Connect with us

Hi, what are you looking for?

Jewish Business News


Carlyle’s David Rubinstein: ‘Great Explosion of Private Equity In Africa’

The U.S.-Africa Leaders Summit

David Rubenstein, joint CEO of the Carlyle Group, discussed a “great explosion of private equity” in Africa at the U.S.-Africa Business Forum. Much of this was geared toward the potential rather than the current reality, since China is the leading investor in Africa, and the U.S. trails other countries, but Rubenstein emphasized that the potential for private equity is huge in the continent.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

As a member of a panel, he said, “Opportunities are far greater than people thought a few years ago, and the great explosion in private equity, if it is going to occur anywhere in the world in the next couple of years, is probably going to be in Africa.”

The possibilities for expansion may be enormous, but the fact that only 1% of private equity investment goes to Africa shows that not much has been done yet. However, the largest U.S. private equity firms, Carlyle and Blackstone, seem ready to change that with a joint investment in African Energy infrastructure with Aliko Dangote, Africa’s wealthiest person.

Rubenstein acknowledged challenges involved in investing in the continent; “It is not easy to get control of assets. It is not easy to make the changes we want.”  However, Ajay Banga, CEO of Mastercard and also a member of the panel, is optimistic, and pointed out that Africa was at the growth stage Asia occupied 15 years ago. Banja sees consumption-based growth and the rise of the middle class. He also noted a rapid growth in Africa of the use of credit cards rather than cash to make payments. Credit card purchased in Africa, Asia-Pacific and the Middle East grew 18%; only Latin America grew at a faster rate.



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.