The African Private Equity and Venture Capital Association (AVCA) and Pension Fund Operators Association of Nigeria (PenOp) in December 2021 launched the inaugural Pensions Funds and Private Equity in Nigeria Study.
This study marks the launch of a broader partnership between AVCA and PenOp, investigating and assessing the role of Nigerian pension funds in empowering local investors in Nigeria’s private equity industry.
Ogedi Onyeama, Head Investor Relations at ACA, was hosted among other esteemed industry experts by AVCA in a webinar to mark the launch. The discussions analyzed the responses from Nigeria’s leading pension fund managers incorporated in the report, exploring their interest and perception of private equity as an asset class.
Ogedi, in speaking to the drivers for the private equity industry in Nigeria, had this to say “Despite recent macro headwinds and what has turned out to be a very challenging environment for raising capital, we hold the firm view that the fundamentals of our market support a really strong medium to long-term growth story, and that there are opportunities to create value and provide very attractive returns to investors through private equity investments.
The growth drivers include the youth demographics of our market, organisation trends that have driven consumption, the infrastructure deficit, underserved consumer demands in many sectors – including Tech, opportunities to bridge the digital divide and drive digital transformation in various sectors and industries/value chains and markets, as well as opportunities created by reforms to build large companies that deliver skill. These drivers present opportunities for private capital to find and back strong management teams in the right sectors and create value for the market and investors.”