Raising the Heat: Exploring Climate-consciousness in African Private Equity

Published: 22 April 2020

Now more than ever, we can feel the effects of climate change around us. Even though Africa’s private capital market is aware of the potential climate-risks on the investment being made, what steps are being taken to incorporate climate change into investment decisions? In this new report, we surveyed 45 investors, who are active in African PE on what their climate-change investment concerns were and how they are mitigating these risks, and also present examples of climate-conscious investment opportunities and challenges in Africa.

Private Equity and Venture Capital in Nigeria: Technology on the Rise

Published: 13 September 2019

AVCA is pleased to present its latest report highlighting the rise of private investments in Nigeria's tech-enabled startups.

AVCA Private Credit Strategies in Africa

Exploring the Market's View

Published: 28 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.

AVCA 2019 Institutional Investors Report

Published: 30 January 2019

Using data from AVCA's upcoming institutional investors Directory, this report provides an overview of Insitutional Investors actively investing in Africa.

African PE & VC Performance Benchmark Q2 2018

Published: 30 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.

African PE & VC Performance Benchmark (Q1 2018)

Data as of March 2018

Published: 25 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.

Africa Private Equity-backed IPOs 2010–2017

AVCA and PwC's Inaugural report analysing exits of African private equity (PE) portfolio companies on the global capital markets.

Published: 21 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.

African PE & VC Performance Benchmark (Q4 2017)

Data as of December 31st 2017

Published: 21 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.

2018 Africa Sustainability Study: Creating Value Through Corporate Governance

15th Annual AVCA Conference, Marrakech, Morocco

Published: 24 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.

PE Exits in Africa 2018

15th Annual AVCA Conference, Marrakech, Morocco

Published: 24 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.

Sector Snapshot: Infrastructure

Published: 23 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.

Volatility and Uncertainty: How African Private Equity Navigates Through Turbulent Times

AVCA Special Report

Published: 30 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.

Key Findings and FAQs: African PE & VC Performance Benchmark - Q1 2017

Q1 2017

Published: 26 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.

Key Findings and FAQs: African PE & VC Performance Benchmark

Q4 2016

Published: 27 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.

Key Findings and FAQs: African PE & VC Performance Benchmark

Q3 2016

Published: 15 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.

PE Exits in Africa 2017

14th Annual AVCA Conference, Abidjan, Ivory Coast

Published: 5 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.

2017 Africa Sustainability Study: ESG, Job Creation and Job Quality

14th Annual AVCA Conference, Abidjan, Côte d'Ivoire

Published: 4 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.

Sector Snapshot: Infrastructure

14th Annual AVCA Conference, Abidjan, Côte d'Ivoire

Published: 4 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.

Key Findings and FAQs: African PE & VC Performance Benchmark

Q2 2016

Published: 7 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

Key Findings and FAQs: African PE & VC Performance Benchmark

Q1 2016

Published: 30 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

Africa Sustainability Study: Job Creation

Published: 27 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.

PE Exits in Africa 2016

Published: 27 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.

Sector Snapshot: Infrastructure

Published: 25 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.

PE Exits in Africa 2014

AVCA and EY

Published: 29 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.

Investing for Impact: A Strategy of Choice For African Policymakers

AVCA and Bridges Ventures, commissioned by The Rockefeller Foundation

Published: 25 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.

The Search for Returns: Investor Views on Private Equity in Africa

AVCA, RisCura and SAVCA

Published: 25 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.

Broadening Horizons: How do Private Equity Investors Create Value?

AVCA and EY

Published: 24 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.

New Benchmark for African Private Equity Reveals 11% Annualised Return for 10 Years September 2012

AVCA and Cambridge Associates

Published: 1 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.

Briefing notes on the implementation of AIFMD

AVCA Legal & Regulatory Committee

Published: 1 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.

Harvesting growth: How do PE Investors Create Value?

AVCA and EY

Published: 23 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.

The Private Equity Climate in Africa: Embracing The Lion

Avanz Capital in association with AVCA

Published: 1 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.