x

Africa’s Private Investments To Hit $8.5bn In 2022 – Report

Private capital investments in Africa may hit record highs this year, reaching $8.5 billion, and higher for the next three years as money floods into Africa-focused funds and new projects, a report of research by World Mobile has shown.

The firm is a blockchain-based mobile network operator which did a study among senior executives at venture capital and private equity companies across the UK, US, the Middle East, Singapore, Hong Kong, France, and Germany.

The report however said failure to improve connectivity could damage investment growth.

Report of 100 senior private equity and venture capital executives interviewed from the countries showed a significant investment this year. 429 private capital investments worth $7.4bn were recorded last year in Africa, according to the African Private Equity and Venture Capital Association (AVCA). Africa-focused funds across the entire range of private capital also attracted $4.4bn. That amount was also a new high and 63% above the average of $2.5bn for the past five years.

Two out of three (63%) respondents in the latest study believe private capital investments will rise to $8.5bn or more this year while 68% forecast the total will reach $10bn a year by 2025.

About 66% expect Africa-focused funds to raise $4.5bn or more this year while 53% predict the annual funds raised will exceed $6bn a year by 2025.

More than half (53%) of the respondents said the spread of internet access across the continent will dramatically increase investment over the next five years.

World Mobile is one of the major innovators revolutionising internet connectivity in Africa and is already working with the government in Zanzibar. It plans to expand and is in talks with the governments of Tanzania and Kenya.

Commenting, CEO of World Mobile, Micky Watkins, said: “Africa is already experiencing a boom in private capital investment with last year seeing record highs in funding for projects and money raised by funds.”

Hot this week

University Education Transformation Requires Collective Effort — Fagbemi

By Noah Ocheni, LokojaThe Attorney General of the Federation...

Hajj 2026: Dual 23kg Luggage Policy Sparks Logistical Concerns

By Ibrahim Muhammad The newly introduced luggage policy for the...

BREAKING: Police Arrest Omoyele Sowore at Abuja Court

Human rights activist and publisher, Omoyele Sowore, was arrested...

Taiwan elects new pro-Mainland China leader of KMT party

By Daybreak NigeriaNewly elected opposition Kuomintang (KMT)...

North Central Development Commission Condoles with Senator Abba Moro Over Death of Son, Grandson

By Abel Zwanke, LafiaThe Managing Director and Chief Executive...

China: Africa’s Most Reliable Companion on Africa’s Path to Development

By:-H.E. Ambassador JIANG Feng, Head of the Mission of the People’s Republic of...

Kano Speaker Falgore Hails Kwankwaso as a Beacon of Hope on His Birthday

By Jabiru Hassan, KanoThe Speaker of the Kano State...

BREAKING: Police Arrest Omoyele Sowore at Abuja Court

Human rights activist and publisher, Omoyele Sowore, was arrested...

Truck Crushes Female Federal University Lokoja Lecturer to Death in Lokoja

By Noah Ocheni, LokojaA female lecturer at the Federal...

KADMAM-CSO Urges Transparent Use, Community Monitoring of N32.9bn Basic Health Care Fund

By Achadu Gabriel, KadunaThe Maternal Accountability Mechanism in Kaduna...

Dencia Weighs In on Regina Daniels, Ned Nwoko Marriage Drama

Cameroonian singer and entrepreneur, Dencia, has reacted to the...

Related Articles

Popular Categories

spot_imgspot_img