Top 10 Private Equity Firms in Africa 2025 | USAEMALL.com

In Summary

• The African private equity market is projected to reach a deal value of $901 million by the end of 2025. 
• The value of private equity deals in Western Africa alone is projected to be $424.42 million, with 25.73 deals and an average deal size of $16.49 million. 
• In the first quarter of 2025, Equity financing remained dominant and was involved in 79% of transactions, an increase from 73% in the previous quarter.

Deep Dive!!

The investment landscape in Africa has significantly transformed over the past decade due to private equity options. With a growing middle class, rapid urbanization, technological adoption, and a surge in entrepreneurial ventures, the continent has become a hotspot for private equity investors. In 2025, private equity continues to play a crucial role in financing Africa’s development, providing capital, operational expertise, and strategic partnerships to scale businesses and create long-term value.

In recent years, the continent has steadily emerged as a choice destination for private equity investment, driven by strong demographic trends, digital transformation, and a surge in entrepreneurial activity. Experts say that the continent’s expanding consumer markets, infrastructure needs, and increasing policy stability have continued to create a fertile ground for both regional and global investors to participate in Africa’s growth story.

Here are the Top 10 Private Equity Firms in Africa in 2025, highlighting their investment strategies, geographic focus, notable deals, and contributions to the continent’s economic evolution.

10. Knife Capital — Cape Town, South Africa

Though small in size, compared to the others on the list, Knife Capital earns its place due to strategic growth investments in high-potential startups transitioning to the growth stage. With notable investments in DataProphet, Snapplify, and Flyt Property, Knife Capital bridges venture capital and private equity by scaling tech-enabled African startups.

9. EXEO Capital (formerly Agri-Vie Capital) — Cape Town, South Africa

EXEO focuses on food and agribusiness investments, supporting growth and value addition across the agricultural value chain. The Private Equity firm has notable investments in Marginpar (Kenya), Kariki Group (Kenya), and Capital Fisheries (Zambia). Its key strength is its specialist focus on agribusiness and sustainable rural development.

8. Emerging Capital Partners (ECP) — Ivory Coast

ECP has made over 70 investments across more than 40 African countries. The firm targets growth-stage businesses in consumer goods, energy, financial services, and telecom. They have notable investments in Oragroup (Togo), IHS Towers, and Java House (Kenya). Their key strength lies in their Pan-African reach and a consistent track record of exits through IPOs and trade sales.

7. Adenia Partners — Mauritius

With investments across East, Southern, and West Africa, Adenia is known for transforming family-owned and entrepreneur-led businesses through operational improvements. They have notable investments in General Emballage (Algeria), Cresta Paints (Nigeria), and Ademat (Ivory Coast). Adenia Partners boasts of key strengths from long-term value creation and excellent post-acquisition support to African SMEs.

6. Ethos Private Equity — Johannesburg, South Africa

Ethos prides itself as one of South Africa’s oldest and most respected private equity firms, investing in established companies in healthcare, technology, retail, and manufacturing. The firm combines traditional private equity with a growing focus on digital transformation and fintech innovation, and they have notable investments in Brait SE, Channel VAS, and AutoZone.

5. Mediterrania Capital Partners — Casablanca, Morocco

Mediterrania Capital Partners is focused on North and Sub-Saharan Africa. They invest in SMEs and mid-cap companies poised for regional expansion, like TGCC (Morocco), Cairo Scan (Egypt), and Cash Plus (Morocco). Their hands-on value creation strategy with strong operational support to portfolio companies in North and Francophone Africa.

4. African Capital Alliance (ACA) — Lagos, Nigeria

African Capital Alliance is one of West Africa’s foremost indigenous private equity firms, with investments in sectors such as FMCG, telecom, energy, and financial services. They boast of deep local networks and sector expertise in Nigeria and West Africa, with a growing portfolio of cross-border investments in companies such as Union Bank of Nigeria, Daraju Industries, and Continental Reinsurance.

3. Actis — Pan-African

With over two decades of investing in Africa, Actis focuses on sustainable infrastructure, real estate, and energy, often taking controlling stakes. The private equity firm employs a sustainability-focused approach that supports infrastructure-led development and clean energy transition across Africa. They have investments in Lekela Power, Heritage Place (Lagos), and Honoris United Universities.

2. Helios Investment Partners — Lagos, Nigeria

Helios is a pan-African private equity powerhouse that invests in growth equity, buyouts, and special situations across sectors like telecoms, financial services, and energy. Over the years, they have mastered complex cross-border deals and have strong operational expertise in managing large-cap investments like Telkom Kenya, Interswitch, and Africa Oil Corporation.

1. Development Partners International (DPI) — Cairo, Egypt

DPI remains one of the leading Africa-focused private equity firms and makes number one on our ranking. The private equity firm targets pan-African mid-market companies with scalable business models in industries like financial services, healthcare, education, and logistics. With notable investments in International Facilities Services (IFS), DabaDoc (Morocco), and SICAM (Tunisia), DPI integrates ESG principles into all investments and is renowned for its gender-lens investing across North and Sub-Saharan Africa.