Nairobi — A body that will represent the private equity industry in East Africa dubbed The East African Private Equity and Venture Capital Association (EAVCA) is set to be launched in November.
The firm was founded by Abraaj, Actis, Africinvest, Catalyst Principal Partners, Centum, Fanisi Capital and TBL Mirror Fund.
EAVCA Managing Director Nonnie Wanjihia says the firm is seeking to bridge the knowledge gap between the public and private sector on the importance of private equity and the impact it can have on growing enterprises and the economy.
Wanjihia says there is a need for specific initiatives that includes advocacy, training networking and intelligence and begun the process of establishing the association.
"Private equity in East Africa is in its infancy, and it's a small sector but we believe that it will have a growing impact in terms of the economy and so we want to raise awareness of its activity and how private equity funds operate," she said.
Wanjihia says the association will offer training with more localized content , targeting more junior members and offering networking opportunities as well as capturing industry data and statistics.
She says the firm plans to give the industry a better voice in order to influence policy makers within the government and other institutions.
"We would also want to help the industry gain more clarity on challenges experienced within the region and how this can be improved." She stated.
Wanjihia says Investors need to be provided with information like research material and statistics in order to enable them to make more informed choices on investment.
"We want to bring together regional players in order to generate more investment opportunities and also promote East Africa as an attractive investment destination," she said.
The firm also plans to provide the industry with networking opportunities to enable them debate on challenges and solutions of investing in the region.
"We started with Nairobi because it's the business hub of the region. Most companies have their head offices in Nairobi when we are settled in here we will pass over to the rest of East Africa," she said.