Ad image

East Africa Attracted $89 million Deals In April

1 Min Read

The East African region is increasingly becoming the investors’ destination choice owing to surging cooperate deals registered.

According to the April East African financial review by I&M Burbidge Capital, the region sucked in $89 million compared to $19 million in March.

The I&M Burbidge report said that the second quarter commenced strongly with 11 corporate deals valued at approximately $89 million.

From this report, it is indicated that the region attracted five deals worth only $26 million in the same month in 2017.

Details also indicate that of the deals struck last month, Kenya accounted for 10 of the 11 deals, with mergers, acquisitions and private equity deals dominating the space.

From January to April 2018, the East African region attracted a whopping $137.4 million worth of deals.

Last year, the value of deals was boosted by the $900 million acquisition of a stake in the Uganda oil fields by French oil giant Total and from British explorer Tullow in January.