Archive for the 'Mali' Category

BRVM investment open days – 14 March Johannesburg

BRVM in Abidjan (photo Tom Minney African Capital Markets News)

One of the world’s most successful regional stock exchanges, linking eight West African countries with a stable currency and fast growth, will come to South Africa to outline investment opportunities. The Bourse Régionale des Valeurs Mobilières (BRVM), headquartered in investment destination Côte d’Ivoire, will meet South African fund managers and market experts on March 14 at “BRVM Investment Days in Johannesburg”. This exclusive investor forum is part of a global 2018 BRVM roadshow.

Edoh Kossi Amenounve, CEO of the BRVM, will outline strategic developments on the exchange, including: investor-friendly trading and disclosure, working with London and Casablanca stock exchanges to boost growth companies in the region, and a board for mining companies after big discoveries in the region.

Other speakers are:
• Dominic Bruynseels, Regional CEO West Africa for Standard Bank, which sees the potential for growth in the West African Economic and Monetary Union (WAEMU) region and opened its first branch in Côte d’Ivoire in August 2017
• Samira Mensah, Associate Director of Standard & Poor’s Global Ratings, with an overview of banks in the region as well as fixed income and other securities
• Michael Barnes, Head of Sales and Trading at stockbroker African Alliance, one of the leading South African stockbrokers for trading on the BRVM exchange.

The speakers will share insights on the economies – the IMF forecasts growth at 6.5% or 6.6% a year across the region until 2021 – and on sectors, shares and key investment themes. It is a unique opportunity for South African institutions to learn more about the potential of Africa as regional links become stronger.

WAEMU combines eight West African countries with a population of 110 million: Benin, Burkina Faso, Côte d’Ivoire, Guinea Bissau, Mali, Niger, Senegal and Togo. WAEMU shares a single currency, the CFA franc, which is linked to the value of the euro (EUR), and a single central bank and capital markets regulator.

Mr Amenounve says: “South African investors are taking increasing interest in the opportunities in Africa as the world’s long-term growth story. The West African region offers fast, diversified growth and interesting lessons on regional development and economic linkages. In our countries, demographics, development, technology and increasing productivity all offer opportunities and the regulated exchange market offers liquidity and support to investors.”

The BRVM has 45 listed companies and is Africa’s sixth biggest exchange in terms of market capitalization with $12.5 billion in shares listed at end December 2017, plus 32 government and corporate bonds and five sukuk. To register online, please visit www.brvminvestmentdays.org.

Contact person for all event-related questions: Ms. Aziza Albou Traore ceo@azmediaagency.com Tel: +1 646 3772178
For any event-related or media enquiries, please contact: Ms. Glynis Loizeau: glynis@azmediaagency.com Tel: +33-6-83-48-75-85

This event is organized by AZ Media Agency www.azmediaagency.com
Twitter @BRVM_UEMOA #BRVMInvestmentDays

Cauris private equity books into West Africa hotel growth

A West Africa private equity fund, Fonds Cauris Croissance II, says it will invest 4 billion FCFA (XOF, equivalent to $8 million) in Azalaï Hotels to fund an ambitious expansion programme in the region. The investee company, Azalaï Hotels (www.azalaihotels.com), operates 6 hotels in Benin, Burkina Faso, Guinea Bissau and Mali and is expanding into new countries, including Côte d’Ivoire, Guinea Conakry and Senegal.
Azalaï Hotels is to start building a hotel in Côte d’Ivoire in January 2013 and plans to open late in 2014. The company began operating in 1994 in Mali and has expanded its presence into 4 countries through opening or acquiring 3- to 5-star hotels, according to a press release.
Fonds Cauris Croissance is managed by West African fund manager, Cauris Management (www.caurismanagement.com).
Cauris Investment, the first fund managed by the same manager, previously invested with the Azalaï Hotels group in 1998 to finance the construction of a hotel in Mali and the first regional expansion. Cauris Investment exited in 2006.
Commenting on this new investment, Mr. Mossadeck Bally, founder and CEO of Azalaï Hotels said: “The partnership between Cauris and Azalaï Hotels is a sign of mutual respect between our institutions. Cauris is the private equity institution that best understands the specificities of local entrepreneurs while following its own requirements for commercial returns. After a first mutually beneficial partnership, it is with pleasure that we will enjoy again Cauris’ experience both in hotels and in other sectors.” Azalaï Hotels says it is the first locally owned hotel chain in West Africa to offer services at international standards.
Noel Yawo Eklo, CEO of Cauris Management, said in the press release: “After a first positive experience, we think it is important to support Azalai Hotels in its development programme, especially now that it is about completing the regional mapping and strengthening the profitability of a group composed of very seasoned professionals. The hospitality sector is a difficult one to operate in globally, but it is rewarding as it also creates much-needed jobs”.
Private equity fund manager Cauris Management has been active in West Africa, mainly the francophone countries, for over 15 years. Cauris Management has invested in 42 companies and exited 35 in its target region. The investment portfolio has included agribusiness, financial services, hospitality, telecoms, consumer goods, and downstream oil and gas.
Earlier this year, in March-June, Cauris exited its stake in Petro Ivoire, a downstream oil and gas operator in Cote D’Ivoire, according to this report on Private Equity Africa. The deal was structured as a management buy-back and generated annualized returns of 23% for Cauris which first backed the company in 2006 in a CFA2.2bn deal in partnership with Africinvest. The company was expanding into bottled gas. During the five years the investors were involved, Petro Ivoire grew its network of petrol stations by 33% and is thought to be the third largest operator, and to have 19% of butane gas market after investing in a butane gas filling plant in 2007.