Private equity investment in Africa remains significantly low, capturing less than 1% of its GDP in deal volumes despite strong entrepreneurial activity. This stark financing gap, exemplified by US$6.4 billion in African private equity deals in 2023 compared to the EU's US$455 billion, highlights a major development challenge for the continent.

• Africa's private equity deal volumes in 2023 amounted to just 0.2% of GDP.
• The European Investment Bank (EIB) and the African Development Bank (AfDB) launched the Boost Africa program to catalyze investment in African startups and SMEs.
• Poa! Internet in Kenya, an EIB-backed beneficiary, has connected thousands of households to affordable Wi-Fi, with 85% of users relying on it for professional purposes.