Esther Igbinedion
Seventyfour percent of all SubSaharan African fees were generated in South Africa during the first quarter of 2023, followed by Ivory coast (8) and Nigeria (5). JP Morgan earned the most investment banking fees in the region during the first quarter of 2023, a total of US14.3 million or a 22 share of the total fee pool.
MERGERS amp ACQUISITIONS
The value of announced MampA transactions with any SubSaharan African involvement reached US2.9 billion during the first quarter of 2023, an 80 decline compared to first quarter 2022 and the lowest first quarter total since 2003. The number of SubSaharan African deals declined 30 compared to a year ago, a nineyear low.Deals involving a SubSaharan African target totalled US2.3 billion during the first quarter of 2022, down 81 from 2022 levels and a threeyear low. The number of deals declined 28 from last year. Inbound deals involving a nonSubSaharan African acquiror declined 85 to US1.5 billion, while domestic deals declined 64 to US838.6 million. SubSaharan African outbound MampA totalled US384.1 million, down 53 compared to the value recorded during 2022 and a nineyear low.
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Materials deal making totalled US699.4 million, or 30 of first quarter 2023 SubSaharan African involvement MampA activity, an increase of 34 compared to a year ago.
Refinitiv,an LSEG (London Stock Exchange Group) business,today released theQ1 2023 investment banking analysis for the SubSaharan African.
According to the report,anestimated US64.8 million worth of investment banking fees were generated in SubSaharan Africa during the first quarter of 2023, down 50 from the first quarter of 2022 and the lowest first quarter total since 2010. Fees declined 66 compared to the fourth quarter of 2022.
INVESTMENT BANKING
An estimated US64.8 million worth of investment banking fees were generated in SubSaharan Africa during the first quarter of 2023, down 50 from the first quarter of 2022 and the lowest first quarter total since 2010. Fees declined 66 compared to the fourth quarter of 2022.
Energy amp Power and Consumer Products amp Services rounded out the top three sectors for first quarter 2023 MampA activity. Nigeriawas the most targeted nation, followed byZimbabwe and South Africa.Java Capital (Proprietary) Ltd topped the any SubSaharan African involvement announced MampA financial advisor league table during the first quarter of 2023.
EQUITY CAPITAL MARKETS
SubSaharan African equity and equityrelated issuance totalled US276.2 million during the first quarter of 2023, a 44 declinecompared tothe same period in 2022. Just oneissuewas recorded in the region, equalling first quarter 2021s deal count, thelowestfirst quarter tallyin more than two decades.