287 private capital deals were concluded in Africa in 2024 YTD, just shy of the 5-year average of 294 deals despite an 11% YoY decline. The volume highlights Africa’s sustained investment appeal despite global headwinds.

This series offers an overview of Africa's Private Capital Activity, with this report highlighting key trends in investments, exits, and fundraising observed during the second quarter of 2024.

This series offers an overview of Africa's Private Capital Activity, with this report highlighting key trends in investments, exits, and fundraising observed during the first quarter of 2024.

This report marks the first in a new series examining private capital landscapes across Africa's diverse regions. Focused on Southern Africa, this premier edition coincides with AVCA’s landmark 20th Annual Private Equity Conference and Venture Capital Summit in Johannesburg, South Africa.

Agrigroupe Energy Holdings and its underlying investors acquired POWERX to facilitate renewable energy trading in South Africa as the market liberalized and opened up to new traders and emerging renewable IPPs. PowerX’s first mover advantage and unique regulatory status catalysed the development and trading of renewable power in South Africa. 

The investment into Visiosoft transforms infrastructure into reliably smart assets, resulting in intelligent utilisation of resources. This has enabled optimized use cases for energy and water management in both commercial and industrial sectors, alongside enhancements in safety measures.

Nature’s Nectar adopts an inclusive model for women beekeepers, aiming for 50% female participation. The company’s efforts also extend to increasing rural incomes and improving health and safety standards within the Zambian beekeeping community. By offering commercially designed hives known for their long-term sustainability, Nature’s Nectar contributes to reducing deforestation. The company’s initiatives are geared towards uplifting local communities, promoting self-sufficiency and positively influencing the wellbeing of residents in often overlooked areas. It also maintains a transparent supply chain with gender-wage equality across all levels.

The investment aims to significantly contribute to SDG 7 (Affordable and Clean Energy) and SDG 13 (Climate Action) by substantially increasing the share of renewable energy in the energy mix with a portfolio of 6GW of renewable energy assets by 2030.At the same time, it will contribute to achieving improved livelihoods through the provision of decent work and gender equality.

The investment focuses on growing the regional labour market, developing human capital, and solidifying the sector’s GDP contribution. It aims to improve the quality of Namibia’s hospitality to attract high-value, long-haul markets and diversify source markets for resilience. Additionally, it involves partnering with Namibian authorities to promote Namibia via Accor’s distribution platform and expertise, aiding in enhancing “Brand Namibia.”

Yellow is a specialised credit provider that enables consumers across five African markets to acquire small off-grid solar systems and smartphones. In 2023, CPDIF injected US$10mn in growth capital to fuel Yellow’s growth and enhance its geographic expansion. 

Founded in 1985, Tessara operated for many years with a single flagship product, Uvasys, the world’s first laminated SO2-generating sheet designed to protect table grapes from post-harvest decay. Since partnering with the Alterra team in 2018, Tessara has broadened its horizons, expanding its innovative solutions to include additional agricultural products (e.g., berries, flowers and tomatoes). Moreover, the company has achieved a significant milestone by developing and bringing to market another recyclable product.

The report provides analysis on the latest trends of fundraising, investments, and exits within African Private Capital Activity in Africa, shedding light on the recent developments that took place during 2023.