By Andrei Skvarsky.
Russian investment bank Renaissance Capital is due to host its second annual conference on January 22-23 to drum up institutional investment into economies in North Africa, a region RenCap is very optimistic about, being particularly upbeat about Morocco and Egypt.
The venue of the 2nd Annual North Africa Investor Conference is Marrakech, Morocco.
The forum aims to bring key North African corporates representing a variety of sectors from financials to healthcare together with institutional investors from the United States, Britain, the United Arab Emirates, Singapore, Switzerland, Sweden, South Africa and Mauritius, RenCap said in a statement.
The conference will include about 200 one-on-one meetings between leading Moroccan and Egyptian companies, on the one hand, and global investors with assets under management totalling more than $2 trillion, on the other.
RenCap’s CEO for North Africa, Amr Helal, said the bank believes the Moroccan economy “can grow by 4-5% in a base case scenario in the 2020s and 5-6% in a positive scenario”.
“We also remain strong advocates of the Egyptian growth story, supported by favourable demographics and an ongoing broad-based reform programme, which is bearing fruit,” Helal said.
“With these factors in place, we believe the economy is well positioned to grow at 5-6% or more in 2021 and 2022.”
The conference is planned to focus on industrialisation in North Africa and the Middle East and on ways of making the MENA region more competitive.
Africa is one of the key markets of RenCap, a bank that focuses on emerging and frontier markets and also does business in Europe, North America, Asia, Russia and the Commonwealth of Independent States.
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