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Latest on developments in African capital markets

Presentations from the exciting Building African Financial Markets (BAFM) seminar are now available on the Internet. The 6th edition of BAFM was hosted the first time in North Africa by the Casablanca Stock Exchange (CSE) in Morocco on 18-19 May, 2017. The seminars are organized with the African Securities Exchanges Association (ASEA).

The theme of the event was “Global Best Practices to Enhance the African Capital Markets”, I was compere and there were many top presentations which you can download here. It provided a great platform for sharing information and discussing best ways the exchanges can support Africa’s needs for long-term capital.

According to the host, Karim Hajji, Deputy President of ASEA and CEO of the Casablanca Bourse: “The Casablanca Stock Exchange is more than ever before convinced of the important role of African exchanges in mobilizing the means for financing the continent’s growth. BAFM is indeed an opportunity to consider new paths of cooperation and enhance synergies so as to improve the role of Exchanges in financing the African economy.”

BAFM is a capacity-building initiative designed to promote growth in African financial markets. The Casablanca meeting attracted more than 100 delegates from within and outside Africa. There were very many top speakers including: Abimbola Ogunbanjo (First Vice President of the Nigerian Stock Exchange), Ronald Webb (Director – Financial Services, Safaricom Ltd), Riccardo Ambrosini, (Climate Finance Specialist, IFC World Bank Group) and Selloua Chakri (Head of Market Structure Strategy MEA Region, Bloomberg L.P.).
This high-level meeting provided a.

Oscar N. Onyema, President of ASEA and CEO of the Nigerian Stock Exchange, said; “Building the African financial market is our collective responsibility, hence we must seek out knowledge that empowers each of us to remove impediments to the advancement of our market.”

To view the presentations as well as the pictures of the Seminar, please visit http://www.african-exchanges.org/sites/default/files/publications/building_african_financial_markets.pdf and http://www.african-exchanges.org/en/media#contentCarousel/gallery respectively.

Progress of real-estate investment trusts (REITs) in financing Africa

“There are only 32 REITs (real-estate investment trusts) in Africa with South Africa being the largest REIT market having 27 REITs and Nigeria second with 3 REITs listed”, according to Oscar Onyema, CEO of the Nigerian Stock Exchange. He said REITs are only available in 4 countries – Ghana, Nigeria, South Africa and Kenya – and their total value was $29 billion. (TM NOTE: Mauritius and some other markets also list real-estate investment companies under general or other listing regulations, without specific rules for REITs).

Onyema said that the volume of transactions had climbed from $65 million across Kenya, Nigeria and Ghana in 2012 to an estimated $265m worth of transactions in 2015. “This indicates an increasing market as a larger number of investors are beginning to take increased interest and participation in the Real Estate Investment sector.

“Whilst the Nigerian market may not be as developed as other emerging markets such as Mexico, South Africa and Singapore, this asset class has definitely come to stay. Today we have about N40bn ($126.8m) in REITs market cap (capitalization) listed on the NSE and a total of N96b in the construction/ real estate sector of our equity market”.

Minister of Power, Works and Housing, Babatunde Raji Fashola (who was represented by Ayo Gbeleyi, Managing Partner of GA Capital Limited) said Government would use the stock exchange among other tools to raise finance for housing: “It is difficult, if not impossible, for Government to provide all housing solutions given the diverse demands. Best practices in places like the UK, US, Canada and Singapore are stories of a mixture of ownership and rental arrangements.

”In the medium term, we intend to raise more capital outside direct Government Treasury, working with the Federal Ministry of Finance, through Infrastructure bonds, REITS and other forms of real-estate financing instruments, leveraging as most appropriate the platform of the Nigerian Stock Exchange”. Other funding sources include pension funds, private equity funds and the National Housing Fund managed by the Federal Mortgage Bank.

Onyema said the exchange is implementing changes in the reporting and valuation of REITs and other collective investment schemes listed on the NSE, in order “to create a more transparent, liquid and accessible market structure in line with global best practices for REITs”.

