Published: March 2019
This edition of AVCA's Annual African PE Data Tracker highlights a rising trend in PE investments in Africa's information technology sector, and persistent interest in the consumer discretionary and consumer staples sectors in 2018. For the first time, the report also include exit data along with regional spotlights and case studies.
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Published: February 2019
AVCA's latest report provides an insightful examination of Africa's Private Credit sector, exploring investors’ views on the opportunities and challenges currently facing the asset class.
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Published: January 2019
Using data from AVCA's upcoming institutional investors Directory, this report provides an overview of Insitutional Investors actively investing in Africa.
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Published: January 2019
This report, produced by Cambridge Associates in collaboration with AVCA, presents the private equity and venture capital performance across Africa in Q2 2018.
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Published: November 2018
AVCA is delighted to present the fifth edition of the AVCA Limited Partner (LP) Survey, which examines global investor views about private equity in Africa and return expectations in an evolving industry.
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Published: September 2018
AVCA is pleased to announce the release of the latest African PE & VC Performance Benchmark, produced by Cambridge Associates, in collaboration with AVCA.
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Published: September 2018
The African Private Equity and Venture Capital Association (AVCA) and PwC are delighted to present the first report analysing exits of African private equity (PE) portfolio companies on the global capital markets. This report provides a historic analysis of PE-backed initial public offerings (IPOs) of African portfolio companies, including companies with significant operations in Africa, between 1 January 2010 and 31 December 2017.
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Published: September 2018
AVCA’s 2018 H1 African Private Equity (PE) Data Tracker provides a provisional look at half year PE activity in Africa. PE deals remained stable and targeted in consumer-focused sectors, with a total value of US$0.9bn. The Financial sectors’ specifically, saw a 6% rise relative to 2017. Utilities also showed an increase in deal values, as a result of a handful of large transactions in the first half of this year.
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Published: June 2018
AVCA is pleased to announce the release of the latest African PE & VC Performance Benchmark, produced by Cambridge Associates, in collaboration with AVCA.
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Published: April 2018
AVCA is pleased to announce the release of the third edition of the Africa Sustainability Study. The 2018 edition explores how investors in Africa have promoted the adoption of corporate governance frameworks within their portfolio companies to drive value creation.
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Published: April 2018
AVCA is pleased to announce the publication of the 2018 Exit Study, How private equity investors create value. Presented by EY and AVCA, the study examines PE exits between 2007–17 using data drawn from both public sources and confidential interviews with former PE owners of exited businesses.
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Published: April 2018
AVCA is pleased to announce the publication of its latest report - Sector Snapshot: Infrastructure. The Snapshot provides a concise overview of private equity activity in the infrastructure sector for 2012- 2017.
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Published: March 2018
AVCA is pleased to announce the release of the latest African PE & VC Performance Benchmark (Q3 2017), produced by Cambridge Associates, in collaboration with AVCA.
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Published: March 2018
AVCA is delighted to announce the publication of the Country Snapshot: Morocco. Drawing on data from AVCA’s proprietary databases, the Snapshot provides a broad overview of the private equity landscape in Morocco.
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Published: February 2018
This edition of AVCA's Annual African PE Data Tracker highlights a sustained trend of PE investments in Africa's education and information technology sectors. We also feature the AVCA Regional Spotlights on West, Southern, North and East Africa, with legal and regulatory perspectives from the AVCA membership and key industry stakeholders.
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Published: January 2018
AVCA is pleased to announce the release of the latest African PE & VC Performance Benchmark (Q2 2017), produced by Cambridge Associates, in collaboration with AVCA.
Published: November 2017
This special report presents an exploration of the effects of currency volatility and political uncertainty on the African private equity industry, and provides insights into the strategies adopted by fund managers active on the continent to address the risks and capture the opportunities involved. It features views and experiences collected through a survey and interviews conducted with industry practitioners.
