Sub-Saharan Africa Q4 2023 M&A Quarterly | Deal flow slows, but is it the calm before the storm?

January 19, 2024

Two deals were announced in Q4 2023. This was a slow finish to the year but still contributed to 2023 being the most active year for M&A since COVID-19 with a total of 12 transactions. This is marginally better than 2022 which had 11 transactions and shows consistent appetite by dealmakers to transact in Sub-Saharan Africa, especially the Africa-focused independents.