Over the first six months of 2019, the largest volume of Mergers and Acquisition deals in sub-Saharan Africa was conducted by Citigroup, Ecofin Agency found in data provided by Refinitiv, a subsidiary of British Thomson Reuters.
Data showed that Citigroup accounted for 30.4% of the value of transactions on this segment, with a total of $6.35 billion for 8 transactions. Overall announced M&A deals in SSA totaled $20.9 billion over the reviewed period, up 42% compared to the same period in 2018. This volume is also the largest in a first half-year since 2010.
Also, announced deals targeting sub-Saharan Africa more than tripled in value to $16.9 billion, driven by the $8.8 billion offer made by the French energy group Total to acquire the African assets of U.S. Anadarko Petroleum. Most of the top ten of these transactions are in the process of being finalized.
Despite this momentum for Citigroup, it comes second in investment banking fees generated for deals on the M&A segment with $12.7 million. U.S. bank JP Morgan comes first with $12.8 million generated.
With a total of $63 million in fees, the sector was the second most profitable for investment banks in Sub-Saharan Africa in H1 2019.
Idriss Linge