The number of publicly disclosed corporate deals in East Africa grew by 49 per cent in 2014 as compared to the previous year, with the total value of deals topping US$3.4 billion in 2014, according to a new report.
East African corporate finance advisory firm Burbridge Capital has released its 2014 Annual East Africa Financial Review, revealing that 145 publicly announced corporate deals took place in 2014 to a total value of US$3.4 billion, with the natural resources sector proving the most active.
38 deals closed in the natural resources sector in 2014, up from 22 in the previous year; with Kenya and Tanzania home to 80 per cent of the deals.
The financial services sector also stood out for its activity in 2014, with 30 deals announced at the total value of US$515.8 million.
On the contrary, the ICT sector took a significant hit, with the number of deals occurring in 2014 almost half of the figure in 2013.
The report highlights the increase in private equity in the region, with 35 deals taking place in 2014 – at a total value of UA$678 million -, as well as five private equity exits; with the report concluding the sector will see further growth in 2015.
“We are delighted to publish our second Annual East Africa Financial Review, revealing astounding growth in corporate deal making in the East African region, which we expect to increase to even higher levels in 2015,” said Edward Burbridge, chief executive officer (CEO) of Burbridge Capital.