RenCap targets Africa growth

Renaissance Capital, the Russian banking group, is set to expand its operations in Africa after applying for licences owned by an insolvent brokerage in Kenya.

Bloomberg reports the Russian group has applied to buy the licences owned by Francis Thuo & Partners, Kenya's oldest brokerage which was bankrupted last month.

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Ray Dalio Sells Last Stake in Bridgewater, the Hedge Fund That Made Him a Billionaire