By Marcus Williams
Renaissance Capital, the fast growing emerging markets investment bank, is eyeing deals to buys brokerages in “five or six” African countries.
Speaking to the Financial Times, its bullish founder Stephen Jennings said the group expected to close deals within the next few months.
Rencap is expanding at breakneck speed 18 months after the Stephen was forced to sell half of the bank to billionaire oligarch Mikhail Prokhorov and fire 40% of its personnel.
“It’s deja -vous all over again piling into Africa,” said one former Rencap executive. “He just loves a craps game.” The Moscow-based bank last week annouced two ties up with banks in Mongolia.
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