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Special Supplement: Africa - Launch Of A Catalyst - MediCapital, The New Sales And Investment Banking Arm Of BMCE, Aims To Spark Interest In Untapped African Markets. Neil Sen Reports.

Article Excerpt
Byline: NEIL SEN

It says much for London's status as a financial centre that MediCapital, the new wholesale and investment banking arm of the BMCE group, is based there.

MediCapital specialises not just in emerging markets but in the even more esoteric regions of Francophone and Portuguese-speaking Africa, countries that have hitherto attracted little interest from London-based investors and bankers who, if they are interested in sub-Saharan Africa at all, tend to focus on English-speaking countries.

MediCapital chief executive Eric Aouani says: "MediCapital is the first bank founded by an investor from French-speaking Africa to be based in London. BMCE want to tap into a large investor base that is becoming increasingly aware of Africa and we want to connect them to our corporate clients. There are some large specialist funds being set up.

"It is true that people in London have tended to think that sub-Saharan Africa means Nigeria. But we are trying to open their eyes to the possibilities elsewhere, in large areas of Africa that might not speak English but where there is huge economic potential."

He adds that sub-Saharan Africa can offer high returns in the present environment.

London interest

Mr Aouani, who previously worked for Citi and for Cargill Financial Markets, says there is plenty of interest in MediCapital's activities from investors in...

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