Browsing: Equity capital markets

Sub-Saharan Africa M&A transactions and fees declined in Q1 2020. Africatel Holdings’ US$1.0 billion sale of PT Ventures to Angolan Sonangol in January was the largest deal in the region during the first quarter of 2020. www.theexchange.africa

Sub-Saharan Africa M&A transactions, fees decline in Q1 2020

Money Deals

Investment banking fees in Sub-Saharan Africa reached an estimated US$128.2 million during the first quarter of 2020, a decline of 15 per cent from last year’s strong start.

Advisory fees earned from completed mergers and acquisitions (M&A) transactions generated US$33.5 million, down 38 per cent year-on-year, while syndicated lending fees declined 47 per cent to US$35.7 million.

The authors of the report, Refinitiv, note that Equity capital markets underwriting fees more than tripled to reach US$36.7 million, a first quarter total only exceeded twice since the company’s records began in 2000.

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Bond underwriting fees increased 20 per cent to US$22.3 million, again the third-highest first quarter fee total since our records began.

Almost one-quarter of fees in the region during the first quarter of 2020 were earned from government and agency deals.  Almost two-thirds of all fees were generated in …