The West African Independents – Will the buying spree continue?

July 13, 2021

The African focused Independents have dominated M&A in the region. Since 2017, these companies have accounted for US$3 billion of acquisition spend in the region. With most of the Independents pivoting from frontier exploration and a growing pool of acquisition opportunities, this peer group are the obvious buyers. But do they have the deep pockets and operating capability to pick up the slack from the Majors?