Refinitiv, one of the world’s largest providers of financial markets data and infrastructure, Tuesday announced that Sub-Saharan African investment banking fees reached an estimated $227.3 million during the first six months of 2019.
Standard Bank Group earned the most investment banking fees in Sub-Saharan Africa during the first half of 2019, a total of US$31.9 million or a 14 per cent share of the total fee pool. While as Citi topped the Any Sub-Saharan African Involvement Announced M&A Financial Advisor League Table with a 30 per cent share of the market. The value of announced M&A transactions with any Sub-Saharan African involvement reached $20.9 billion, up 42 per cent from the same period last year and the highest first half total since 2010.
Deals in the energy & power sector accounted for 55 per cent of Sub-Saharan African target M&A activity in the region during the first half of 2019. South Africa was the most targeted nation, followed by Botswana and Nigeria.
Sub-Saharan African equity and equity-related issuance totaled $1.3 billion with Standard Bank Group topping the Sub-Saharan African ECM league table with a 40% share of the market.
Ghana and Kenya were the most active issuer nations with $3.0 billion and $2.1 billion in bond proceeds, respectively. Ghana raised US$3.0 billion with its Eurobond issue in March, the largest bond offering in the region so far during 2019.
JP Morgan took the top spot in the Sub-Saharan African bond ranking during the first half of 2019 with $2.4 billion of related proceeds, a 20 per cent market share.
