The East African region is witnessing a change in momentum post 2016, where more East Africa based pension funds have begun to put money in local GPs, Eva Warigia, Executive Director of EAVCA, has said.
There appears to be a gradual, yet notable shift in the approach taken by both local and global private equity fund managers towards fund structuring, according to the Southern African Venture Capital and Private Equity Association (SAVCA).
South Africa remains the continent’s leading foreign direct investment (FDI) destination, when measured by project numbers, which increased 6.9% year-on-year, according to EY’s Africa Attractiveness report.
The Kpone Independent Power Plant (KIPP), which is being developed by Cenpower Generation Company, is expected to be commissioned before the end of 2017, according to African Infrastructure Investment Managers (AIIM).
Mediterrania Capital Partners, a regional private equity firm focusing on growth investments for companies in North African and Sub-Saharan countries, has become a signatory of the United Nations Principles for Responsible Investment (UNPRI).
South Africa’s venture capital ecosystem is evolving, with more fund managers entering the industry and growing investor interest in the asset class, according to Tanya van Lill, CEO of the Southern African Venture Capital and Private Equity Association (SAVCA).
While almost half of global endowments and foundations are planing to increase their private equity exposure in 2017, institutions in Southern Africa are still lagging behind their peers, Africa Global Funds has learned.
Nigeria has the capability to become one of the most significant leaders in Africa’s financial technology innovation, according to Irrational Innovations, a venture capital fund focused on fintech in Africa.
Private equity investment in African infrastructure has been an emerging theme over the past decade, according to Erika van der Merwe, CEO of the Southern African Venture Capital and Private Equity Association (SAVCA).
The Private Equity Women Investor Network (PEWIN), a global networking organization for senior women in private equity, has expanded to Nigeria, following the formal launch of PEWIN Africa earlier in the year, in South Africa.
The current investment cycle has identified increased investor interest in Morocco, which remains the leading country for investment in North Africa, according to the African Private Equity and Venture Capital Association (AVCA).
Africa's financial environment is as competitive as other developing and high income regions in some countries, but access to finance remains a challenge, according to the Institute of Chartered Accountants in England and Wales.
The Islamic Corporation for the Development of the Private Sector (ICD) and the Deposit and Consignments Fund (DCF) of Gabon have agreed to launch a private equity fund for SMEs in Gabon and Central Africa.
The impact investing group Investisseurs & Partenaires (I&P) has partnered with the US Agency for International Development (USAID) to launch an innovative acceleration program in Niger, Burkina Faso and Senegal.
Swicorp Private Equity has completed its spin-out from Swicorp to become SPE Capital Partners (SPE Capital), an independent private equity firm focusing on the Middle East and Africa, excluding the GCC.
South Africa’s current market conditions and the compelling value offering of infrastructure assets will further encourage pension funds to consider allocation to this asset class, according to Mark van Wyk, Head of Unlisted Investments at Mergence Investment Managers.
Lekela Power, a joint venture between Actis and global renewable energy developer Mainstream Renewable Power, has acquired co-development rights and sole rights to invest in the 158 MW Taiba Ndiaye Wind Project in Senegal.
Despite the challenges that currently face South Africa, the private equity and venture capital industry remains confident in the depth and breadth of skill in the local investment industry, according to Erika van der Merwe, CEO of the Southern African Venture Capital and Private Equity Association (SAVCA).
Kipeto Energy has signed a 20-year Purchase Power Agreement (PPA) with Kenya Power (KPLC), representing a significant milestone for the development of the 100-megawatt (MW) wind power project in Kenya.
Private equity exits in Africa reached a 9-year high in 2015, even as firms held onto their investments longer due to economic uncertainty, according to data from EY and the African Private Equity and Venture Capital Association (AVCA).
The African Private Equity and Venture Capital Association (AVCA), a pan-African industry body which promotes and enables private investment in Africa, has announced the launch of its newly inaugurated Sustainability Committee.
The allocation by pension funds in Southern Africa to private equity remains limited, according to the findings of a recently released survey report by the Southern African Venture Capital and Private Equity Association (SAVCA).
Business Partners Limited has launched Business Partners International (BPI) Uganda, a specialist risk finance company that provides customized financial solutions, sectoral knowledge, mentorship, and other added-value services for formal small and medium enterprises (SMEs) across Africa, and opened an office in Kampala, Uganda.
New York based RueOne Investments has announced its plans to launch the first marketplace providing investors direct access to a curated selection of alternative assets that are sourced, structured, and managed by industry leading asset managers.
RisCura, on behalf of the East African Venture Capital Association (EAVCA), has released the first ever dashboard on East African private equity deals, revealing that Kenya is dominating the region as a hub of private equity activity.
Agri-Vie, an African private equity firm focused on the food and agribusiness sector, and pan-African asset manager STANLIB, have launched EXEO Capital, a new private equity partnership, which will allow both parties the opportunity to expand their alternative investment offerings in Africa.
