The investment potential in Africa has long been talked about, and, as regional private equity firms begin to convert their local knowledge of Africa's subcontinent into cash, there is evidence that talk is turning into reality.
Johannesburg-based White & Case partner Joshua Siaw joined a Euromoney roundtable forum to discuss the private equity investment potential of Africa.
"Around five years ago most private equity investments from foreign investors were predominantly focused on South Africa and Nigeria but more recently we have observed an increased interest from private equity investors in countries that have recently discovered natural resources," said Joshua Siaw.
"Let's take oil and gas as an example. In the last few years, countries such as Ghana, Uganda, the Ivory Coast, Mozambique, Tanzania and Kenya have discovered large quantities of oil and gas. And there seems to be an increase in the interest from private equity investors in these countries – not only in the oil and gas assets themselves, but also in the surrounding services sectors."