Renaissance Capital (www.rencap.com/eng), the Russian emerging-markets bank with operations in Africa, plans to expand next year into Egypt and at least 3 other African countries, according to a 5 October interview published on Bloomberg.
Leading African private equity house Citadel Capital has this week announced 2 cement deals. Citadel was recently named “African Business of the Year” at a gala awards ceremony organized by “African Business” magazine. It is based in Cairo and listed on the Egyptian Stock Exchange (ticker CCAP.CA).
Private equity firm Citadel Capital, with $8.3 billion in investments, has won the title of “African Business of the Year” at a gala awards ceremony organized by “African Business” magazine in London on 21 June. Other finalists included South Africa’s De Beers, Kenya’s Safaricom, pan-African bank Ecobank and Kenya’s Bidco Oil Refineries.
The brand new Nile Stock Exchange (www.nilex.com.eg) saw strong trading appetite on 3 June, its first day of trading. NILEX is an initiative of the Egyptian Exchange (EGX – www.egyptse.com) and aims to support growing medium and small enterprises in the Middle East and North Africa region.
Egypt-based private equity fund Citadel Capital is to open an East African office in Nairobi during January. Citadel says it is independently ranked as Africa’s largest private equity firm
The recently formed Egyptian Financial Supervisory Authority (www.efsa.gov.eg) is tightening regulation for listed companies and other financial market intermediaries. It is working with the Egyptian Stock Exchange (www.egyptse.com) to combat insider trading and improve disclosure, including urging better investor relations skills. Good regulation is critical to attracting local and foreign investment.
Private equity and venture capital opportunities in Africa, billed “the world’s fastest-growing continent”, are on the agenda of the African Venture Capital Association (AVCA) 8th Annual Conference (http://www.avcaegypt2009.com).
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