The Renaissance Capital, an emerging markets and 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, explained during the company’s 5th annual pan-Africa investor’s conference, that investors should explore the opportunities of the progress achieved by the economy of the West African state in order to position their investments for a huge, growing story for the next decades.
Vayn disclosed that several investors with interest in the country 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 the local contents. She projects that investors’ next strategy will focus on working with local investors, particularly in the information technology space. 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.