Published: October 2017
AVCA is delighted to present the fourth edition of the AVCA Limited Partner (LP) Survey, which examines global investor views about private equity in Africa and return expectations in an evolving industry. Given the evolving global geopolitical landscape, it is more important than ever to undertake investor outreach in order to identify consensus views that will impact our industry. This year’s report finds that despite its challenges, LPs continue to see the appeal of African private equity.
Published: October 2017
A summary of the key findings and frequently asked questions (FAQs) about the Q1 2017 African PE & VC Performance Benchmark, published by AVCA exclusively for AVCA members.
Published: September 2017
AVCA’s 2017 H1 African Private Equity (PE) Data Tracker provides a provisional look at half year PE activity in Africa. PE deals remained targeted in consumer-driven sectors in 2017 H1. Consumer Staples (including investments in the African packaged food industry) saw a rise relative to 2016. Telecoms and Materials also showed an increase in terms of deal values as a result of a handful of large transactions in the first half of 2017.
Published: September 2017
AVCA is pleased to announce the release of the African PE & VC Performance Benchmark (Q1 2017), produced by Cambridge Associates, in collaboration with AVCA.
Published: July 2017
A summary of the key findings and frequently asked questions (FAQs) about the final 2016 African PE & VC Performance Benchmark (Q4), published by AVCA exclusively for AVCA members.
Published: June 2017
AVCA is pleased to announce the release of the final 2016 African PE & VC Performance Benchmark, produced by Cambridge Associates, in collaboration with AVCA.
Published: May 2017
A summary of the key findings and frequently asked questions (FAQs) about the African PE & VC Performance Benchmark, published by AVCA exclusively for AVCA members.
Published: April 2017
AVCA is pleased to announce the release of the latest African PE & VC Performance Benchmark, produced by Cambridge Associates, in collaboration with AVCA.
Published: April 2017
AVCA is pleased to announce the publication of the 2017 Exit Study, How private equity investors create value. Presented by EY and AVCA, the study examines PE exits between 2007–16 using data drawn from both public sources and confidential interviews with former PE owners of exited businesses.
Published: April 2017
AVCA is pleased to announce the release of the second edition of the Africa Sustainability Study. The 2017 edition evaluates private equity’s contribution to and implementation of Environmental, Social and Governance (ESG) standards, job creation, and job quality improvements in Africa.
Published: April 2017
AVCA is pleased to announce the publication of its latest report - Sector Snapshot: Infrastructure. The Snapshot provides a concise overview of private equity activity in the infrastructure sector from 2011 - 2016.
Published: March 2017
AVCA is delighted to announce the publication of the Country Snapshot: Côte d'Ivoire. Drawing on data from AVCA’s proprietary databases, the Snapshot provides a broad overview of the private equity landscape in Côte d'Ivoire.
Published: February 2017
The 2016 Annual African Private Equity Data Tracker draws on data from AVCA’s proprietary private equity (PE) database and provides insights into key trends in PE investment and fundraising in Africa from 2011 – 2016. Our findings show that deal activity in Africa continues to be strong even in an increasingly volatile global economic environment.
Published: February 2017
A summary of the key findings and frequently asked questions (FAQs) about the African PE & VC Performance Benchmark, published by AVCA exclusively for AVCA members
Published: January 2017
AVCA is pleased to announce the release of the latest African PE & VC Performance Benchmark, produced by Cambridge Associates, in collaboration with AVCA.
Published: January 2017
AVCA is pleased to announce the publication of the Spotlight on West Africa Private Equity. The report provides a summary of recent private equity transactions and exits in the region between 2010 and 2016 H1. Our findings reveal that 249 PE deals were completed in West Africa, with a combined value of US$5.4bn.
Published: December 2016
AVCA is pleased to announce the publication of the Spotlight on Southern Africa Private Equity. The report provides a summary of recent private equity transactions and exits in the region between 2010 and 2016 H1. Our findings reveal that 277 PE deals were completed in Southern Africa, with a combined value of US$3.5bn.
