The Africa Financial Services Investment Conference (AFSIC) – an annual event that is hosted in London each year – is the main driver behind the revenue growth for Afinitas during the first six months of the year. Afinitas, a Pan African investment company focused on developing a portfolio of leading Africa focused businesses, released its interim financial results this week for a six-month period ended 30 June 2017 showing a 26 percent revenue growth to $412, 953. The growth is said to have been supported by AFSIC which was held in London on the 3rd to 5th of May this year, hosted by Africa Events Limited (AFL) which is 50 percent owned by Afinitas. Due to ongoing investments, the company says its operating expenses increased resulting in pre-tax loss of $440, 655. The company has achieved key growth milestones, including establishing the first operating subsidiary in Ethiopia, Eqos Global, the launch of a series of investor trips across Africa and the growth of AFSIC. The conference this year has reportedly recorded a good growth in delegate numbers and profitability. This was the fifth consecutive year the conference is being held and is now said to be one of the leading Africa focused investment events held annually and attracts a global audience of key executives of Africa focused companies and investors.
During the period under review AEL is said to have launched a series of investor trips into 12 African countries. The company says these trips will initially focus on connecting investors with investment opportunities in the infrastructure, energy, power, renewables, mining and oil and gas sectors. The first of these investor roadshows was held in June and focused on several countries in Southern Africa while more trips for other parts of Africa are being arranged. Adventis Limited which is 66 percent owned by Afinitas is actively working on launching a product that will look to strengthen and deepen Africa’s financial services sector, Afinitas said in the results with discussions with potential said to be ongoing and details are expected to be communicated to the market at a later date. Another Afinitas investment, Ethiopia Investment Limited (EIL) which the group owns 100 percent has been granted a licence to set up a business process outsourcing (BPO) company in Ethiopia. The new company which operates under the name Eqos Global will provide outsourced services to international and local clients.