Sub-Saharan Africa Q2 2023 M&A Quarterly | deal-making up after muted Q1

July 14, 2023


Sub-Saharan Africa deal flow is up slightly after a muted Q1. The capital discipline trend continued with activity driven by portfolio optimisation and operational restructuring. African-focused independents continue to be the most active acquirers, and with material offshore early-life opportunities coming to market (e.g. Baleine and Venus), we see the large independent peer group emerging once again.