Most private equity investors consider SA as one of their top choices on the continent
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A majority of private equity investors see South Africa and Kenya as their top investment destinations over the next three years even as US President Donald Trump's tariff chaos muddies fund-raising outlook for the continent in 2025, according to the African Private Capital Association.
More than 65% of the general partners at private equity firms identified the two nations as their preferred choice in a survey conducted by the association. About 50% of the respondents also named Egypt and Nigeria, the London-based association said in a report distributed at a conference in Lagos on Monday.
Still, more then a third were pessimistic about raising funds this year because of depreciating currencies in countries on the continent and Trump's policies, according to the survey.
"Exchange rate volatility on the continent remains high on the list," emerging as the top concern of 84% of the respondents, according to the report. "America-first investment approach, which may have significant impact on foreign investments by US-based investors," was the second concern, expressed by 59% of investors, it said.
Inflows of venture-capital funding for African startups dropped 22% to $3.6 billion last year, the association said in a separate report earlier this month. Trump's tariffs upended global markets spurring investors to shun risky assets. The US president announced this month he'll apply tariffs of at least 10% on most goods coming into the US to counter trade imbalances, with higher duties on some 60 nations before pausing them for 90 days.
The survey found that "over the next three years, energy, healthcare and consumer goods will be key priority sectors for GPs in Africa, reflecting a strategic shift in focus driven by both global trends and local market dynamics," according to the report.
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