Energy, mining & utilities (EMU) sector saw the highest aggregate deal value in Sub-Saharan Africa (SSA) in 2022, raking in $7.8 billion out of the $19.2 billion deals in the region, according to a report by KPMG, a top professional service company.
According to the report titled"Doing Deals in Sub-Saharan Africa," the sector also recorded the region's highest deal volume at 64 deals in 2022, matching the total for 2021. In total, there were 297 deals valued at $19.2billion in the region in 2022.
The report noted that mergers and acquisitions, M&A deal activity in SSA made an impressive comeback in 2022 following the pandemic and, unlike the rest of the world, posted record transaction volumes. While expressing optimism for future deals, the report recorded South Africa and Nigeria as the top investment destination for investors. It said most international investors expressed willingness to return to the market, with 68% indicating that their experience of dealmaking in the region was positive.
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