The Q3 2025 Stears Private Capital in Africa Report analyses African private market transactions for Q3 2025. It examines key trends in private investments, providing valuable insights for fund managers and corporate decision-makers on the countries, industries, and companies attracting private capital.
Q3 2025 sectoral insights
Africa’s private capital activity in Q3 2025 was led by the Information Technology (IT) sector, which accounted for 21% of transactions, rising from third place in Q2 and displacing Consumer Goods & Services from the top position. Financial Services (20%) and Energy & Utilities (13%) followed. The Consumer Goods & Services category was reclassified this quarter into Consumer Discretionary (11%) and Consumer Staples (5%); even when combined, they did not feature among the top three sectors.
Within IT, Application Software (7% of all transactions) and Consumer Digital Services (6%) were the dominant sub-sectors, together representing two-thirds of all IT deals. The most notable Application Software transaction was the
