Tuesday, May 11, 2021 UTC
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Analysis > Analysis and Strategy

Private Equity in Africa: Outlook for 2021

Michael J. Preston, Partner, Cleary Gottlieb
Feb. 11, 2021, 9:24 p.m.

Word count: 768

In 2012, rockstar-turned-activist Sir Bob Geldof addressed the SuperReturn conference in Berlin, urging the US and European PE industry to turn its attention to Africa. He highlighted the opportunities to generate returns while leaving behind “firms, farms and factories” essential for the continent’s development. Eight years later and many PE sponsors have been drawn by Africa’s expanding economic growth and its youthful and rapidly growing population. Fundraising for the continent reached $3.8bn in 2019 according to the AVCA, the best year since 2015, and the number of PE deals successfully executed has risen consistently.

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