Passing round the hat

Although 2012 brought the lowest performance in rates of returns on private equity since the global financial crisis in 2008, it was a year in which Africa became seen as a high-growth region. Graham Elton, a partner at Bain & Company said that the global industry "is stuck in a  rudderless recovery, after the level of buyouts was flat for a third year," but explained that "there are regional variations." He commented that even though it was a terrible year for Europe, private equity investors have started to see sub-Saharan Africa as the most attractive region to invest in.