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AVCA Overview 2005
AVCA Overview 2005
AVCA Overview 2005
AVCA Overview 2005
AVCA Overview 2005
AVCA Overview 2005
AVCA Overview 2005
AVCA Overview 2005
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AVCA Overview 2005

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  • 1. “Representing the Venture Capital and Private Equity Industry in Africa” AVCA OVERVIEW 2005 www.avcanet.com Head Office: London Office: Chairman: Sanda Oumarou Barbara James Mark Jennings Secretary General Managing Director Tel: +27 11 268 6911 Tel: +237 223 18 98 Mobile: + 44 (0) 7730 420 713 Fax: +27 11 268 6917 Fax: +237 223 19 11 Fax: + 44 (0) 207 610 0473 Email: mcj@zmlp.co.za Email: avcasecgen@avcanet.com Email: bjames@avcanet.com
  • 2. TABLE OF CONTENTS TABLE OF CONTENTS...................................................................2 1. Introduction.....................................................................................3 2. AVCA’s Objectives.........................................................................3 3. specific initiatives............................................................................4 4. Membership criteria.........................................................................5 4.1 General Criteria.........................................................................5 4.2 Full Membership........................................................................5 4.3 Associate Membership...............................................................5 5. WHY BECOME A MEMBER........................................................6 6. HOw to become a member..............................................................7 7. AVCA Board of Directors and executive committee......................8 AVCA Overview 2005 Page 2 of 8
  • 3. 1. INTRODUCTION AVCA is a not-for-profit entity founded to promote, develop and stimulate private equity and venture capital in Africa. AVCA is committed to promoting high ethical standards of business conduct and professional competence in the private equity and venture capital industries. Full Membership is open to private equity and venture capital firms and persons active in making significant equity investments in Africa. Associate Membership applies to professional firms and individuals who can influence and/or support the development of private equity and venture capital in Africa. This includes, but is not limited to, development financial institutions, accountants, lawyers, consultants and advisers, banks, development organisations, pension funds, insurance companies, national private equity and venture capital associations, and organisations that invest in private equity as a minor part of their overall investment activities. AVCA has a permanent Head Office in Yaoundé, Cameroon staffed by a part-time Secretary General, Sanda Oumarou and a full-time assistant, Manka Mancho. There is an Executive Committee of nine members drawn from across the continent and internationally. AVCA also has a London office staffed by a Managing Director, Barbara James and part-time assistants. 2. AVCA’S OBJECTIVES The main objectives of AVCA are to:  Promote the venture capital and private equity profession in Africa  Promote the development of professional relationships and cooperation amongst its members  Represent the profession within Africa and internationally  Stimulate the expansion of venture capital and private equity throughout Africa  Collect information from markets and from members  Circulate information to members and the outside world  Stimulate and maintain contacts within the membership  Contribute to the management development of investors and investees  Provide the relevant authorities with proposals for improvement in the corporate, fiscal and legal environment for venture capital and private equity in Africa  Maintain ethical and professional standards. AVCA Overview 2005 Page 3 of 8
  • 4. 3. SPECIFIC INITIATIVES  Membership o Recruit new members o Review membership fee structure o Publish AVCA 2005 Members Directory  Conference o Organise the 5th AVCA Annual Conference in Kenya in November 2005  Training o Provide a foundation training course for members  Valuations o Review and endorse the International Private Equity Valuation Guidelines  Research and Publications o Upgrade the AVCA website o Publish a Quarterly AVCA Newsletter o Publish the following  1st AVCA Yearbook  1st AVCA Investment Activity Yearbook  A Guide to Private Equity and Venture Capital in Africa  Who’s Who in Private Equity and Venture Capital in Africa  Case Studies in Private Equity and Venture Capital in Africa  Economic and Social Development Impact of Private Equity and Venture Capital in Africa  Advocacy o Participate in international policy debates E.g. UK Commission for Africa o Identify improvements in the policy environment for pe/vc in Africa o UN MDG One in Ten Target – articulating the industries target contribution to the Millennium Development Goals in Africa  Raise AVCA’s Profile o Identify AVCA stakeholders and raise AVCA’s profile within the stakeholder groups  Relationship with other VCA’s o Develop and maintain collaborative relationships with African and other Venture Capital Associations AVCA Overview 2005 Page 4 of 8
  • 5. 4. MEMBERSHIP CRITERIA The requirements for AVCA membership include general criteria that apply to all members and specific criteria for each membership category. 4.1 GENERAL CRITERIA An applicant must:  Have an active involvement in private equity or venture capital  Be of good standing in the private equity or venture capital communities  Agree to abide by the AVCA Articles of Association and Code of Conduct 4.2 FULL MEMBERSHIP Full membership is open to organisations and individuals:  Who can prove substantial activity in the management of equity or quasi equity financing  Whose main objective is long term capital gains to remunerate risks  Who have significant activities and investments located in Africa  Who can provide active management support to investees 4.3 ASSOCIATE MEMBERSHIP Associate membership is open to firms or individuals that can influence the development of private equity and venture capital in Africa. Organisations eligible to become Associate members include, but are not limited to, banks, universities, development capital organisations, consultants, financial advisers, stockbrokers, pension funds, insurance companies, development organisations and associations, private individuals and national associations for venture capitalists. AVCA Overview 2005 Page 5 of 8
