What happens when African governments focus on the implementation of business-friendly policies and reforms? Foreign private equity funds investing in the continent increase by 51% to nearly US$3.9 billion, that’s what.
According to an AFKInsider report, this record-breaking figure in 2015 (up from the US$2.57 billion raised in 2014) is the result of Africa’s fundraising industry – mostly targeted at technology – as global investors discover the sector’s business opportunities. Among the funds that closed last year are Abraaj Group’s North Africa Fund II, which raised US$375 million by August 2015 (US$125 million above its target), while Helios Investors III reached US1.1 billion (after targeting US$900 million).
Furthermore, another record was set in the number of private equity exits in Africa, with 40 announced by funds affiliated to African Private Equity and Venture Capital Association. According to the latter, nearly 250 private equity exits took place on the continent between 2007 and 2014.
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