Renaissance Capital to Move Into Egypt, Angola, Uganda, Rwanda

Renaissance Capital, the Russian emerging-markets bank with operations in Africa, plans to expand next year into Egypt and at least three other African countries.

The firm, which is half-owned by billionaire Mikhail Prokhorov, may buy or start a brokerage in Egypt that would also cover Morocco and Tunisia, Clifford Sacks, the chief executive officer of the South African unit and head of Pan-African Equities, said in a phone interview from Johannesburg yesterday.