Finance(Ecofin Agency) - The report points out that persistent global macroeconomic uncertainties have prompted most private equity funds active on the continent to exercise caution, opting for smaller ticket sizes. Local and international private equity firms injected $2.2 billion into African companies in the first half of 2023, according to a report published on August 7 by the African Private Equity and Venture Capital Association (AVCA). Increased interest for private debt fundsA sectoral breakdown of investments reveals that financial services attracted 31% of the total amount injected by private equity funds into African companies. The report also reveals that fund managers dedicated to Africa raised a total of $2.3 billion in the first six months of 2023. In the first half of 2023, private debt funds raised $400 million in final close, three times the amount raised in 2022.

Source: The North Africa Journal August 24, 2023 17:55 UTC