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EAVCA Holds 4th Annual Conference, Calls for Investment Innovation

BY Soko Directory Team · June 14, 2018 10:06 am

The East Africa Venture Capital Association (EAVCA) hosted its annual conference in Nairobi.

The conference comes at a time when the East African governments are grappling to identify new sources of funding to finance ambitious mega projects in the region.

The Kenyan government recently announced its Big 4 agenda that will be implemented over the next four years and will include major investments through partnerships with the private sector to implement.

Principal Secretary of Housing and Urban Development, Hon. Charles Hinga Mwaura who addressed the event disclosed that plans were in place to set up 500,000 new homes over the next five years noting that the government will rely heavily on private capital to make the project a reality and sustainable.

“Through innovative private-public partnerships (PPPs), mega infrastructure financing in Kenya can be made cheaper and make fair returns to private investors and enhance better service delivery to the public.” Said Charles Hinga Mwaura.

In 2017, the region registered 29 deals compared to 44 in 2016. Disclosed deal value totaled US$ 480.4 million, compared to US$ 484million in 2016, indicative of a growth in the deal value.

Despite a commitment by 13 pension funds to partner with different private equity funds in the region, investment by pension funds to private equity funds remain at below 1%.

EAVCA, through the chairperson Ayisi Makatiani, noted that private equity allows pension funds to diversify their investment portfolio, access unlisted sectors, expand their investment geography, all while generating returns for their investors.

He further challenged the investors to be innovative in their engagement with the businesses, the product offering, and the potential for returns offered.

 “In the end, sustainability of the private investment space may rely not on the funds raised but, on the ability, to innovate and get creative with our offering, as we are beginning to see with private debt funds or evergreen funds which work alongside the traditional closed-ended PE funds.” Said Mr. Makatiani.

This year’s conference marked the association’s fourth year of the renowned event, and is also the biggest conference to date, with over 250 from various sectors including; pension funds, commercial banks, private equity and venture capital funds, impact investors, high net worth investors, business owners, industry associations, government officials and regulators attending.

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