Unlocking Local Funding for Private Equity Investments

In Ratio Magazine:

When the African Development Bank (AfDB), the Commonwealth and the Africa Venture Capital Association (AVCA) hosted the first East Africa Private Equity Roundtable together in Nairobi in May 2010, the intention was to engage African pension funds and other institutional investors: They are a potentially sizeable source of local funds for private equity investments and, the organizers argued, have not paid enough attention to the opportunities that this asset class presents...Michael Addo from Ghana’s SSNIT, for one, is a convert, and provided an enthusiastic narrative of how SSNIT began to look at private equity investments as a strategy to become more competitive after Ghana’s pension fund sector had been liberalized. At the moment, SSNIT set aside 3% of its entire portfolio for private equity investments, and currently has four PE funds that it works with: one local and three pan-African, one of which is focused on infrastructure investments.

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