  • 6. 5. WHY BECOME A MEMBER As a member of AVCA you will benefit from the power of association. The Association fulfils an important role that is best carried out as a collective body of industry practitioners and stakeholders. AVCA activities such as the Annual Conference, Quarterly Newsletter, Annual Yearbook and other initiatives are important and necessary components of a growing industry and together the Association can deliver these - spreading the financial costs, providing a representative and objective perspective and strengthening the credibility of these initiatives. Together the Association provides a financial, objective and credible base with which to build the industry - together we are stronger and can achieve much more. The Association establishes an identity for the industry. It allows interested stakeholders identify African private equity fund managers, investors and service providers. The website, Quarterly Newsletter, Members Directory and Annual Conference reinforce this identity. The Association offers networking opportunities for members and stakeholders. The Annual Conference and other planned events offer excellent networking opportunities to members. The Association creates awareness of the industries existence, structure, growth, performance, opportunities and other insights. This broad industry view is essential background for new and existing investors. Fund Managers looking to raise funds from new investor groups will have a much stronger proposition if their proposals include the kind of industry overview and analysis that the Association provides. The Associations current and planned industry research and publications are an important fundraising tool. The Association demonstrates the economic and social impact of the industry to African economies, and builds the case for favourable regulatory policies such as tax incentives, technical assistance and cutting red tape. The Association is an effective voice for the industry, learning from the example of other regional and country associations; it harnesses the collective strength of its members and stakeholders to create an enabling policy environment, in Africa and internationally, for private equity to flourish. The Association provides training and coaching for members and other stakeholders, to build capacity in the industry. The Association is able to address market inefficiencies within the industry. Where market efficiencies affect the industry as a whole; members can draw on the resources of the Association to address them. The proposed deals database is an example of a mechanism to identify and syndicate deals. The Association can identify and engage industry stakeholders. Stakeholder groups include media, investors, capital markets, entrepreneurs and service providers including lawyers, bankers, accountants and consultants. The Association can help stakeholders understand the industry and its needs from stake holders, and also communicate stakeholders’ needs from the industry. In addition, members enjoy financial benefits including discounts on AVCA events and publications and discounts on events and resources from AVCA partners such as Thomson Venture Economics. AVCA Overview 2005 Page 6 of 8
  • 7. 6. HOW TO BECOME A MEMBER An AVCA Membership Application Form, Articles of Association and the Code of Conduct is enclosed. Alternatively, contact the AVCA General Secretary for an application form and related documents or download a copy from the AVCA website (www.avcanet.com). The application form should be completed and submitted to the AVCA Secretary General (avcasecgen@avcanet.com) for approval by the AVCA Executive Committee. The AVCA secretariat will be in contact with you to inform you of the outcome of your application as soon as possible. For more information on AVCA and its activities, contact: Mark Jennings AVCA Chairman Email: mcj@zmlp.co.za OR Sanda Oumarou AVCA Secretary General Email: avcasecgen@avcanet.com OR Barbara James AVCA Managing Director Email: bjames@avcanet.com AVCA Overview 2005 Page 7 of 8
  • 8. 7. AVCA BOARD OF DIRECTORS AND EXECUTIVE COMMITTEE AVCA Secretary General Sanda Oumarou Tel: +237 223 18 98 Fax: +237 223 19 11 Email: avcasecgen@avcanet.com Executive Committee Mark Jennings (Chairperson AVCA) Aziz Mebarek, (Vice-Chairperson Zephyr Africa, Johannesburg, South AVCA) Africa Tuninvest, Tunisia Tel: +27 11 268 6911 Tel: +216 71 862 311 Fax: +27 11 268 6917 Fax: +216 71 862 805 Email: mcj@zmlp.co.za Email: aziz.mebarek@tuninvest.com Alamine Ousmane (Treasurer AVCA) Barbara James (Managing Director) Cenainvest, Yaoundé, Cameroon AVCA London Tel: +237 770 4828 Tel: +44 (0) 7730 420 713 Fax: +237 223 9155 Fax:+44 (0) 207 610 0464 Email: aomey@afrilandfirsrbank.com Email: bjames@avcanet.com Edward Effah (Membership) Rotimi Oyekanmi (Advocacy) Fidelity Group, Accra, Ghana African Capital Alliance Tel: +233 21 245 850 Tel : +234 1 262 52 38 Fax: +233 21 245 851 Fax : +234 1 262 52 38 ext. 111 Email: eeffah@fidelityghana.com Email : rotimi@can-aca.com Piers Kenyon (Publications) Tshepidi Moremong (Training) Equity Africa, Johannesburg, South Aureos Capital S.A Africa Tel: +27 11 884 2066 Tel: +27 11 646 1390 Fax: +27 11 884 2067 Fax: +27 11 646 13 25 Email: tmoremong@aureos.co.za Email: piers.kenyon@equityafrica.co.za Davinder Sikand (2005 Conference) Aureos Capital, Kenya Tel: +254 20 228 870 Fax: +254 20 33 01 20 Email: dsikand@aureos.co.ke Enquiries can be directed to the Secretary General or: North Africa: Aziz Mebarek West Africa: Edward Effah or Rotimi Oyekanmi South Africa: Piers Kenyon, Mark Jennings or Tshepidi Moremong Central Africa: Alamine Ousmane East Africa: Davinder Sikand Europe/ World: Barbara James AVCA Overview 2005 Page 8 of 8

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