Abimbola Ogunbanjo, the first Vice President of the National Council of NSE, said the Nigerian REITs market is largely underdeveloped due to lack of clarity on regulatory issues: “The major challenges facing the REITs industry in Nigeria include restrictive legislation, poor knowledge and understanding of the industry in addition to prolonged bottlenecks created by the Land Use Act of 1978. Nigeria’s Land Use Act is embedded in the Constitution of our country. Thus, any attempt to rectify its inadequacies requires a constitutional amendment which of itself is a major challenge”

The speakers were at a recent conference at the Nigerian bourse to promote real estate investment trusts (REITs in Africa). It was sponsored by Stanbic IBTC Holdings Plc, FSDH Asset Management Limited, PricewaterhouseCoopers (PWC), United Property Development Company (UPDC) Plc, Rand Merchant Bank (RMB) Nigeria Limited, Udo Udoma & Belo-Osagie and Mixta Nigeria. Click for NSE press release and photos.

RETS conference: Photo Nigerian Stock Exchange.

Private Equity Africa award winners 2017

Congratulations to all the winners and participants of the Private Equity Africa Awards 2017, who attended a glittering night of excellence in finance supporting Africa’s growth. The awards dinner was at the Savoy in London, and the final award-winners were selected by an independent panel of judges (see below) and recommendations from a nomination team at the London Business School Institute of Private Equity. For full details and more photos see Private Equity Africa website and the detailed pages on the awards and speakers.

Winners of 2017 awards were:

  • Limited Partner (LP) Award: CDC
  • Outstanding Leadership Award: Ziad Oueslati, co-founding Partner at AfricInvest. Award presented by Runa Alam, Chief Executive Officer at DPI. This was awarded based on voting by leading industry investors.
  • Venture Philanthropy Africa Award: Helios Investment Partners

House Awards – House of the Year: 

  • Sub-Saharan Africa House of the Year: Development Partners International (DPI)
  • SME Investor of the Year: AfricInvest
  • Credit Investor of the Year: Investec Asset Management

 

Special Recognition: Houses

  • Regional Investor – North Africa: Mediterrania Capital Partners

 

Deal Awards

  • Exit of the Year: Actis for Emerging Markets Payments
  • Large Cap Deal of the Year: Helios for Oando Gas & Power
  • Mid Cap Deal of the Year: 8 Miles for Beloxxi
  • Small Cap Deal of the Year: Apis Partners for Direct Pay Online
  • Credit Deal of the Year: Investec Asset Management with IHS Nigeria

 

Special Recognition: Deals

  • Infrastructure Exit: African Infrastructure Investment Managers (AIIM) for N3 Toll, Trans Africa and Bakwena Platinum Corridor

 

Portfolio Awards – Portfolio Company of the Year

  • Development Impact: Emerging Capital Partners (ECP) for Oragroup
  • Social Impact: Development Partners International (DPI) for HomeChoice
  • Innovation: Quona Capital for Zoona
  • Improvement: Quona Capital for Zoona

 

Advisor Awards – Advisor of the Year

  • Overall Legal Advisor of the Year (Deals & Funds): Clifford Chance
  • Funds Legal Advisor: Webber Wentzel
  • Deals Legal Advisor: Clifford Chance
  • Local Advisor of the year – Legal: Bowmans
  • Local Advisor of the year – Financial: Pangaea Securities
  • Single Deal Advisor – Legal: Bowmans for Tsebo
  • Single Deal Advisor – Financial: KPMG for Tsebo
  • Single Deal Advisor – Infrastructure: Latham & Watkins for Azura Power
  • Single Deal Advisor – Frontier: Grant Thornton for Microcred
  • Fund Administrator of the Year: Abax Services

 

Special Recognitions: Advisors

  • Global Financial Advisor: KPMG
  • Regional Advisor – North Africa: Freshfields Bruckhaus Deringer
  • Exceptional Single Deal Advisor: Aluko & Oyebode.

The awards are an occasion for Africa’s fast-growing private equity industry, focused mostly onto growth equity, to celebrate its achievements and highlight excellence. As a judge, I have been very impressed with the detail, scale and outcomes of some of the deals, which are transformative for many African economies and reflect many months of hard work, inspiration and a wide range of skills including legal, financial and negotiation.

