February 25, 2010 / 2:30 PM / 9 years ago

Renaissance Capital opens South African offices

JOHANNESBURG, Feb 25 (Reuters) - Russian private investment bank Renaissance Capital has opened its first offices in South Africa to service local companies wanting to expand into the rest of the continent.

Renaissance, which specialises in emerging and frontier markets, said on Thursday its new operations would be run by Clifford Sacks, co-head since 2006 of Merrill Lynch’s South African and sub-Saharan business.

The South Africa office will focus primarily on metals & mining, oil & gas, financials, and telecommunications.

“They are where we see the strongest demand from clients,” the bank’s Africa chief executive, Andy Lowe, said. “With the addition of a South Africa operation, we now have an unrivalled pan-African investment banking franchise.”

Renaissance Capital entered Africa in 2007, and has offices in Nigeria, Kenya, Zimbabwe, Zambia and Ghana. (Reporting by Ed Cropley; Editing by Dan Lalor)

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