PEVCA member Udo Udoma & Belo-Osagie held its maiden Private Equity Summit and Fundraising and Deal Academy on the 18th & 19th of January 2018 themed Nigeria- Still open for Business. The goal of the event was to provide a plethora of perspectives across the spectrum of private equity activity in Nigeria, three trends of which were paramount – fundraising, investment opportunities and the Nigerian regulatory framework. The GP & LP panel sessions, deal reviews, keynote interviews with the Ministers for Industry, Trade and Investment and Budget & National Planning, discussions around due diligence concerns, tax considerations etc, several international and indigenous PE participants all sharing insights on their in-country experiences made for a content-rich event.
Underpinning the panel sessions, case studies, interviews and training academy was the portrayal of an industry demonstrating resilience and still making a strong case for its growth potential despite a tougher and uncertain economic environment.
On the back of the general consensus, among these key participants, that Nigeria was indeed still open for business, came the introduction of the recently established Private Equity and Venture Capital Association of Nigeria (PEVCA). The Chairman of the Association, Mr. Paul Kokoricha, highlighted its key objectives and strategic priorities over the next year. The case for a local PE association is anchored on having a locally established industry platform for participants to converge along their key interests and concerns with operating in the Nigerian market.