This year’s judges are: Vivina Berla (Sarona), Daniel Schoneveld (Hamilton Lane), Jeremy Cleaver (CDC), John Kristensen (Swedfund), Obinna Isiadinso (IFC), Mark Florman (Listed Private Equity), Dushy Sivanithy (Rede Partners), Gozie Chigbue (CDC), Isaac Gross (Capria), Erika van der Merwe (Southern African Venture Capital Association), Alex Wolf (HarbourVest), Hervé Schricke (Association Française des Investisseurs pour la Croissance – AFIC), Jean-Luc Koffi Vovor (Kusuntu Partner), Matthew Craig-Greene (Family Office Data Alliance), Sunaina Sinha (Cebile Capital), Tom Minney (African Growth Partners), Daniel Broby (University of Strathclyde), Mark Flanagan (Aon Hewitt), Charles Rose (Hainsford Renewable Energy), Gail Mwamba (Private Equity Africa).

Sir Bob Geldof (8 Miles), Spencer Baylin (Clifford Chance), Gail Mwamba (PEA), Afua Hirsch (MC). Photo: Private Equity Africa

Top speakers for BAFM capacity-building seminar 18-19 May


Leaders and movers of African capital markets are heading to Casablanca for the 6th Building African Financial Markets (BAFM) capacity-building seminar on 18-19 May, organized by Casablanca Stock Exchange with the African Securities Exchanges Association and supported by member exchanges.
This year focuses on “Global best practices to enhance African capital markets”. The agenda features CEOs of top African exchanges and other industry leaders: Oscar Onyema CEO of Nigerian Stock Exchange and President of ASEA, Siobhan Cleary of the World Federation of Exchanges, Karim Hajji CEO of Casablanca Stock Exchange, and speakers from Bloomberg, International Finance Corporation, Ethiopian Commodity Exchange, Tanzania Capital Markets and Securities Authority, Securities and Exchange Commission (Nigeria), Safaricom, Kenya Retirement Benefits Authority, Maroclear, and many others.
Topics include: demutualization and growth, what the new US administration means for African markets, financial inclusion, pensions, liquidity, green finance, global principles on IT infrastructure, and regional integration of exchanges in East, West and Southern Africa.
It will be held at Casablanca Most Events Business Center, Anfa Place, Casablanca, Morocco. Don’t miss a great chance to meet the drivers of Africa’s capital markets development. For more, check the Casablanca Stock Exchange website page.

JSE listed ETF offers 15 African exchanges ex-South Africa

A new exchange-traded fund (ETF) offers investors access to an index covering 50 companies across Africa outside South Africa. The AMI Big50 Ex-SA ETF tracks a new index designed by Cloud Atlas Investing, a Johannesburg-based collective investment scheme. It covers shares in 15 African exchanges including Egypt, Mauritius, Kenya, Morocco, Tanzania, Nigeria, Tunisia, Botswana, Namibia, Uganda, Ghana and Zimbabwe, as well as the BRVM Exchange in West Africa.

The ETF was listed on the Johannesburg Stock Exchange on 20 April. Donna Nemer, Director of Capital Markets at the JS, said in a press release: “The JSE is committed to playing a role in the expansion and deepening of Africa’s investment opportunities. This new ETF offers an easy, safe way to invest in African markets and supports the continent’s growth journey.”

ETFs are investments that track the performance of a group or “basket” of shares, bonds or commodities. They can offer tax and cost benefits to some investments, and are good for investors who do not want to pick and choose individual shares, but they are also used by institutional investors. They are regulated by the JSE and the Financial Services Board (FSB) and can be acquired, like any other listed share, through a stockbroker or online trading account, or via an investment platform that offers a monthly debit-order facility.

Maurice Madiba, CEO and Founding Director of Cloud Atlas Investing, said: “We want to improve liquidity and help to develop African markets for investors to feel the full robustness of these markets, and as such, have chosen to invest in stocks that are listed on African exchanges. These could include stocks in multinationals that are listed on African exchanges, as well as local African companies.”

The fund is available for individual and institutional investors. Regulation 28 of the South African Pension Funds Act allows pension funds to invest up to 5% per cent of a fund’s capital in African investments outside South Africa. Madiba explained: “We have received a dispensation from the South African Reserve Bank to offer this ETF to institutional investors according to Regulation 28. We have already opened up the ETF to the retail market, and certainly have plans to bring the institutional investor on board. We believe this ETF is a good product to have for the long-term investor because of its growth prospects, and as such will be of interest to both the individual and the institutional investor. It is important to us that we try to facilitate ways in which Africans can participate in Africa’s growth.”

Nemer adds it offers South African investors a wider opportunity to share in Africa’s growth and “Rand-hedging opportunities.”

