In the last week alone, the international media has been buzzing about Chi, a Nigerian drinks company, and Africell, the largest mobile phone operator in Sierra Leone and Gambia. They are the latest African firms to be courted by the world’s biggest private equity funds – French insurer AXA is paying U.S. $246 million to purchase Assur Africa Holdings in a bid to extend its reach to the Nigerian market.
The funds’ aggressive Africa investment strategies in and of themselves are revealing, as they highlight both the world-class calibre of entrepreneurial talent in Africa and the potential depth of the market.
Neither Chi or Africell is a household name across the continent, yet they are potentially attracting serious global capital. It begs the question: where else across the continent do we have undiscovered world class businesses and how can we tear down the barriers which prevent many talented entrepreneurs from achieving their goals?