With Africa playing catch-up on developed countries and other emerging markets, it’s easy to focus on the infrastructure projects or the big consumer market plays. And at the other end of the spectrum, for (really) small investments, there’s microfinance.
That leaves something of a “forgotten middle”: African SMEs with the potential for high growth but are not big enough to get on the radar of most western investors, and have trouble getting lending from local banks.
Large private equity funds in Africa will, by virtue of their size, grab the attention. For example, in May, Brazilian billionaire André Esteves launched the biggest private equity fund for Africa, promising to raise at least $1bn for investments in energy and infrastructure.
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