Kenya's Ascent Capital looks to raise Sh12.2 billion($120m) for second fund

NAIROBI - Ascent Capital, a Kenyan private equity firm, is looking to raise $120-150 million in its second round of funding for investment in Rwandan and Tanzanian firms, it said on Friday.

Private equity is still a relatively new financial vehicle on Africa’s landscape but Ascent and others operating in the region are helping to grow its appeal to institutions looking for exposure to fast-growing economies on the continent.