Research & Publications
12 September 2023
UNLOCKING THE POTENTIAL OF DIGITAL PAYMENTS IN AFRICA:
A Comparative Analysis of Regulatory Sandboxes and Payment Service Providers
Research & Publications
26 April 2023
2022 African Private Capital Activity Report
This report provides an analysis on the latest trends of fundraising, investments, and exits unfolding across the continent in 2022.
Research & Publications
19 April 2022
2021 African Private Capital Activity Report 
2021 AVCA’s Africa Private Capital Activity report presents the current state and recent development of private capital activity in Africa. It provides an analysis on the latest trends of fundraising, investments, and exits unfolding across the continent in 2021.
Research & Publications
23 June 2021
African PE & VC Performance Benchmark Q4 2020
This report presents the private equity and venture capital performance across Africa in Q4 2020. The publication was produced by Cambridge Associates in collaboration with AVCA
Research & Publications
23 June 2021
African PE & VC Performance Benchmark Q3 2020
This report presents the private equity and venture capital performance across Africa in Q4 2020. The publication was produced by Cambridge Associates in collaboration with AVCA
Research & Publications
26 October 2017
Key Findings and FAQs: African PE & VC Performance Benchmark - Q1 2017
A summary of the key findings and frequently asked questions (FAQs) about the Q1 2017 African PE & VC Performance Benchmark, published by AVCA exclusively for AVCA members.
Research & Publications
28 September 2017
African PE & VC Performance Benchmark Q1 - 2017
AVCA is pleased to announce the release of the African PE & VC Performance Benchmark (Q1 2017), produced by Cambridge Associates, in collaboration with AVCA.
Research & Publications
29 July 2017
African PE & VC Performance Benchmark
AVCA is pleased to announce the release of the final 2016 African PE & VC Performance Benchmark, produced by Cambridge Associates, in collaboration with AVCA.
Research & Publications
27 July 2017
Key Findings and FAQs: African PE & VC Performance Benchmark
A summary of the key findings and frequently asked questions (FAQs) about the final 2016 African PE & VC Performance Benchmark (Q4), published by AVCA exclusively for AVCA members.
Research & Publications
15 May 2017
Key Findings and FAQs: African PE & VC Performance Benchmark
A summary of the key findings and frequently asked questions (FAQs) about the African PE & VC Performance Benchmark, published by AVCA exclusively for AVCA members.
Research & Publications
5 April 2017
PE Exits in Africa 2017
AVCA is pleased to announce the publication of the 2017 Exit Study, How private equity investors create value. Presented by EY and AVCA, the study examines PE exits between 2007–16 using data drawn from both public sources and confidential interviews with former PE owners of exited businesses.
Research & Publications
7 February 2017
Key Findings and FAQs: African PE & VC Performance Benchmark
A summary of the key findings and frequently asked questions (FAQs) about the African PE & VC Performance Benchmark, published by AVCA exclusively for AVCA members.
Research & Publications
26 January 2017
African PE & VC Performance Benchmark, Q3 2016
AVCA is pleased to announce the release of the latest African PE & VC Performance Benchmark, produced by Cambridge Associates, in collaboration with AVCA.
Research & Publications
1 November 2016
AVCA Spotlight on North Africa Private Equity
AVCA is pleased to announce the publication of the Spotlight on North Africa Private Equity. The report provides a summary of recent private equity transactions, exits and fundraising activity in the region. Our findings reveal that 156 PE deals were completed in the region between 2007 and 2014 with a combined value of US$5.3bn.
Research & Publications
27 April 2016
PE Exits in Africa 2016
AVCA is pleased to announce the publication of the 2016 exit study, How private equity investors create value. Presented by EY and AVCA, the study examines PE exits between 2007–15 using data drawn from both public sources and confidential interviews with former PE owners of exited businesses.
Research & Publications
1 April 2016
African PE & VC Performance Benchmark, Q3 2015
AVCA is pleased to announce the release of the latest African PE & VC Performance Benchmark, produced by Cambridge Associates, in collaboration with AVCA.
Research & Publications
1 November 2015
AVCA Spotlight on North Africa Private Equity
AVCA is pleased to announce the publication of the Spotlight on North Africa Private Equity. The report provides a summary of recent private equity transactions, exits and fundraising activity in the region. Our findings reveal that 156 PE deals were completed in the region between 2007 and 2014 with a combined value of US$5.3bn.
Research & Publications
29 April 2015
PE Exits in Africa 2014
The update to the 2013 AVCA and EY’s study Broadening horizons: how do private equity investors create value? highlights a strengthening market for private equity exits in Africa. Private equity firms exited 40 companies between 1 January and 31 December 2014, a 38% increase from 29 exits in 2013.
Research & Publications
24 April 2014
Broadening Horizons: How do Private Equity Investors Create Value?
This is the second of our annual studies of how private equity (PE) investors create value in Africa. In our inaugural report, we countered popular opinion about PE in Africa to prove that the industry was making excellent progress in exiting its portfolio companies. We also provided evidence of genuine value creation by PE firms in the region through hands-on involvement in the companies they back.
Research & Publications
1 October 2013
New Benchmark for African Private Equity Reveals 11% Annualised Return for 10 Years September 2012
This is the first quarterly report of the Cambridge Associates LLC African Private Equity and Venture Capital Index, a collaboration between the African Venture Capital Association (AVCA) and Cambridge Associates, the global investment advisor that maintains databases and tracks performance data of private investments around the world.
Research & Publications
23 April 2013
Harvesting growth: How do PE Investors Create Value?
This joint research piece, looking at value creation through exit deals across Africa, provides an answer to the commonly asked question “are there exits in Africa?” The continent’s stock markets, other than the Johannesburg Stock Exchange, are still very small and relatively illiquid, and the intermediary networks remain far from complete across the region. As a result, a widely held perception is that exits are hard to achieve and that therefore they are few in number. However, our analysis points to a higher level of exit activity than might be expected.