The number of corporate deals in East Africa reached 73 at the end of August this year, compared to 75 deals in the same period in 2019. The total disclosed deals value marginally decreased to $952 million from $1.3 billion in 2019 according to a report by I&M Burbidge Capital.
Kenya registered 52 corporate deals out of the 73 transactions recorded in the period under review. Ethiopia, Tanzania, and Rwanda recorded 6 deals each. Uganda registered only had three corporate transactions.
The financial services sector led in the number of corporate transactions in that period. It had 18 deals with a disclosed deal value of $296.74 million. Fast Moving Consumer Goods sector took the second position with 5 corporate deals with a disclosed deal value of $39.5 million. The automotive and mining sectors had the least corporate deals, each posting one transaction in the eight months to August 2020.
Some of the notable transactions concluded during that period are; Cooperative bank’s acquisition of 90% stake in Jamii Bora Bank, Proparco’s Direct Foreign Investment in the family-owned business – Kenya Nut Company.
