非洲私募股权和风险投资协会（AVCA）：2025年第三季度非洲私人资本活动报告（英文版）

Africa’s private capital market in 2025 YTD entered a new phase of recalibration, defined by cautious dealmaking, lengthier fundraising cycles, and a marked rise in exit activity. Deal activity stabilised following the surge in momentum seen in 2022, establishing a higher but more sustainable baseline, supported by dynamic Private Debt deployment and a resurgence across Industrials and Utilities. Fundraising cycles lengthened as LPs adopted a more selective approach, reshaping the landscape t