US fund manager, Invesco, has appointed Gwendolyn Ansah Smith as managing director for Africa.
In the newly created role, Smith will be responsible for developing and managing the firm’s Africa business. She will report to head of Middle East and Africa Zainab Kufaishi.
The continent’s investment market is growing, fuelled by demographic shifts that have led to increased urbanisation and a burgeoning middle-class. Smith will be expected to help Invesco develop investment products and provide international investors with greater access to the region.
Prior to her recent appointment, Smith was managing director of Invesco’s global institutional division.
“We see a significant opportunity to expand our market presence in Africa given the encouraging demographics and maturing capital markets and we are looking forward to deepening our commitment to clients both in the continent and globally,” said Kufaishi.
“Not only does Africa have the potential to become the world’s breadbasket it could also be its factory,” added Paul Jackson, global head of asset allocation research at Invesco. “Given the population shrinkage expected in other parts of the world, a choice will have to be made: either capital moves to where the workers are (Africa) or the workers will come to where the capital is. We believe Africa will be the investment story of the 21st century.”
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