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Commercial News from Africa
Growth in the financial services sector in Africa has been breath-taking, outpacing GDP in many markets.
Much of the growth can be attributed to financial reform: one example is Nigeria, where banking reforms in 2004 led to bank asset growth of 59 percent per year through 2008. Others factors include a rising sophistication among African banks as they court investors.
As such, financial services are a hot investment area, and one that is a particular focus of private equity firms operating in Africa. An Ernst & Young study found that the sector accounted for by far the highest incoming investment values and the highest proportion of exits in the past five years. All in, financial services captured 13 percent of private equity investment capital in Africa in 2013.
Key commercial and political activity in Africa for private equity investors by DCE Partners, UK Private Equity advisors to Atta.