Interest in Africa's markets is growing, but confidence still depends on clearer market access, stronger infrastructure and fewer barriers to cross-border investment. The data points to real momentum, alongside practical constraints that still limit wider participation. 

What is driving global investors towards Africa today? What still needs to change for investment flows to scale more broadly across the continent?

The findings are based on an industry-wide benchmarking campaign examining how global investors assess the case for investing into Africa, including current participation, near-term growth expectations and the conditions needed to unlock more flows.

Produced in partnership with Standard Bank, Bank of New York Mellon (BNY Mellon), Malaysian Investment Development Authority (MIDA), African Private Equity and Venture Capital Association (AVCA), Southern African Venture Capital and Private Equity Association (SAVCA) and Global Custodian, the research highlights:

• 44% of respondents are already investing into Africa, with participation strongest in Europe and Africa at 45%

• 34% plan to increase investment: near-term interest remains strong, including 58% of North American investors expecting to begin investing soon

• 53% cite local market reforms: respondents see reform as the main trigger for increased capital flows into African markets

• Foreign exchange (FX) liquidity remains a barrier: foreign exchange liquidity and restrictions continue to limit broader investment activity