15 May 2019
Renaissance Capital restates commitment to Africa, hosts 10th annual Pan-Africa 1:1 investor conference in Lagos

15 May, Lagos, Nigeria - Renaissance Capital, a leading emerging and frontier markets investment bank, has launched its 10th Annual Pan-Africa 1:1 Investor Conference in Lagos today, following bespoke investor trips to Accra (Ghana) and Abuja (Nigeria) earlier this week.

The 10th anniversary investor conference is an opportunity to underscore the importance of diversifying the Nigerian economy, highlight ways that diversification can be achieved, and restate Renaissance Capital’s long-term commitment to Africa. It also serves as a platform to hear first-hand from prominent government officials, business leaders and economists in the region, alongside Renaissance Capital analysts, who will share African insights and present high-opportunity corporate stories during the conference.

In the closed-door 1:1 meetings, between top global and local investors, 30 corporate representatives are able to discuss investment opportunities in Nigeria and other fast-growing economies on the African continent.

In her keynote investor address at Renaissance Capital’s 10th Annual Pan-Africa 1:1 Investor Conference, Yewande Sadiku, Executive Secretary/CEO, Nigeria Investment Promotion Commission reiterated the Federal Government’s commitment to progressively improving the business environment in Nigeria. Since Nigeria’s long-term growth potential remains compelling, she urged investors to continue to keep it in their portfolios.

She reminded the investors that NIPC was created as the friend of investors in government and solicited support of professionals such as Renaissance Capital in advocating for policy changes that are better aligned with investor expectations.

While giving the opening remarks, Temitope Popoola, CEO, Renaissance Capital Nigeria identified the impending swearing-in ceremony of elected leaders in Nigeria as an opportunity for a new start.

“This is the right time to begin to focus on policies that will deliver inclusive growth in the next four years. We believe that diversification from oil dependency is inevitable given how little oil Nigeria exports per capita. To fully unlock Nigeria’s economic potential, some structural constraints must also be removed: adult literacy needs to improve to 70-80%, electricity consumption needs to treble and investment needs to double from 13% of GDP in 2017 to at least 25%,” Popoola said.

Christophe Charlier, Chairman of the Board, Renaissance Capital said: “The key takeaway from this conference is that investors focus too strongly on the risks, often missing the chance to turn some of the country’s key challenges into viable prospects. Opportunities abound, and Renaissance Capital remains committed to Nigeria and West Africa, which is evidenced by the Firm’s growing share of market and deal pipeline.”

As of FY18, Renaissance Capital is a number-two brokerage in Nigeria by market share, and successfully placed a debut USD450mn 9.50% five-year Reg S/144A bond offering for Ecobank Transnational Incorporated (ETI) as a Joint Lead Manager & Joint Bookrunner in April 2019.