Authored by Ngange Nongogo (Private Equity Partner and Value Add Lead), Thurstan Moodley (Joint Managing Partner, Social Infrastructure), and Siyasanga Mrabalala (Client Relations at Summit Africa) as written for and published in Private Capital Magazine – Elevate 2025.

This case study examines the resurgence of private equity (PE) exit activity in South Africa, which gained momentum in mid-2023 and continued into 2024. It highlights notable exits, discusses key factors driving this trend—such as anticipated economic growth, structural reforms, and market conditions—and outlines the primary exit routes (trade sales, secondary buyouts, and IPOs). The study also addresses potential global and local challenges that may impact future exit activity, and explores alternative exit strategies for PE fund managers seeking to remain agile in an evolving investment environment.