Private equity: Private equity investors look to Africa

A growing number of private equity firms are popping up in Africa, and are not just focusing on South Africa, as has traditionally been the case. Cynthia Hostetler, vice-president for investment funds for the US Overseas Private Investment Corporation, says that although private equity in Africa is still nascent compared with the US and western Europe, more and more pan-African private equity firms are appearing. Opic has made board commitments of more than $500 million over the past four years, and plans to make additional investments in private equity in Africa through two new initiatives.