Published: November 2016
AVCA is pleased to announce the publication of the Spotlight on East Africa Private Equity. The report provides a summary of recent private equity transactions, exits and fundraising activity in the region. Our findings reveal that 167 PE deals were completed in the region between 2010 and 2016 H1, with a combined value of US$1.4bn.
Published: November 2016
AVCA is pleased to announce the publication of the Spotlight on North Africa Private Equity. The report provides a summary of recent private equity transactions, exits and fundraising activity in the region. Our findings reveal that 139 PE deals were completed in the region between 2010 and 2016 H1 with a combined value of US$2.4bn.
Published: September 2016
A summary of the key findings and frequently asked questions (FAQs) about the African PE & VC Performance Benchmark, published by AVCA exclusively for AVCA members
Published: September 2016
AVCA is delighted to release the inaugural 2016 H1 African Private Equity (PE) Data Tracker. The report provides insights into key trends in PE investment and fundraising in Africa from 2010-2016 H1. Our findings show that deal activity and fundraising in Africa remain resilient.
Published: September 2016
AVCA is pleased to announce the release of the latest African PE & VC Performance Benchmark, produced by Cambridge Associates, in collaboration with AVCA.
Published: August 2016
AVCA is pleased to announce the release of the third edition of its Limited Partner Survey, which provides insights into the views, plans and expectations of a diverse range of LPs from across the globe.
Published: June 2016
AVCA is pleased to announce the release of the latest African PE & VC Performance Benchmark, produced by Cambridge Associates in collaboration with AVCA.
Published: April 2016
AVCA is pleased to announce the release of the inaugural Africa Sustainability Study: Job Creation. The study highlights the impact of Africa’s private equity industry on the development of the African continent by quantifying job creation in private equity-backed companies.
Published: April 2016
AVCA is pleased to announce the publication of the 2016 exit study, How private equity investors create value. Presented by EY and AVCA, the study examines PE exits between 2007–15 using data drawn from both public sources and confidential interviews with former PE owners of exited businesses.
Published: April 2016
AVCA is pleased to announce the publication of its latest report - Sector Snapshot: Infrastructure. The Snapshot provides a concise overview of private equity activity in the infrastructure sector from 2012 -2015.
Published: April 2016
AVCA is pleased to announce the release of the latest African Performance Benchmark, produced by Cambridge Associates in collaboration with AVCA.
Published: March 2016
AVCA is delighted to announce the publication of the Country Snapshot: Ethiopia. Drawing on data from AVCA’s proprietary databases, the Snapshot provides a broad overview of the private equity landscape in Ethiopia.
Published: February 2016
The Annual African Private Equity Data Tracker draws on data from AVCA’s proprietary private equity (PE) database and provides insights into key trends in PE investment and fundraising in Africa from 2010 – 2015. Our findings show that deal activity in Africa continues to be strong even in an increasingly volatile global economic environment.
Published: November 2015
AVCA is pleased to announce the publication of the Spotlight on West Africa Private Equity. The report provides a summary of recent private equity transactions, exits and fundraising activity in the region. Our findings reveal that 311 PE deals were recorded in the region since 2007 with a total deal value of US$6.1bn.
Published: October 2015
AVCA is pleased to announce the publication of the Spotlight on Southern Africa Private Equity. The report provides a summary of recent private equity transactions, exits and fundraising activity in the region. Our findings reveal that 341 PE deals were completed in the region between 2007 and 2014 with a combined value of US$6.7bn.
Published: July 2015
AVCA is pleased to announce the publication of the Spotlight on North Africa Private Equity. The report provides a summary of recent private equity transactions, exits and fundraising activity in the region. Our findings reveal that 156 PE deals were completed in the region between 2007 and 2014 with a combined value of US$5.3bn.
Published: April 2015
The update to the 2013 AVCA and EY’s study Broadening horizons: how do private equity investors create value? highlights a strengthening market for private equity exits in Africa. Private equity firms exited 40 companies between 1 January and 31 December 2014, a 38% increase from 29 exits in 2013.
