“We believe that private equity in Africa will triple in the next 10 years” – Dave Uduanu
SuperReturn Africa - http://www.informaglobalevents.com/FKR2223ytsrafvep Dave Uduanu (Pension Fund Operators Association of Nigeria) interviewed by Simon Thornton (PEAROnline) at SuperReturn Africa 2012 in Casablanca. Sub-Saharan Africa pension fund market - a very large proportion is in South Africa. Outside South Africa, the pension fund market is growing at around 25% per annum. Within South Africa, it is growing at around 25% per annum. But the fastest growing pension fund market in Africa is Nigeria at around 30% per annum. The percentage of pension fund commitment to private equity is relatively small (5% in South Africa and less than 1% outside of South Africa). However, the allocation of funds to private equity will increase in the next few years. It has needed to develop due to it being a new asset class in Africa as well as the need to grow the knowledge base and the continent is just catching up with the wave of private equity that has swept the rest of the world. Dave Uduanu believes that private equity in Africa will triple over the next 10 years from $30 billion to $100 billion.