The Renaissance Capital, an emerging markets & frontiers investment bank has called on investors to commit more funds to develop the Nigerian economy.
Igor Vayn, chief executive officer of the financial institution, said this during the company’s 5th annual pan-Africa investor’s conference. He said investors should explore the opportunities of the progress achieved by the Nigerian economy in order to position their investments for a huge growth for the next decades.
Vayn disclosed that several investors with interest in Nigeria approached Renaissance Capital last year, requesting details about development; hence there is a positive change in mindsets of investors about the continent’s economy. “In the mid-2000s, we were confident Africa would become one of the most promising points on the world’s economic map; and after eight years of building our business in Nigeria, South Africa and Kenya, we are still confident we made the right decision. Considering the pace of its economic growth, it is not something we have to see just the present, the future holds bigger promises,” the Renaissance Capital boss added.
Yvonne Ike, chief executive officer, West Africa arm of the bank, agrees with Vayn and encouraged local partners to embrace international partnership, stressing that the continuous moves would help in developing local contents.
She projects that the company’s next strategy will focus on working with local investors, particularly in the information technology space. “This is an ample opportunity for local contents development; for Africans to acquire necessary skills to drive the economy. For us at Renaissance Capital, we are focusing
on promoting African markets,” she said.
The annual conference hosted about 400 guests, including 200 investors representing both global and frontier funds, along with senior management from Africa’s largest corporate organizations.