Investment analysts across East Africa are set for a major conference to seek capital inflows following the devastating effects triggered by the Covid-19 pandemic outbreak that resulted in a global economic slowdown.
According to the East Africa Chartered Investment Analysts Society (CFA), investment opportunities are expected to be on a re-bound after a lull experienced in the last three years’ courtesy the COVID-19 pandemic outbreak.
In realization of the opportunities, CFA society has organized a high level Investment Conference scheduled for Nairobi on 17th November. The conference is expected to bring together industry bigwigs, owners of capital, experts, investors, regulators and top level public policy decision makers to deliberate on the theme of ‘Investing in an Evolving Environment”.
The one-day event will create a platform for participants to learn and share ideas and experiences on how to deepen regional capital markets to spur economic growth, through keynote speeches, presentations, and panel discussions.
The main goal will be to deepen regional integration and increase the competitiveness of East Africa as a global investment hub.
“This is a great opportunity to come together with other sector players to discuss emerging issues such as technology, ESG, and management of investment skills providers (employees) in view of the new global trends and their impact on the regional investment markets” the Society president Francis Nasyomba said.
CFA says investment prospects in the region at a steady recovery to pre-pandemic levels, a trend expected to hold as foreign direct investments buoyed by investor interest in strategic sectors that are fronted to deliver the realization of the economic growth in the next ten years.
In a media statement, Francis Nasyomba, the president of the CFA Society East Africa said international and regional investors are developing a keen interest in productive sectors of the economy such as green energy, extractive industries, infrastructure, agricultural value chain, oil & gas as well as the information technology space.
CFA believes investment opportunities in the regional will be bolstered by the East Africa Community heads of state summit deliberations held four months ago whose intent is to pursue a strategic approach of sustainable energy production in a bid to respond to challenges brought about by climate change.
“The unity of purpose by the heads of state iskey to positioning East Africa among the integral players and respondents to the global rallying call for investment opportunities that bring returns and improve the lives of the people”, he added.
The Covid-19 pandemic not only battered East Africa’s Foreign Direct Investment inflows but sent the entire global market place back to the drawing board with respect to strategizing on investor targeting as foreign investors adopted a wait -and -see attitude aimed at capital preservation.
“As the pandemic continues to subside, the impact it has had on economies is far from being mitigated. This is complicated further by the Russia-Ukraine hostilities. Some countries are however coming up with innovative ways of building back better as others apply the building forward smarter mantra”.
In the African context, the member states continueto align their policies to the modern investment climate demands in a bid to position herself as a leader in investment attraction and retention. The region’s current political stability places it as an attractive investment haven where investors are assured of security of their investments.
Given that an estimated 42% of the regional investment opportunities are derived from climate-sensitive sectors such as agriculture, manufacturing and tourism, the deliberate effort towards promoting responsible production and sustainable energy generation is a welcome relief to East Africa.
“In the long run, the East African Community will be able to manage with ease the effects of drought and floods for the benefit of continued growth of the aforementioned sectors and associated ones. The trickle-down effect will have a positive impact on the overall economic performance” Nasyomba added.
He affirmed the improved business environment brought about by friendly policy interventions in response to changes in investor needs has started bearing fruit.
“This is evident considering the frequency and number of registered interests from investment groups as well as source country enquiries and investor aligned delegations that the region continues to receive.
Investment related statistics compiled by the various member states indicate that the effects of postCOVID -19 pandemic paint a promising picture of the region’s potential of dislodging comparator economies as a preferred investment destination in Africa.
In Kenya for example, conservative figures indicate that the country registered and facilitated 167 foreign investment projects worth Kshs. 47.44 billion, an encouraging feat during such an unpredictable period.
CFA plans to proactively co-ordinate both the public and private sectors in the revitalization of new investment opportunities regionally by forgingstrategic plans to reinvigorate investment opportunities.
“When it comes to achieving investment goals, it is crucial that investors understand how the evolving investment landscape and changing macroeconomic environment continue to alter traditional investing norms. Sustainable investing will come in to sharp focus going forward as organizations and investors alike look to shift their resources to such opportunities” the CFA society president noted.
Among the key presenters in the conference are Patricia Kiwanuka, CFA, OGW, Investment Manager, Counselling Psychologist and Director of Revenu Stream, Hortense Mudenge, CFA, Chief Operations Officer at Rwanda Finance Limited, Pius Muchiri, CFA, Managing Director and, CEO of Nabo Capital and Radhika Bhachu CFA, Co-founder & CEO of Ndovu Capital, Keith Kalyegira CFA, Chief Executive Officer at Capital Markets Authority-Uganda.