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Sub-Saharan Africa

Venture is attracting growing interest on the continent, despite investor expectations not always matching the realities of the local business environment.
Private equity investment has helped power a connectivity revolution in Africa despite the hurdles to extending rural access to broadband.
Private markets have a crucial role to play in deploying capital where it is most needed, says Evans Osano at development agency FSD Africa.
Market conditions for private equity firms are improving, but more work needs to be done to mobilise local capital.
The financial sector – especially fintech – has overtaken 'consumer discretionary' to take the largest share of private equity deal volume.
South Africa faces headwinds, but GPs still have an appetite for the country, ranking it the third-most attractive on the continent.
Lagos, Nigeria
The region still attracts private equity interest as countries improve their ratings in the Ease of Doing Business index.
Nairobi skyline
Kenya remains the major draw in the area, but there are signs of competition on the horizon from the likes of Rwanda and Uganda.
Tech and venture stand out as bright spots as Africa’s private equity industry continues to adapt to the covid environment.
Although the value of private equity investments took a hit thanks to covid-19, deal volume is growing.

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