Weyinmi Popo Examines Opportunities for Private Equity Investment in African Law & Business Article
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African Law & Business has published the article “The drivers of investment in Africa post COVID-19,” written by Akin Gump corporate partner Weyinmi Popo. The article looks at some of the challenges and opportunities for private equity investment across Africa after the COVID-19 pandemic.
Popo writes that Africa has been spared the worst of the crisis based on the number of deaths and hospitalizations, which have been much smaller than in Europe and the Americas. That said, Africa has not been spared “the worst of the slowly unfolding adverse economic impact of the pandemic.”
The article notes that a drop in demand for Africa’s key exports, such as fossil fuels, copper and tourism, along with a sharp reduction in domestic demand, have hit Africa’s economies and currencies hard. Popo discusses what this means for private equity activity in Africa going forward, predicting that “the rise in technology adaptation and the dynamic youth of a continent with an average age of 19 and a growing population, will inevitably drive long term economic growth that private equity investors will find attractive.”
To read the article in its entirety, please click here.