Panel 4: Capital Markets: Next steps for Developments
Panel Summary
Capital markets in Africa in the past few years witnessed growth as never seen before. The growth of various sectors such as banking and telecommunication, together with increased interest by foreign investors, has led to unprecedented increases in both debt and equity markets. However, since the global credit crisis, asset values have declined and liquidity has decreased. Given these recent shocks, this panel will discuss the next steps for development of capital markets in Africa, including regulatory issues and new asset classes need to be developed. Are there new frameworks such as issuance and reporting frameworks that need to be developed? What technology investments are needed to improve liquidity, transparency and transaction speed?


Ashley Bendell, Associate Director, Exotix
Ashley Bendell,
Associate Director,
Exotix

Ashley Bendell Ieads Sub Saharan Equities at Exotix - www.exotix.co.uk - in the USA, a leading (London based) frontier emerging market investment banking boutique. His clients include mutual, hedge and private equity funds based in the USA and Africa, whilst he maintains strong relationships with local investment centers, stock brokers as well as senior company management across Africa.

Additionally, Ashley has visited the continent on numerous occasions alongside some of world's largest financial institutions.

Ashley graduated from Edinburgh University and shortly after completed a Masters in Investment Analysis (MSc) from Stirling University, Scotland. He started his career at Credit Suisse, London within the Prime Brokerage Sales department and was later transferred to the New York office to expand the firm’s Emerging Europe, Middle East and African (EEMEA) Equity sales force. During this time Ashley gained a strong reputation and numerous awards for his client focused approach.



Ryan Shen-Hoover, Founding Partner, Kivuno Capital Management
Ryan Shen-Hoover,
Founding Partner,
Kivuno Capital Management

Ryan is a founding partner of Kivuno Capital Management, an early-stage asset manager focused on African equities. The firm’s Africa fund specializes in small-cap and closely-held stocks.

He also edits InvestingInAfrica.net, an investor’s guide to African stock markets. Since 2006, the website’s flagship publication has been highlighting African companies that contribute to human development and deliver index-beating returns to investors. 

Ryan’s work as a writer and researcher has afforded him the opportunity to travel widely throughout the continent. He is a former resident of Lesotho where he worked with a local human rights organization.



Ayo Salami, Chief Investment Officer, Duet Africa Index Fund
Dr. Ayo Salami,
Chief Investment Officer,
Duet Africa Index Fund

Dr Salami is the Chief Investment Officer of the Duet Africa Index Fund and the Duet Africa Opportunities Fund. He is also a Director of African Business Research Limited (a research driven, information portal and consultancy specializing in Africa, www.africanfinancialmarkets.com). He has been involved in researching African financial markets since 1998 when he worked at Nomura International where he was the senior equity analyst covering Africa. He initiated Nomura’s coverage of the region and over the years has acquired substantial knowledge and experience on African economies and companies.

Dr Salami has substantial experience as a practioner in the equity markets where he was involved in originating and structuring corporate acquisitions, capital raising via initial public offerings. He obtained his PhD in Finance from Cass Business School and he is a graduate of both the London School of Economics and Leeds University.



Karim S. Anjarwalla, Partner, Anjawalla & Khanna Advocates
Alia Yousuf,
Head of Emerging Markets Debt Funds,
Standard Asset Management

Currently the Head of Emerging Market Debt Funds for Standard Asset Management (SAM), Alia Yousuf directs a team of investment professionals based in London. She is responsible for fund strategies and investment selection within the emerging markets fixed income asset class targeting absolute returns. She has wide experience in investing across sovereign, corporate and financial sectors covering the sub-Saharan and other emerging markets regions where fundamental research and risk management are key.  Alia Yousuf previously managed the EM bond portfolios at First State before joining SAM. Prior to this, she worked as an EM debt portfolio manager at Fischer Francis Trees and Watts. At EME Ms. Yousuf was heavily involved in the structural reform programmes all across Africa relating to trade policies and infrastructural development. Ms. Yousuf is also a Chartered Financial Analyst and holds a BSc in Econometrics and a MSc in Economics from the London School of Economics.



Johan De Bruijn, Portfolio Manager, Emerging Markets Management, LLC
Johan De Bruijn,
Portfolio Manager,
Emerging Markets Management,
LLC

Johan de Bruijn is currently the Portfolio Manager of the Frontier Africa Funds at Emerging Markets Management LLC. He was previously the head of the small and mid cap sector at Sanlam Investment Management (SIM) and oversaw the award-winning Sanlam Small Cap fund, which is one of the underlying funds in FG Mercury Equity Fund of Funds.

Prior to SIM, Johan had a 6-year stint with Coronation Fund Managers, ultimately as their small and mid cap analyst. Johan is a qualified CFA with a BEcon (Hons) degree from the University of Stellenbosch. He enjoys reading and is a keen triathlete, a sport that takes up most of his free time.


 

 

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