Tuesday, March 30, 2021 / 11:45 AM / By Chijioke Ohuocha of
Reuters / Header Image
private equity raised less cash for investments in 2020 compared with the
previous year as a result of the economic fallout of the COVID-19 pandemic, the
African Private Equity and Venture Capital Association (AVCA) said.
equity funds investing on the continent raised $1.2 billion last year, down
from $3.9 billion the previous year, AVCA said in its Annual African Private
Equity Data Tracker seen by Reuters on Tuesday.
private equity raised $4.3 billion in 2015.
saw a decrease in fundraising numbers, as a result of the economic effect of
the pandemic," the association said.
coronavirus pandemic has stalled Africa's growth momentum. Though the continent
has started to recover, although with regional disparities, full recovery is
difficult to predict, the AVCA said.
total value of private equity deals in Africa dropped to $3.3 billion last
year, from $3.8 billion in 2019, due to the pandemic, the AVCA said.
announced during the period included Helios Investment Partners' agreeing to
acquire a stake in Africa Specialty Risk Group and Old Mutual Alternative
Investments buying a stake in Sifiso Learning Group of South Africa.
said deals in technology-enabled companies accounted for more than half of the
total deals in 2020. Healthtech, fintech, edtech and agritech were among the
pandemic and subsequent lockdown restrictions showcased the viability of some
sectors and presented new investment opportunities."
total of $18.1 billion was raised by African private equity funds between 2015
and 2020, AVCA said. There were 1,257 private equity deals worth $21.7 billion
during that period, the association added.
The post African Private Equity Fundraising Fell in
2020 Due to Pandemic first appeared in Reuters.com on March 30, 2021.
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