African private equity - The bright continent: Carolyn Campbell, MD, Emerging Capital Partners

Carolyn Campbell, Managing Director and Founding Partner, Emerging Capital Partners. Credit:

Last year, a record $4bn (€3.7bn) was ploughed into private equity fundraising in Africa.

The growth of the African middle class, rapid urbanisation, along with increased GDP per head, is creating a sizeable consumer class across the continent. 

Demographic statistics suggest that Africa already has a larger middle class – earning the equivalent of more than $20,000 per year – than India.

By 2030, it is forecast that more than half of Africa’s population will live in urban areas, up from one-third today. These trends, along with GDP growth rates in excess of 4-5%, all support forecasts of growth in the consumer goods and services sectors, which will open up investment opportunities. 

Read more: African Private Equity: The bright continent | Magazine | IPE