Investment in Africa is on the upswing, according to a report on Reuters covering a recent PE industry conference on the topic. Elsewhere, we found some new data. A study released last month by Africa Assets and Deloitte, titled “The 2011 East Africa Private Equity Confidence Survey,” revealed that East Africa is a focus for private equity investment in the near future.
New East Africa-focused funds will be targeting high-growth small and medium enterprises in consumer-driven sectors. This is slightly different that the more traditional infrastructure, telecommunication healthcare focus for PE.
About 53 funds are targeting East Africa this year and around 30 have already opened offices. Together they have raised approximately USD 633million Kenya and the region has in the recent past experienced an influx of Private Equity, with large and relatively lower amounts.