According to this report on website ETF Strategy, the fund has certain concentrated exposures including significant country exposure to Morocco (28.4%) and Egypt (19.3%), as well as highly concentrated single holdings in Moroccan telecoms firm Itissalat Al Maghrib (20.6%) and Egyptian bank CIB (11.0%). Other top exposures include Nigeria (13.7%), Kenya (11.0%) and stocks listed on the BRVM Exchange in West Africa (6.3%). The top sector exposures are to banks (29.3%), telecoms (27.9%), food & beverage (17.7%) and industrials (14.6%). (Data as of March 2017). The fund has total fees of 1.17%.

The ETF market has seen steady growth globally as well as in South Africa. There are 53 ETFs listed on the JSE, with a total ETF market capitalization of almost R73 billion ($5.4bn). Several providers offer various indexes on African markets including regional indexes.

Prejelin Naggan, Head of Primary Markets, Johannesburg Stock Exchange and Maurice Madiba, CEO and Founding Director of Cloud Atlas Investing. Photo: JSE

World Exchange Congress 2017: First step – get domestic capital markets right

Here are some key points from the panel on “Alternative exchanges and connecting the African markets: What do you need to know?” at the World Exchange Congress 2017 in Budapest. All are CEOs: Moderator: Hirander Misra, Chairman and CEO, GMEX Group; Thapelo Tsheole, Botswana Stock Exchange; Moremi Marwa, Dar Es Salaam Stock Exchange; Sunil Benimadhu, Stock Exchange of Mauritius.

Q1: How to develop frontier African stock markets? Benimadhu: “We look at what our niche products are, that we do better than others. We list those products on the exchange. Then we think: ‘How we reach out to the world and tell our story?’ We need to make sure trading on our exchange is easy, efficient and meets international standards. Then we can look beyond our borders and ask what does the region need?”

Q2: Should you offer risk mitigation for currencies? Tanzania, Botswana and Mauritius are all open for investors to take their capital out, Mauritius was one of the first African markets to drop exchange control; it was brave as it’s a small economy, but it found the capital flowing in soon became more than the capital flowing out.
Protecting against changes in value of African currencies such as KES and NGN will be very important for attracting foreign investors, for inter-African trade and for trading in derivatives linked to international currencies. Benimadhu – Mauritius (and other markets) are looking at exchange-traded linked products to mitigate currency risk “there is a strong need to come up with a very sophisticated derivatives platform for mitigating currency risk”.

Q3: Inter-African stock-market links? Marwa: “We are harmonizing our trading rules among the 4 markets in the region – Kenya, Tanzania, Uganda and Rwanda – with the help of the World Bank. We are building an infrastructure based in Tanzania combining our automated trading systems (ATS) and central securities depositories (CSDs). In the Southern African Development Community (SADC) we are also making some progress in harmonizing and integrating our markets.
“Investors would rather see us as one big market, instead of small markets. For any issuer, reaching out the whole region will attract wider interest. In Tanzania we are well placed for this and we encourage harmonization and integration.”
Benimadhu “I have seen examples of larger markets and we should learn from that and use their experience. Take the case of Australia and Singapore, they allowed brokers from Singapore to trade in Australia and vice versa to increase order flow. After 10 years they scrapped it, it did not generate expected volumes. Many of the others have also fallen short of expectations. One which is working is Hong Kong-Shanghai but that is for specific reasons, including access to the Chinese market.
“I am a contrarian. I believe linkages make sense, but before doing that it makes sense to grow the domestic market. Open up, attract foreign flows. Don’t spend a lot of time and energy on linkages, but focus first on growing the domestic market. We should follow regional links, but they should not sidetrack us from where we should concentrate, on our own markets”.

IPO for I&M Bank Rwanda extended to 10 March


The extended deadline for the initial public offer (IPO) of I&M bank Rwanda is 10 March. The Government is selling its 19.8% stake in the bank in an offer launched on 14 Feb and originally set to close on 3 March. On offer are 99 million shares at RWF90 ($0.11) each, with a minimum purchase of 1,000 shares.
The offer could contribute nearly RWF8.9bn towards Government plans to raise RWF11.5bn ($13.9m) to build a second airport near Kigali, according to a report in KenyanWallStreet.com. As part of the offer, 5m new shares were created for an employee share offer programme (ESOP).

