Top 10 African countries with the most expensive deals


Mergers and acquisitions (M&A) play an important role in developing the economic landscapes of nations worldwide, and Africa is no different. Africa’s M&A activity over the years has been fluctuating according to a report by DealMakers AFRICA.

The report titled M&A analysis by DealMakers AFRICA, also notes that investors are becoming more hesitant about transactions due to economic headwinds, rising capital costs, infrastructural deficiencies, regulatory difficulties, and geopolitical concerns.

According to an extract from the report, in 2023 “The value of deal activity recorded was US$11,2 billion, a 36% decline on the previous year, and 28% down on the pre-COVID numbers of 2019. East Africa edged its way back to the top to claim the most activity per region, recording 144 deals, followed by West Africa (136 deals) and North Africa (107 deals),” the report reads.

“The powerhouses of their regions, Kenya and Nigeria recorded the most deals at 95 and 82 respectively. In terms of deal value, it was Southern Africa that stood out, and more specifically, Zimbabwe, with total deals valued at US$5,8 billion, reflecting the size of several mining transactions announced during the year,” it adds.

However, there is a silver lining for East Africa as the region “edged its way back to the top to claim the most activity per region, recording 144 deals.”

With that said, below are the 10 African countries that made the most expensive deals in 2023.

Rank Country Total deals in $ US Number of deals

1.

Botswana

$1,879,122,118

8

2.

Zimbabwe

$1,750,060,000

8

3.

Egypt

$1,385,219,745

59

4.

Angola

$1,230,989,406

8

5.

Nigeria

$932,974,889

84

6,

Zambia

$772,750,000

8

7.

Morocco

$752,852,287

34

8.

Kenya

$600,320,130

96

9.

Tunisia

$474,501,481

13

10.

Democratic Republic of Congo

$300,000,000

2



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