On 6th November, Developing Markets Associates (DMA) and Homestrings, hosted the inaugural Investing in West Africa Symposium at the Waldorf Hilton in London.
This remarkably successful Symposium was attended by some 300 registered members of Homestrings, with between $10,000-$25,000 to invest in projects and opportunities on the continent. The event attracted institutional investors as well as HNIs in the Diaspora with a specific interest in infrastructure projects. In total, over $2 billion in capital was present within the audience. During the course of the day, 15 pre-vetted projects were on showcase from: the African Development Bank, the African Export Import Bank, Azuri, Ecobank, Iroko Securities, Silk Invest, Splash Mobile Money, Stanbic Bank and Timbo Resources - pan-African orghanisations such as Sanlam also supported the event. Many projects garnered expressions of interest from Diaspora and institutional investors alike - amounting to $61.5 million contingent on due diligence and agreement on terms. The event carried the support of the Foreign and Commonwealth Office, the Business Council for Africa and the Royal African Society. The second event in the series, Investing in Nigeria Symposium, is due to take place on March 7th 2014.