Deal flow in Q1 was muted, with the only deal announced being Somoil’s US$830 million acquisition of GALP’s Angolan portfolio. The other noteworthy event was the Chadian government’s nationalisation of Savannah Energy’s Doba assets. While recent macro-developments create uncertainty, we still see potential for deal-making in the coming months given the strong pipeline of opportunities available across Sub-Saharan Africa.

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