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African Business Network 37
the Central Bank of Kenya Pension Fund.
Another key pillar for AVCA is advocacy. A major focus for the association is to lobby on behalf of its members to grow private equity in Africa. AVCA aims to work with government policy makers, tax practitioners and other stakeholders to help create an enabling environment for the asset class
on the continent. AVCA works with regional associations with local presence to facilitate these discussions.
Finally, and an equally important function,
is AVCA’s networking and industry events division. AVCA lays on a full calendar of various networking events culminating in the annual global conference, which Mustapha- Maduakor says is the largest private equity gathering on the continent.
“What di erentiates AVCA is that we move the conference around the continent each year to expose the various investment opportunities in Africa to international investors,” she explains. “In recent years, the conference has been held in Abidjan, Accra, Cape Town, and Lagos, and next year, we will take the AVCA conference to Marrakech for the 15th edition.” The mobility of the annual AVCA conference is an opportunity to showcase each di erent country as an attractive private equity destination to global investors.
AVCA draws its members from every level of the private equity industry, both in Africa and globally. The association’s membership
consists of fund managers, institutional investors, professional services  rms, direct investors, and  nancial institutions. A broad membership requires very di erent representation, and Mustapha-Maduakor prides the organisation on the way it interacts with its members to ensure it can understand the needs of each group.
In terms of representing the di erent strata of private equity, AVCA provides tailored o erings for the di erent member groups. For example, for  rst time fund managers who are fundraising, AVCA can connect them to legal practitioners and supply standardised templates to help with fund structuring.
“We are very close to our members – we spend a lot of time meeting with them so we have been able to ascertain the unique needs for each membership group and tailor our o erings accordingly,” Mustapha-Maduakor highlights.
“This is in addition to the blanket pro le- raising opportunities o ered to all members.”
Private equity in Africa
The African private equity ecosystem has weathered various challenges as it develops its position as a primary investment destination. In recent years, it has been predominantly on a macroeconomic level where uncertainty in the continent’s major economies of South Africa, Nigeria and Kenya has led to a slowdown in economic growth. Obasanjo-Adeleye expects this trend to be reaching an in ection point, although


































































































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