Kenya leads Africa in private equity firms’ investments

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Kenya is the most preferred market for private equity firms in Africa, according to the findings of a new survey, boosting the country’s ambition of being a financial hub.

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The survey by Deloitte and Touche and research firm Africa Assets found that PE firms prefer Kenya to other African countries owing to its prospects of growth and open market policies with a high inclination to the financial sector.

Seventy-four per cent of 39 PE funds that were reviewed by Deloitte released last week preferred Nairobi ahead of other sub-Sahara African nations like Uganda (70 per cent), Tanzania (67 per cent), Zambia (48 per cent), Ethiopia(41 per cent) and South Africa (37 per cent).

Kenya has been seeking to attract funds to boost its economy in a bid to catch up with major economies in Africa such as South Africa, Egypt and Nigeria.

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