Private Capital
Q3 2025 Private Capital in Africa Activity Report
Your data advantage in Africa's evolving investment landscape
Stay ahead with Stears' Q3 2025 Private Capital in Africa Activity Report, the definitive data-driven guide to Africa's private capital markets. Drawing on verified data from the Stears Private Transactions Database, the report analyses deal activity, sectoral performance, and regional investment trends shaping Africa's private investment landscape.
What's Inside the Report?
Regional capital trends: Southern Africa led activity with 31% of all transactions, followed by West Africa (30%) and East Africa (28%). South Africa and Nigeria remained the dominant markets, while Uganda entered the top tier for the first time.
High-conviction sectors: Information Technology (21%) and Financial Services (20%) led deal flow, followed by Energy & Utilities (13%). Standout transactions included Canal+ SA's $2 billion acquisition of MultiChoice Group and Kredete's $22 million Series A.
Deal activity and valuations: Africa recorded 177 transactions, up from 147 in Q2 2025, with disclosed values rising from $3 billion to $5 billion. The share of transactions valued between $2.5M and $10M rose to 32%, reflecting renewed focus on Series A venture rounds.
Investor behaviour: Private equity firms continued to cross into venture and growth rounds, while DFI activity remained elevated across infrastructure and energy-adjacent deals.
