Impact on the production of key agricultural commodities
The map below illustrates some of the anticipated impacts in Africa at a country level. While drought conditions have affected Southern and Eastern Africa, a number of areas have experienced above-average rainfall. High rainfall may favour the production of certain crops, but an erratic pattern complicates planting and harvesting seasons, and flooding...
The high-level impact and ongoing effects of El Niño
The humanitarian impact and the economic ripple effects of El Niño are both numerous and interlinked. In an increasingly globalised and integrated world, disentangling and insulating individual effects on a country, population segment, or sector-basis is, therefore, difficult. However, a number of higher-level conclusions and forecasts can be made...
Private Equity Sector Focus
Although there has been a downward trend in activity over the past year, the consumer discretionary sector has continued to attract interest from investors, making up 22% of all transactions in 2015. A private equity sector focus of particular interest over the past few years has been online retail, education services such as tertiary...
Private Equity Sector Focus 2016
Although there has been a downward trend in activity over the past year, the consumer discretionary sector has continued to attract interest from investors, making up 22% of all transactions in 2015. A private equity sector focus of particular interest over the past few years has been online retail, education services such as tertiary...
Listed EV/EBITDA Multiples 2016
Following the volatility of listed multiples post the financial crisis, the developed, African and BRICS markets’ multiples appear to be moving much more closely in line with one another. Valuations of African markets have dipped marginally below the other markets through 2015 as a result of negative sentiment to emerging markets globally. African...
SA Private Equity records a decade of market outperformance
The latest RisCura-SAVCA South African Private Equity Performance Report, for the fourth quarter of 2015, shows that South African private equity outperformed the South African listed equity market over a ten, five-and three-year period to 31 December 2015. The report, which tracks a representative basket of private equity funds in South Africa,...
A big year for private equity fundraising in Africa
Despite the recent turmoil in which many African countries find themselves, global investors showed strong interest in investing in Africa’s real economy, as evidenced by the increase in private equity fund raising in 2015. Total value of Africa PE funding, by year of final close*, was US$ 4.3billion. This is according to Bright Africa, the...
Tough at the top
Size playing a significant role in the price of Africa private equity deals. Over 30% of reported Africa private equity (PE) transactions in 2014 and 2015 took place at greater than a 10x EBITDA multiple*, a strong increase over earlier periods. Between 2009 and 2013, for example, more than half of PE transactions took place...
Investability of Africa’s listed markets
Indices provided by data vendors are used by institutional investors as proxies for African markets by return (performance benchmarking), valuation, liquidity and diversification to assess Africa’s Listed Markets Investability. There are numerous choices as most are designed for a specific type of investor, as well as what their perceived idea...
