In the past two years, private equity deals solidified in Kenya have doubled, according to a Capital FM report. As outlined in the article, an East Africa Private Equity Confidence survey conducted by Deloitte, revealed that the country’s 12 deals — almost half of East Africa’s 26 deals made in 2013 — amounted to roughly $111 million.

The survey was put together between December 2013 and February 2014.

Rwanda trailed closely behind Kenya with five private equity deals worth about $41.6 million. According to the Capital FM, international investors have largely placed interest in agribusiness, health and wind power initiatives among others.

Alexander Van Schie, corporate finance services director for Deloitte, said that things are only looking up for private sector investment in East Africa:

“More and more funds are setting up offices in the region attracted by high returns and the large number of opportunities. The survey findings indicate that majority of players are in the investment phase, with most expecting increased competition for deals.”

The report noted that private equity mining and real estate investment were on the top of the list in Rwanda, while asset management deals, banking and tea manufacturing is booming in Tanzania.

“The region is likely to see more and more investors coming on board going forward compared to South Africa as it has been before. But what will now be key is how to sustain the investors and make sure we continue to see this kind of growth,” Nikhil Hira, a Deloitte tax partner added.

Capital FM further reported that more than 80 private equity deals were carried out in sub-Saharan Africa last year. In addition, newer investments are expected to lend financial boosts to Small and Medium Enterprises.