Despite the economic downturn caused by the coronavirus pandemic, the value of corporate transactions in the East African region surpassed KSh130.9 billion in the first ten months of 2020 according to a report by I&M Burbidge Capital. The area reported 10 Corporate transactions in October, a substantial increase from the 7 deals recorded in the same period in 2019, and 5 corporate deals recorded in September. October’s disclosed deal value increased sharply to $135 million (KSh14.7b), from a disclosed deal value of $44.9 million (KSh4.9b) in October 2019.
Kenya maintained its lead in the corporate deals sector with six out of the ten transactions reported, while Uganda and Rwanda each had two corporate transactions. Notable deals in the Kenyan corporate sector in October were; Proparco’s 100$ million loan to Equity Bank, Platform Capital investment in Koko Networks, IFC’s loan to Twiga Foods, ShEquity Private Equity investment in Ecodudu Limited, and Mobility 54 investment in Data Integrated Limited.
The ICT sector and the financial services sector registered the highest number of corporate deals in October with three transactions each.
At the end of October, the East African region had recorded 90 corporate transactions compared to 91 corporate transactions in the same period in 2019. The disclosed deal value in the 10 months period reached $ 1.2 billion (KSh130.9b), a decline from $1.6 billion (KSh174.5b) reported in the first 10 months of 2019.