There has been an increase in M&A activity, especially in East and West Africa, as European multinationals search for opportunities to counter slowing growth at home, according to Fradreck Shoko, Head of Global Advisory for Standard Bank.
The Agriculture Fast Track Fund (AFT), a multi-donor fund contributed by United States Agency for International Development (USAID), Danish International Development Agency (DANIDA), and Swedish International Development Agency (SIDA), has announced an Ongoing Call for Concept Notes for Project Grants.
With over $50bn of collected premiums each year across the continent, and unprecedented year-on-year growth, it is important that African insurers think more strategically at where they invest their portfolios, Papa Madiaw Ndiaye, Founder and CEO of AFIG Funds, has said.
Gulf Capital's portfolio company Middle East Glass has acquired 100% of Misr Glass Manufacturing (MGM), a company that specialises in the manufacturing and marketing of container glass for the food and beverage industry in Egypt.
International development finance institutions (DFIs) have deployed nearly $16.8bn in impact capital across the Southern African region through over 650 deals, according to The Landscape for Impact Investing in Southern Africa report.
Africa’s top economies have maintained investor interest with strong momentum in M&A across the majority of sectors, according to the findings of the Deal Drivers Africa, published by Mergermarket in collaboration with Control Risks.
Finland-based Taaleri Private Equity Funds Group will provide further development capital to Cytonn Investments that will be deployed to the Kenyan real estate sector through Cytonn Real Estate, an affiliate whose deal pipeline now stands at KES 56bn.
Endeavor Energy, a power development and generation company backed by global PE firm Denham Capital, has significantly advanced the Songon Power Project in Côte d’Ivoire it is developing with local independent power producer Starenergie 2073.
Futuregrowth Asset Management, a specialist investment company in South Africa, is planning to invest around R200m ($12.57m) in in sustainable aquaculture projects via its Futuregrowth Development Equity Fund.
The performance of South African private equity continues to highlight the benefits of including this asset class into a diversified institutional portfolio, according to the latest RisCura-SAVCA South African Private Equity Performance Report.
The Tunisian Consignment and Deposit Fund (Caisse des Dépôts et Consignations, CDC) and Bpifrance, a French public investment bank, are set to launch a €20m French-Tunisian private equity fund on February 5 in Tunis.
West Africa continues to lead in share of private equity (PE) investments by region with a 25% share of deals between 2010 and 2015, a new report from the African Private Equity and Venture Capital Association has revealed.
Medu Capital, a South African private equity firm, is planning to close two investments via its third fund, according to Siyabonga Nhlumayo, Principal, responsible for investment execution and management.
Prudential Financial, a financial services company with more than $1trn of assets under management, and LeapFrog Investments have launched a $350m investment partnership to access high-growth markets in Africa.
The assumptions that are used in incorporating alternative investments into enterprise risk analysis can have important consequences for the perceived risk within investors’ portfolios, according to a white paper from BNY Mellon.
In the context of a global search for returns, investors are increasingly exploring the sub-Saharan African private equity market, according to Erika van der Merwe, CEO of the Southern African Venture Capital and Private Equity Association (SAVCA).
SOKOTRA Capital, a Dubai-based private investment company focusing on frontier markets, has been appointed as the exclusive commercial and marketing agent for Grupo Dibaq Diproteg (Dibaq), one of Spain’s largest and oldest privately owned animal feed producers.
South Africa has continued to dominate PE activity in the Southern African region, accounting for 76% of deal volume and 92% of deal value from 2007-2014, according to the African Private Equity and Venture Capital Association.
South Africa is viewed as the most attractive onshore private equity fund domicile in Sub-Saharan Africa, whereas Mauritius is leading as the most popular offshore jurisdiction, according to the EMPEA 2015 African Fund Domicile Survey.
South African private equity returns continue to edge higher, maintaining outperformance relative to the listed equity market, the latest RisCura-SAVCA South African Private Equity Performance Report has revealed.
Cairo real estate market has maintained a steady performance and improved sentiment in the Q3 2015 due to positive macro environment in Egypt, according to Ayman Sami, Head of Egypt Office at JLL MENA.
While volume remains relatively low in Africa with almost 11% of the microfinance portfolio of all MIVs, investment in Africa has grown by 211% over the past five years, according to the latest survey by Symbiotics.
Over the past year there has been a greater number of pension funds looking at Africa, according to Runa Alam, CEO and Co-Founder of Development Partners International (DPI), a $1.1bn Africa private equity specialist.
African Infrastructure Investment Managers (AIIM), an infrastructure equity investment manager, has announced its industrial partnership with Hydroneo Afrique, a wholly-owned subsidiary of MECAMIDI, a global manufacturer and developer of small and medium hydro power plant equipment.
A growing consumer middle-class, powered by rapid urbanisation and shifting demographic trends is driving both property demand and growth opportunities in the real estate industry across the African continent, according to Standard Bank.
South Africa’s agriculture sector has emerged as a viable asset class amidst the low interest rate environment, according to Old Mutual Investment Group’s Director of Strategic Projects, Craig Chambers.