Published: April 2015
AVCA is pleased to present the second edition of the Limited Partner Survey. The purpose of this report is to provide stakeholders with views, plans and expectations on private equity in Africa from the Limited Partner’s (LP’s) across the globe.
Published: March 2015
AVCA is pleased to announce the publication of the Spotlight on East Africa Private Equity. The report provides a summary of recent private equity transactions, exits and fundraising activity in the region. Our findings show that PE activity in East Africa is rising with 158 reported transactions between 2007 – 2014 and deal values totaling US$1.5bn.
Published: February 2015
The African Private Equity Data Tracker draws on data from AVCA’s proprietary private equity (PE) database and provides insights into key trends in PE investment and fundraising in Africa from 2007 – 2014. Our findings show that deal activity on the Continent remains strong with US$8.1bn worth of deals completed in 2014 - the second highest on record.
Published: April 2014
Over the last decade, the main driver of economic progress across the African continent has arguably not been Official Development Assistance flows but growth, underpinned by private sector activity. This trend is set to continue, with private capital forecast to be the most important source of long-term finance. At the same time, an increase in the levels of social inequality and environmental degradation in many African countries has underscored the importance of a more inclusive model of progress. Impact investment is a strategy to align the power of private markets to the social and environmental development needs of society at-large.
Published: April 2014
AVCA, RisCura and SAVCA are pleased to present the first edition of The search for returns: Investor views on private equity in Africa report. The purpose of this report is to provide stakeholders with views on private equity in Africa from the Limited Partner’s (LP’s) perspective.This study examines future investment plans into African private equity, the region’s relative attractiveness, expected return drivers, preferred investment vehicles,and the challenges to investing in the region.
Published: April 2014
This is the second of our annual studies of how private equity (PE) investors create value in Africa. In our inaugural report, we countered popular opinion about PE in Africa to prove that the industry was making excellent progress in exiting its portfolio companies. We also provided evidence of genuine value creation by PE firms in the region through hands-on involvement in the companies they back.
Published: October 2013
African private equity funds outperformed US venture capital over last decade, discloses benchmark return data by the African Venture Capital Association and Cambridge Associates.
Published: September 2013
In the past, private offerings of alternative investment funds (“AIFs”) in the EEA have not required the burdensome regulations that accompany public offerings. The implementation of the Alternative Investment Fund Managers Directive 2011/161/EU will substantially change the regulatory considerations underlying previous private placements in the EEA.
Published: April 2013
This joint research piece, looking at value creation through exit deals across Africa, provides an answer to the commonly asked question “are there exits in Africa?” The continent’s stock markets, other than the Johannesburg Stock Exchange, are still very small and relatively illiquid, and the intermediary networks remain far from complete across the region. As a result, a widely held perception is that exits are hard to achieve and that therefore they are few in number. However, our analysis points to a higher level of exit activity than might be expected.
Published: August 2012
Often referred to as the ‘final frontier’ market by private equity investors, Africa is showing signs of promise due to its rapidly improving economic environment, favorable demographics and growing private sector business activities. Investors who are diligent in their research of investment opportunities have been able to realize outsized returns while minimizing perceived risks. Opportunities exist across the continent, which has been largely overshadowed as an emerging markets private equity destination by hot BRIC markets.
Don’t miss the panel featuring Charles Mwebeiha, Managing Director at Sango Capital, at @AVCA_Africa 16th Annual Co… https://t.co/RqDOa2zVtZ
@EducateGlobal invests in East African businesses with direct impact on young people’s educational outcomes. Find o… https://t.co/08IV0LDytS
West Africa may not have the most reported PE deals (282) during the 2013-2018 period, but it is a vibrant region i… https://t.co/CzbVKqjDDU
Karima Ola, Partner @LeapFrogInvest is part of the panel discussing private equity exits across Africa. Join 400+ i… https://t.co/YaxO6lgYk8
Hear the discussion on the role of DFI investors in Africa, moderated by Genevieve Sangudi, Managing Director… https://t.co/kUaOZNHLYU
