‘The time is now’ for private equity investment in Africa and ‘the continent is ready’ were the messages from the third annual Private Equity in Africa Leadership Summit, co-hosted by the Emerging Markets Private Equity Association (EMPEA and the Financial Times publication, This is Africa.
Over 300 delegates from 30 countries were addressed by speakers including Babatunde Raji Fashola, Governor of Lagos State; Tendai Biti, Minister of Finance, Zimbabwe; pensions representatives from Ghana, Botswana, Kenya, and Nigeria; regulators from South Africa and Brazil, as well as leading African fund managers and global institutional investors. Sharing the sentiment in Governor Fashola’s opening remarks—“Returns are attractive, the possibilities are endless and we are ready”—presenters noted that government leaders and regulatory decision makers across the continent recognised private equity’s success in bringing companies to scale, creating jobs and developing infrastructure, and were actively considering ways of encouraging flows of capital, both international and domestic, into private equity.
Commenting on the standing room-only attendance and interactive Q&A sessions, Sarah Alexander (pictured), President and CEO of EMPEA, says: “It’s clear from our Private Equity in Africa Leadership Summit that investors are clamouring for information and seeking a better understanding of the opportunities in the continent. It is also promising that African leaders and regulators are beginning to recognise the long-term economic impact of private equity and are encouraging investment. EMPEA <http://www.empea.net/> will continue to play a key role in working with government and industry leaders, regulators and investors to facilitate a better understanding of the asset class and the opportunities in Africa.”
Further deepening the representation of African private equity investors among the industry body’s global leadership, EMPEA announces the appointment of Okechukwu (“Okey”) Enelamah, founder and Chief Executive Officer of Lagos-based private equity firm African Capital Alliance, to its Board of Directors.
Commenting on Enelamah’s appointment, EMPEA Chairman Jeffrey Leonard, says: “Africa plays a big part in the emerging market private equity story, and we are fortunate that such an experienced and committed individual will help EMPEA further serve the needs of our growing and dynamic member community.”
Enelamah says: “I am honoured to be joining a Board of such dedicated industry leaders and I look forward to supporting EMPEA in its mission to further promote private equity investment in the Africa region in particular.”
