Africa’s private investments to hit $8.5bn in 2022 – Report

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.

Source link

Related post

Robert Kiyosaki Predicts US Dollar Will Crash by January — Suggests Buying Bitcoin – Economics Bitcoin News

Robert Kiyosaki Predicts US Dollar Will Crash by January…

The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has predicted that the U.S. dollar will crash…
Online cryptocurrency exchange Binance registers in New Zealand

Online cryptocurrency exchange Binance registers in New Zealand

Binance’s existing customers will now access its marketplace through the New Zealand platform, where they can trade cryptocurrencies and non-fungible tokens.…
Coinbase users were unable to withdraw funds to US bank accounts for six hours

Coinbase users were unable to withdraw funds to US…

Coinbase users were unable to carry out US bank account transactions for around six hours on Sunday. An issue with the…

Leave a Reply

Your email address will not be published.