EMPEA) based in Washington DC.
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SOURCE: THE GUARDIAN

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