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48 FINANCE | Investec Asset Management The challenges for doing business in Africa have been well documented and
they are improving, but the main hurdles for private equity investors range from
the availability of commercial banking, the validity of accounts and the accessibility
to capital markets to potential strategic investors being warded o  due to rumours of a coup or sovereign default. Baird calls it a slightly ‘edgier’ private equity environment.
Africa’s weaknesses are also its strengths
However, as Baird mentions, Africa’s
nature as an emerging market o ers vast opportunity to any investment  rm looking to break in and build a company. With
South Africa leading the way as Africa’s most established economy and market, many other budding countries such as Kenya, Ghana and Nigeria are imitating the rule of law, contracting and deal-making ecosystems in order to attract foreign investment.
Then there are the rawer factors that are driving business on the continent and here is

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