Private Equity Multiples in Africa by Price Range
Pre-2012 is characterised by smaller EV/EBITDA multiples, with 34% of transactions in Africa taking place in the 2.5x-5x bracket. Conversely, 74% of post-2012 transactions have taken place at above 5x. While the trend is in line with global activity whereby most of post-2012 transactions are in the higher brackets, the proportion of transactions occurring...
RisCura wins third consecutive accolade for private equity service provider excellence in Africa
The Africa Global Funds Africa Service Providers Awards has revealed its winners for 2018 with RisCura placing first in two categories; Advisory services: private equity and Research and data provider: private equity. These awards set out to annually recognise service excellence in Africa, celebrating the ongoing efforts of fund service providers operating...
Sukuk – a new avenue for funding African infrastructure
In generic terms, economic theory categorises infrastructure assets, as public goods. This means a good or service that is provided without profit to all members of society. The absence of the profit incentive (by default), has placed the provision of public goods or services in the laps of governments, to be paid for by tax...
South Africa no longer dominates private equity transaction in Africa
Private equity investors are shifting their focus away from South Africa and finding opportunities to capture growth in the rest of the continent. According to the 2018 Bright Africa Report, produced annually by RisCura, South Africa has always made up a large proportion of private equity (PE) transaction activity. However, this concentration has reduced...
Credibility of PE impact investing in Africa
Despite being only a decade old as an industry, impact investing globally has shown impressive growth and obtained mainstream acceptance. However, there are some credibility concerns, particularly in Africa, that can be addressed with clear industry guidelines. This could help to accelerate the allocation of investors’ capital into impact investments....
Investing into private equity for African institutions
Institutional investment is a key driver of the development of capital markets. But, in many parts of Africa, institutional investment has been slow to develop and development finance institutions (DFIs) have long filled this gap. In recent years, pension reform in many countries has driven the creation of more reliable forms of savings for individuals....
Bright Africa continues to shine
Africa continues to turn global investors’ heads, despite its challenges. Attracted by its many fast growing economies and burgeoning consumer and business spending – expected to reach US$6.7 trillion by 2030 – savvy investors are finding opportunities on the continent. Where to start when looking to invest in Africa? First time investors may...
The Retirement Journey – Cradle to Grave
Ideally, you should have a stable income to maintain your standard of living throughout your retirement. This is the gold standard for retirement. However, since the South African retirement industry largely abandoned defined benefit (DB) funds in favour of defined contribution funds, this goal has been difficult to achieve. In the living annuity space,...
Why women need to save more for retirement
Women, on average, live five years longer than men. This means their retirement savings need to last them – on average – five years longer. It’s an important message that doesn’t seem to have hit home yet: women need to save more for retirement than men do. And, given the societal and workplace challenges women...
Changing Africa’s infrastructure funding’s status quo
In a recent conference on funding infrastructure in Africa held in London, the premier destination for conferences about Africa, a fellow speaker lamented the lack of solutions these events yielded. His observation was that the talking points and conclusions at these events always appear to be the same, but that solutions seem few and far...