Prospectus delays
The Ministry of Finance and Economic Planning said it had received enthusiastic investor interest across the region. According to a statement: “This is to ensure that prospectuses and application forms reach investors across the country and the East African region in good time, and in response to requests from retail and institutional investors given the early start to the year, it has been decided to avail additional time to enable investors participate.”
New Times newspaper quotes Shehzad Noordally, the Chairman, Rwanda Association of Stockbrokers and Market Intermediaries: “There has been a slight delay in publishing prospectuses, which is an administrative issue that has been resolved. This has, therefore, resulted in the prospectuses not being distributed on time to the general public”.
I&M Bank, the Capital Market Authority, and the Rwanda Stock Exchange have approved the extension. The shares will be listed on the RSE.
The Government is committed to the development of capital markets as a means to building a strong foundation for long-term financing for both private and public sector, according to Minister for Finance and Economic Planning, Claver Gatete.
Previously Government has sold shares in 2 enterprises leading to listings – Bralirwa (Brasseries et Limonaderies du Rwanda, the largest brewer and beverages company) and Bank of Kigali. The other local listing is Crystal Telecom, subsidiary of Crystal Ventures Ltd, which represents a chance to trade the shares of MTN Rwanda. Crystal Ventures was profiled in the latest issue of The Economist magazine.
I&M Bank Rwanda was established in 1963 and was called Banque Commerciale du Rwanda Limited (BCR) before becoming the Rwanda subsidiary of I&M Bank Group Limited, headquartered in Nairobi, with operations in four countries.

Reasons for privatization

According to an earlier CMA press release, this is the Government of Rwanda’s strategy behind the listings:
“It is the GoR’s objective to encourage investment of shares of successful companies amongst the citizens of Rwanda, and to promote the development of the country’s capital markets. The GoR is pursuing a divesture program of state-owned enterprises, which kicked off in earnest in 1997 with a total of 72 institutions earmarked for privatization/divesture.
The specific objectives of GoR’s privatization /divestiture program entail:
• Reducing the shares held by Government in public companies and thus alleviating the financial burden on its resources (through the elimination of subsidies and state investments) and reducing its administrative obligations in the enterprises
• Ensuring better management and financial discipline in privatized companies
• Attracting foreign investment in Rwanda and the accompanying transfer of technology and knowhow
• Developing and promoting Rwanda’s capital markets and
• To give to the wider public the opportunity to participate in the shareholding of a well-run company”.

Private Equity Africa – 2016 in review

Great speakers and information at the Private Equity Africa 7th annual review and summit, with leaders of the African private equity world outlining key trends of 2017 and reviewing a tough 2016. There were excellent presentations by key speakers including David Cowan, Economist of Citi, Nigel Wellings of sponsor Clifford Chance and Leon Calvert Saunders of host Thomson Reuters.
The panel shared many key insights including the emerging trend to create credit funds. The panel was chaired by Spencer Baylin of Clifford Chance: Runa Alam (Development Partners International), Marlon Chigwende (Arkana Partners), David Damiba (Helios Investment Partners), Mark Jennings (Investec Asset Management), Suleiman Kiggundu (CDC) and Matteo Stefanel (Apis Partners).

Gail Mwamba: Private Equity Africa

Here are highlights from the presentation by Gail Mwamba, of Private Equity Africa, who organized and led the summit. They are the leading publication on private equity in Africa and have just published a very data driven 2016 annual report supported by global data from Thomson Reuters. For more information and the review (subscribers only) check the website.

Different international data sources have different ways of measuring fund-raising, but both show that 2016 was a hard year, particularly for smaller funds with little record. According to Preqin, $1.3bn was raised for Africa funds in 2016, down from $4.6bn the year before. EMPEA, which measures total fund-raising not just closes for sub-Saharan Africa, measured $1.9bn in 27 fund-raising transactions, down from $3.8bn in 31 transactions in 2015. Africa’s share of emerging markets fundraising was 4.5%, down from 8% in 2015. Globally fund-raising was up but emerging markets lost out. Looking at the charts however, 2015 was an exceptional year and the number is closer to the historical trend.

