Africa’s attractiveness vs. other emerging markets

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Over two thirds of the surveyed limited partners believe that Africa is more attractive compared to other emerging markets. One fifth of the respondents said that Africa’s attractiveness is on par with other emerging markets, while 10% of surveyed limited partners feel that Africa lags other emerging markets in attractiveness due to the relatively nascent stage of the industry on the continent.

Attractiveness of Africa compared to other emerging markets

By investor group

By location

By location excl. DFIs

By location excl. FoFs

By location excl. DFIs and FoFs

Within the limited partner categories, all FoFs and DFIs surveyed, as well as more than 80% of pension funds and other LPs, said African private equity was as attractive or more attractive than other emerging markets private equity.

Within the regional subgroups, African limited partners were the most bullish about their continent, with more than 80% of African limited partners stating that Africa was more attractive than other emerging markets. Global investors were more cautious, but still approximately 90% of these respondents said that African PE was at least as attractive as other emerging markets.

The majority of limited partners believe Africa is more attractive relative to other emerging markets. Limited partners’ views are mixed when it comes to identifying the most attractive region within the continent. 24% of surveyed limited partners think Sub-Saharan Africa (as a whole) is the most attractive proposition, another 24% believe West Africa is the most attractive region, while 29% of limited partners are of the opinion that there is no single most attractive region.

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