Opinion

Partners in Africa: key to success or failure?

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It’s no secret that sub-Saharan Africa has seen significant growth over the last decade. There may have been bumps on the road, but the trend is set to continue. The US private equity group, Carlyle is a case in point. In April of last year it closed its maiden private equity fund focussed on sub-Saharan Africa at nearly $700m, 40% above target. Last November, it announced its first investment in Nigeria, taking an 18% stake in Diamond Bank. And, the same week saw another first for Carlyle, this time in South Africa, where it acquired TiAuto in a deal thought to be worth about $182m.