Source EMPEA


Credit fund-raising showed a similar pattern.

source EMPEA

The number of deals picked up, according to Preqin, with about 100 deals valued at nearly $3bn although Mwamba said the real number of deals was much higher was many are not published. Business services continued the most popular transactions, followed by industrials and then consumer. South Africa continued to attract the most deals (31%) while Nigeria won 11% of deals.

Source: Preqin

The 2016 deals by value were influenced a giant deal by little-known Chinese private equity firm, which paid $1.14bn to acquire Lundin Mining Corporation’s 24% stake in Tenke Fungurume copper mine in the Democratic Republic of Congo. Other deals were Wendel Group buying Tsebo Solutions, a logistics and facilities services provider with 34,000 employees spread across 23 countries in Africa, for ZAR5.25bn from a consortium led by Rockwood PE. The third deal was Helios investing into Oando Gas and Power.
According to Preqin there were 31 exits at total value of $1.4bn, down from 31 exits valued at $2.1bn in 2015. Two sales by Rockwood (Tsebo and Safripol) influenced the figures. The record high was $20.4bn of exits in 2014.

Source Preqin

London Stock Exchange £24.5bn merger with Deutsche Börse in doubt

Doubt has been cast on the EUR29bn (£24.5bn) merger between London Stock Exchange Group plc and Deutsche Börse AG this week, after the European Commission demanded LSE must sell off its 60% stake in fixed-income trading platform MTS S.p.A. This is a part of LSE’s Italian business and an important clearing house for European government bonds, including Italian government debt.
The LSE says the EC is “unlikely to provide clearance” after it surprised the City and refused to comply with the demand. It said on Sunday that the request was “disproportionate”.
The deal had been announced a year ago as a “merger of equals” to create a mega-exchange capable of taking on the US exchanges. The European Commission could announce its verdict on 4 April.
LSE and Deutsche Börse had previously agreed to sell the French part of LSE’s clearing business, LCH, to satisfy competition concerns. Rival Euronext was the interested bidder. That may not go ahead.
LSE said that selling its stake in MTS would require approval from several European national regulators and hurt its wider Italian business, where MTS is classified as a “systemically important regulated business”. The LSE also owns Borsa Italiana, based in Milan.
In its statement, LSE said: “Taking all relevant factors into account, and acting in the best interests of shareholders, the LSE Board today concluded that it could not commit to the divestment of MTS.”
US exchanges, including Intercontinental Exchange, headquartered in Atlanta, may now start bidding for the LSE Group.
The 2 leading European exchanges had previously tried to merge in 2000 and 2005. In the current deal, Deutsche Börse, which operates Frankfurt Stock Exchange, will have a 54% stake in the enlarged business but the headquarters was forecast to stay in London. There were concerns post UK’s “Brexit” vote to leave the European Union that considerable volumes of clearing, especially securities denominated in euros, would move to Europe.
LSE and Deutsche Börse say the deal is still on, pending the European Commission verdict. Fees so far to City bankers, lawyers and public relations advisers have so far topped £300m, according to calculations on an announcement.
Deutsche Börse also operates the Luxembourg-based clearing house Clearstream and derivatives platform Eurex. It commented: “The parties will await the further assessment by the European commission and currently expect a decision by the European commission on the merger of Deutsche Börse and LSE by the end of March 2017.”

Paternoster Square with London Stock Exchange at right (credit: Wikipedia)

Tonight – Private Equity Africa 7th Annual Review and launch of report

Tonight is an excellent meeting: Private Equity Africa 7th Annual Review & Outlook Seminar at Thomson Reuters HQ in Canary Wharf, London. The meeting “Generating alpha in uncertainty” features top speakers identifying 2017 trends in Africa, including emerging credit funds, private equity deal pricing and activity.
Speakers include: Leon Saunders Calvert (Thomson Reuters), Gail Mwamba (Private Equity Africa), David Cowan (Citi), Nigel Wellings (Clifford Chance), Runa Alam (Development Partners International), Marlon Chigwende (Arkana Partners), David Damiba (Helios Investment Partners), Mark Jennings (Investec Asset Management), Suleiman Kiggundu (CDC) and Matteo Stefanel (Apis Partners).
There will also be the launch of the first Thomas Reuters Private Equity Africa 2016 Annual Review Report of Africa’s private equity industry including mergers & acquisitions, fund-raising and deals and a ranking of which houses are making the most deals in Africa.
I’m very honoured to be invited to host an evening of great insights and networking. For more information check the website.