Panafrican Capital establishes presence in Kenya

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THE Central Bank of Nigeria (CBN) has cleared controversy over the named Islamic banking following the recent guidelines released by the CBN. Kingsley Moghalu, CBN’s deputy governor, Financial System Stability said that the non-interest banking model is purely financial with no religion sentiments as contrary to media speculations and financial experts

PANAFRICAN Capital Plc, an  investment  firm in Nigeria, has established a subsidiary in Kenya.

Managing Director/Chief Executive Officer of PanAfrican Capital Plc, Chris Oshiafi, who was at the just concluded East African Trade and Commodity Finance Conference in Nairobi, Kenya, said the strategic direction of his firm was to have a strong presence in East Africa citing Kenya as the economic hub of the Eastern African bloc.

According to him, what Nigeria is to ECOWAS, is what Kenya is to the rest of East Africa. With a population of about 45 million, Nairobi is the regional hub and economic capital of the Eastern African Community, which comprises of Kenya, Tanzania, Uganda, Rwanda and Burundi; and with the independence of Southern Sudan, the East African Community would soon embrace a new member state into its fold.

The conference, which was tagged 3rd East African Trade and Commodity Finance was organised by Europe-based Exporta Group deliberated on Trade Flows in East African Region, Roles of Banks, Corporate growth and the region’s growing oil and gas significance.

Other sub-themes explored at the parley, which drew Continental Trade Finance players like Afrexim and Fimbank, a specialised factoring & forfeiting firm from Africa and development partners across the Europe and Asia also included tracking appetite for Trade and Commodity Finance Risk, how corporations are using Technology to drive operational efficiencies, exploring the realities of investment risk, reducing risk and encouraging liquidity in East Africa, facilitating trade through inward investment and the biggest hurdles to East African trades.

PanAfrican Capital’s is a Nigerian firm with strong focus on Investment Banking, Structured Finance, Financial Advisory and Asset Management. In addition to Kenya, it also operates in Ghana.

The company is planning to inaugurate its Zambia (Southern Africa) and Egypt (Northern Africa) entities before the end of the year, says Head of Research & Corporate Planning, Lanre Bakare.

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Panafrican Capital establishes presence in Kenya