Lead Left Interview – Gavin Vorwerg

This week we chat with Gavin Vorwerg, Director at Laurium Capital. Laurium is a hedge fund dedicated to investments in Africa.

The Lead Left: Gavin, this is an unusual space for us, but Africa seems like a huge growth opportunity.

Gavin Vorwerg: It is, Randy. We started six and a half years ago focused on equities in Africa and South Africa. About 60% is oriented to South Africa, with Nigeria, Kenya and Egypt covering the balance.

TLL: Africa has been much in the news of late. On many fronts.

GV: South Africa had its biggest credit event in August – the default of African Bank Investments – resulting in $5 billion of defaulted debt. The Bank lent unsecured to consumers, things like payroll deductions. But more than one lender was lending to the same individual. It’s all still being sorted out.