NAIROBI, Oct. 15 (Xinhua) -- Africa is witnessing an increase in private equity investments as investor interest in the continent surges, says a new report released in Nairobi on Tuesday.
The report by Cytonn, a Nairobi-based investment firm, attributed the growth in private equity investment in the continent to rapid urbanization, a resilient and adapting middle-class and increased consumerism.
"There are also attractive valuations in sub-Saharan Africa's private markets compared to its public markets and as compared to global markets," said Cytonn.
It added that sub-Saharan Africa is having better economic projections compared to global markets.
"We remain bullish on private equity as an asset class in sub-Saharan Africa. Going forward, the increasing investor interest and stable macro-economic environment will continue to boost deal flow into African markets," noted the investment firm.
Kenya, Nigeria and Ghana are among countries attracting high private equity investments, according to Cytonn.
