(Ecofin Agency) - Companies operating in Africa raised a total of $337.7 million in private equity investments in June 2020, we learned. This does not include the asset management subsidiary of Investec (Ninety One) and the $597 million fund launched by the South African Ethos Private Equity.
The largest fundraising over the period was the 131.7 million made by Sanlam for its three funds targeting South African companies affected by covid-19. It was followed by the $90 million raised by the fourth AfricInvest fund for Africa thanks to contributions from Proparco, the International Finance Corporation, and Development Finance Corporation.
While many African countries have followed the international movement by reopening their economies, investors are positioning themselves to take advantage of the opportunities for economic recovery in the region. Currently, several of them are development finance institutions. Also, a significant share of these resources has been provided by entities based in Africa.