Rennaissance Capital Now sets Shop

License:

Europe's leading investment banker, Renaissance Capital, Tuesday received a license to operate as a local investment bank in Kenya and said it would to target Zimbabwe and Nigeria as one of its key markets in Africa.

Major Investment Bank:

Renaissance Capital is a leading investment banking firm in Russia, Ukraine, Central Asia and Sub-Saharan Africa. The company has market-leading positions in each of its core businesses – -Mergers & Acquisitions

- Equity and debt capital markets

-Securities sales and trading

-Research

-Derivatives

The company is wholly owned by employees and management and is part of the Renaissance Group.

Rennaissance Group:

Renaissance Capital is part of the Renaissance Group, an independent group of consumer finance, investment banking, asset management, merchant banking companies specializing in emerging markets. The Group began operations in Russia in 1995 and has since become the largest privately owned investment group.

Stephen Jennings, Renaissance Chief Executive Officer, said here the Kenyan license allowed the firm to set up its Africa regional headquarters in Nairobi, from where it invest an initial sum of 1 billion U.S. dollars in Africa's telecommunication sector.

Peek on fellow Bloggers and Newsportals:

Investors are waiting to see what these new kid on the block will bring to the stock market. Read out bankele's analysis of the new stock broker.

As various companies release their financial results the banking sector has realized some all time highs. Those who have released their results include Equity, KCB, BBK, NIC amongst others. Read more and the incisive analysis by Mjengakenya.

Standard Chartered Bank Kenya has reported a 21% increase in half-year pre-tax profit. The bank posted a Sh400,000 rise in its profitability to hit Sh2.3 billion, up from Sh1.9 billion over the same period in 2006 to be the second most profitable bank in Kenya after Barclays.

BBK PLC is bidding for ABN Amro Bank in Europe with sweet offers to Amro's shareholders.Read Kainvestor'a blog on this here.

Telkom Kenya rattles the big boys in their game with only a few months into its wireless operations that has attracted close to 150,000 subscribers and growing. Its targets are immense and its only a matter of time and they will be in the same league as Safaricom and Celtel. How about their profitability and sale of its 51% stake? The companies said to have bidded include, India’s Bharti Airtel, Reliance Communications and the Tata Group all for the 51 per cent in state-owned Telkom Kenya. Time will tell after a conference recently for the tenderers to buy the stake.

Confidence in the Nairobi Stock Exchange remains high despite a recent market correction and loss by investors of more than Sh80 million in the collapse of a brokerage firm.