“It is quite dangerous to think of Africa as an asset class because doing a project in Nigeria is different from a manufacturing deal in Egypt or a hospital deal in Kenya.
One of the things that concerned me a bit about our industry and generally the approach to private equity in Africa is that people tend to take a blanket approach to the continent. The idea that there is a big diversified Africa fund, and they were going to do everything within that fund while targeting thirty to forty countries at a time. From my experience, I felt that that was probably not the best approach.
If you look globally at the successful private equity players sector-focused funds had significantly higher returns than general funds.”
I also increasingly felt that the healthcare sector was being under-invested, which was a shame since the healthcare sector is among the areas where you can have financial investments that have significant and lasting social impacts.
My vision was to bring a disciplined sector focus in healthcare and consumer healthcare sectors.”
Full article will launch as part of the Future of Finance Special Report in November 2019.
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