Over 2015’s first eight months, private equity firms injected nearly a billion dollars in Kenyan companies thus increasing 700% as compared to the same period in 2014, a recent report from corporate finance advisory firm Burbidge Capital reveals.

These investments mostly went to the finance sector which, alone, attracted 18 of the private equity transactions out of the 25 counted in Kenya from January 1, 2015 to August 31, 2015.

“Favorable demography dynamics, stable macroeconomic fundamentals, tech-based products, increase in available resources and structural gap between demand and supply are various factors which created interesting investment opportunities in the finance industry,” highlights the Burbidge Capital report authors.

Kenya’s most significant private equity transactions over the reviewed period include Norfund acquisition of 24.9% interest in banking group Equity Bank from Helios Investment Partners for $220 million, and the acquisition of share by Chinese fund Avic in real estate group Two Rivers Development for $70 million.