By Abhishek Mittal, Partner, Aavishkaar Africa Fund / Aavishkaar Capital

African private equity firms raised less than $20 billion in the decade to 2018, equivalent to just 2.5% of the capital raised by the world’s emerging markets, according to a Prequin report. Moreover, most of that African capital was invested into the relatively advanced economies of South Africa and North Africa, with very little flowing into the rest of the continent.

This limited inves...