Finance

Investment Banking Income in SSA slid 19% in H1 2019

Friday, 19 July 2019 13:01
Investment Banking Income in SSA slid 19% in H1 2019

(Ecofin Agency) - The investment banking industry in sub-Saharan Africa generated $227.3 million between January and June this year. This figure is down 19% compared to the same period in 2018, and is the lowest level in the region since 2016.

The dropping figure is the result of weak listing turnover. Listing revenues was $20.9 million over the period, narrowing by 70% compared to H1 2018. Money generated from bond arrangements also shrunk due to a weak demand by companies and sovereign issuers in sub-Saharan Africa.

Investment banking revenues in Middle-East and North Africa (MENA) reached $506.2 million in H1 2019, down 12% compared to H1 2018. With $31.6 million, South Africa’s Standard Bank is the financial intermediary that achieved highest revenues, up 8.7%. Standard Chartered Bank and U.S. Citigroup closed the top 3.

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