Regional and Pan-African private equity firms continue to invest in North Africa despite the recent economic and political events that have occurred in the region, according to Ponmile Osibo, Research Analyst at AVCA.
IFC InfraVentures, an infrastructure project development fund, and Scatec Solar, an integrated independent power producer, will develop the $55m Scatec Segou solar power project in Mali with a local developer, Africa Power 1.
Private equity in South Africa remains an attractive asset class for pension funds and other institutional investors, Erika van der Merwe, CEO of the Southern African Venture Capital and Private Equity Association (SAVCA), has said.
The Emerging Africa Infrastructure Fund (EAIF), GuarantCo and Frontier Africa Investment Resource (FAIR), all vehicles being subsidiaries of the Private Infrastructure Development Group (PIDG), have issued an invitation to tender for their management contracts.
The realisation market in the South African private equity industry has returned the highest amount of capital since 2011, according to the 2015 KPMG and SAVCA Venture Capital and Private Equity Industry Performance Survey.
Private equity firm KKR has been charged by the Securities and Exchange Commission (SEC) for misallocating more than $17m in so-called “broken deal” expenses to its flagship private equity funds in breach of its fiduciary duty.
TPG Growth, a middle market and growth equity platform of TPG, and Satya Capital, an independent investment firm focused on providing long-term growth capital to African businesses. have partnered to focus on new investments in Africa.
South Africa attracts more than half the continent’s PE transactional activity thanks to a combination of market size, ease of doing business and comparatively well-developed financial institutions and governance practices, Sean McPhee, partner at Deloitte’s Corporate Finance unit, has said.
The Overseas Private Investment Corporation (OPIC), the US Government’s development finance institution, has announced its 2015 Global Engagement Call for Proposals from fund managers seeking OPIC financing for private equity investment funds.
Private equity (PE) exits in Africa reached an eight-year high in 2014, and strong activity is expected to continue, according to data from EY and the African Private Equity and Venture Capital Association (AVCA).
Morocco has emerged as the top investment destination for private equity in North Africa, attracting 51% of all deals and 43% of total capital invested in the sub-region between 2010 and 2014, according to a report by the Emerging Markets Private Equity Association (EMPEA).
Despite the backdrop of significant volatility across all investment markets during 2014, SA private equity funds continued to offer relatively strong performances, according to the fourth quarter 2014 RisCura-SAVCA South African Private Equity Performance report.
Investments into South African private equity funds delivered an annualised rate of return of 18.5%, net of fees, over the ten years to September 2014, according to the RisCura-SAVCA South African Private Equity Performance Report.
As African private equity markets evolve, the ‘sweet spot’ is to be found at the smaller end of the deal size spectrum, according to Nick Tims, managing director in the client group at Investec Asset Management.
Advanced Finance & Investment Group (AFIG Funds) has signed a strategic partnership agreement with the Bourse Régionale des Valeurs Mobilières (BRVM), the regional stock exchange for UEMOA (the West African Economic and Monetary Union), for the financing of private companies via the stock exchange.
The African Private Equity and Venture Capital Association (AVCA) has launched the Francophone Africa-focused Legal & Regulatory Committee, a sub-Committee of AVCA’s Legal & Regulatory Committee (L&R Committee).
The African Private Equity and Venture Capital Association (AVCA) has launched the Stakeholder Advocacy and Communications Committee (SACC), an advisory group that will work with AVCA to advance and promote its advocacy-led stakeholder engagement.
Capital Trust Group has received the Malta Financial Services Authority (MFSA) approval for its EuroMena III fund to be regulated under the de-minimis AIFMD (Alternative Investment Fund Managers Directive), making it one of the first funds in the region to be regulated by a European governing body.
The value of global private equity deals targeting Africa has more than doubled (137%) in the first half of 2014 compared to the same period last year, according to research by global law firm Freshfields Bruckhaus Deringer.
The private equity asset class in South Africa continues to deliver a sturdy performance with funs yielding an annualised rate of return of 18.6% over the ten years to the end of June 2014, according to the latest RisCura-SAVCA South African Private Equity Performance Report.
I find AGF’s content to be well-written, interesting and highly informative. AGF is able to attract leading figures in the African fund market for exclusive insights and opinion articles that are difficult to find elsewhere.
Joe Greenwell Business Development Director - Augentius
Finding the news behind the news has always been the challenge, but Anna and her team always seem to pull it off. The AGF website, e-newsletter and monthly magazine are read by the whole Phatisa team; well-written, African private equity news not found elsewhere. We are proud to be affiliated with such a young, ambitious and driven media team and wish them only the best.
Stuart Bradley Joint Managing Partner - Phatisa
We find AGF a very useful publication, especially covering, as it does, all asset classes in Africa (as, uniquely, does Investec Asset Management). The public funds data and macro stats are very useful, while the articles and interviews are insightful and often cover (in relative terms) neglected markets and asset classes.
Nick Tims Managing Director
I have found the AGF monthly magazine very informative and always containing some interesting research on the Private Equity industry not found elsewhere.