Fund managers need to, in the next 10 years, unlock $2.3 trillion capital inflows to Africa, Chief Executive Officer, Africa50’s Infrastructure Acceleration Fund, Vincent Le Guennou has advised.He said the traditional private equity model replicated in the continent needs to be adapted and advocated for proactive efforts to attract the $2.3 trillion of domestic capital in Africa that needs to be unlocked.
Characterised by periods of globalisation, innovation and the disruption required, the opening panel, ‘20/20 Vision: Reflections on the Last 20 years’, charted the industry’s evolution over the last two decades. ‘Tokunboh Ishmael, Co-founder and Managing Director, Alitheia Capital, described the exponential growth witnessed throughout the second decade of private capital expansion in Africa.
Pension funds in Africa were highlighted as a vital source of capital to diversify funding and bridge the finance gap. During the panel, ‘The Long and Windy Road: The Journey to a Successful Fund Close’ Dieynaba Kamara, Partner and Chief Operating Officer, Joliba Capital, expressed that most pension funds needed “education on investing in private equity as an asset class”, especially in Francophone Africa where pension funds prioritise hard assets such as real estate.
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