Investors managing over Sh100 trillion assets converge in Nairobi

From Left to Right: Paul Kavuma, Chief Executive Officer, Catalyst Principal Partners, Chris Kirubi, Director, Centum, Dr. Donald Kaberuka, Chairman and Managing Partner, SouthBridge, Michelle Kathryn Essomé, CEO, African Private Equity and Venture Capital Association, CS of Trade Peter Munya, James Mworia, Group Chief Executive Director, Centum Investment and ‘Tokunboh Ishmael, AVCA Chairperson, and Co-founder & MD of Alitheia Identity

NAIROBI, KENYA: Cabinet Secretary Peter Munya on Tuesday officially opened the African Private Equity and Venture Capital Association’s (AVCA) 16th Annual Conference in Kenya

The event is playing host to the top 400 private equity leaders as they discuss the most critical topics shaping the investment landscape in 2019. 

CS Munya highlighted Kenya’s attractiveness as a destination for private investment and status as East Africa’s private capital hub.

“The government has made significant progress in improving the ease of doing business and we encourage the private sector to take the lead in the growth of the economy, notably in the Big Four priority areas”. 

This topic was elaborated on during a panel with Berhane Demisse, Co-Founder & Managing Partner, Cepheus Growth Capital Partners, and George Odo, Senior Partner & Managing Director, AfricInvest who noted that “East Africa’s fast-growing consumer markets are fuelling significant investor interest and driving inflows of capital.” 

A panel with Matthew Hunt, Principal, South Suez Capital, and Angela Miller-May, Chief Investment Officer, Chicago Teachers’ Pension Fund highlighted the continent’s attractive growth prospects, with the latter adding “as individuals at the forefront of private capital in Africa, we witness the vast opportunities that can be capitalised on. Our role is to demystify perceptions of Africa and drive sustainable and structural change across the region.” 

American institutional investors including executives from the New York State Insurance Fund, Teachers’ Retirement System of the State of Illinois and the Board of Education Retirement System of the City of New York also discussed their perspective on opportunities in Africa.

Papa Madiaw Ndiaye, Chief Executive Officer & Founding Partner, AFIG Funds said: “African private equity can generate significant returns and diversify portfolios while bringing about the kind of positive impact our members want to see.”

Discussing venture capital, Maurizio Caio, Founder & Managing Partner, TLCom commented: “Africa’s venture capital ecosystem is in full swing and the future looks bright for the continent’s next unicorns.” Speakers from leading DFIs including, BIO, CDC group, DEG/KfW, FinDev Canada, FMO, OPIC, Proparco, and the EIB reiterated their commitment to the continent while Samia Tnani, Head of Credit, AfricInvest shed light on private credit, noting that it constitutes a promising asset class that has the potential to transform the SME segment. 

Michelle Kathryn Essomé, Chief Executive Officer, AVCA, added: “We are happy to have convened so many of the key decision makers at our landmark annual conference. As we’ve heard from a diverse group of speakers encompassing LPs, GPs, and our Kenyan hosts, the future is bright for private equity in Africa and we are proud to play a role in contributing to the industry’s long-term growth.”