News Column

AVCA Set to Deepen Private Equity

February 17, 2014



The African Private Equity and Venture Capital Association (AVCA) is aiming to deepen Nigeria's private equity sector.

Speaking on the forthcoming conference of the association with journalists in Lagos, Chief Executive Officer of African Capital Alliance, Okey Enelameh, said this year's conference is focusing on private equity because of its usefulness to economic growth.

He said private equity and venture capital plays a crucial role in financing the Small and Medium Enterprises (SMEs) sector, which is the engine of economic growth the world over.

He noted that private equity fund managers play a key role in helping management to establish governance structures and growth plans, leading to more sustainable businesses.

He stressed that by nature, private capital in Africa is chiefly growth investment, unlike the typical perception of private equity in more developed markets, adding that "it is an essential provider of jobs and boosts local economies."

Speaking on imperative of private equity, Enelamah said with reported investment figures increasing to close to $3 billion in 2013, private capital in Africa supports hundreds of local businesses looking to build to their potential.

Also speaking at the briefing, co-founder and Chief Executive Officer of Alitheia Capital, Tokunboh Ishmael, said one of AVCA's key remits is to provide leading industry research to support the private capital ecosystem in Africa.

At its upcoming conference, AVCA is launching the first ever pan-African limited partner survey focused on private equity, which will appraise the sentiment of investors from across the globe and the continent on private investment opportunities in Africa.

She said AVCA is also working with the Rockefeller Foundation to launch a report on Impact Investing in Africa, which will contribute to the global impact investing dialogue by looking at the policy barriers across Africa, as well as explore the policies that encourage the growth of the industry for the ultimate benefit of poor or vulnerable communities.

She affirmed that, the 11th annual AVCA conference to be held in Lagos between March 31 and April 2,will showcase distinguished speakers who include the Minister of Industry, Trade and Investment, Segun Aganga, Head of Emerging Market Fund Investment of Abu Dhabi Investment Authority, Christopher Florin, Director of Private Markets of Exelon Corporation, Francis Idehen among others.

The AVCA annual conference provides the private equity and venture capital industry in Africa with platform to discuss the most pertinent opportunities and issues of the year.


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Source: AllAfrica


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