Private equity in Africa loses its shine
“Major private equity firms have seen a number of top management departures in Africa, individuals familiar with the matter said, as the funds grapple with investments hurt by a weak economy.
US firm Carlyle, Standard Chartered and emerging market-focused Actis have all seen a change of top executives at their Africa funds, according to these six individuals.
Once seen as a beacon of growth, private equity firms expanded their business in the region just before the financial crash. A weak economy and falling currencies have now taken the gloss off a decade of ‘Africa rising’ optimism.”