In the first quarter of 2024, Nigeria recorded the largest private equity deals in Africa, overtaking the smaller countries that previously had the highest deals.

This is from a report by DealMakers Africa, a company based in the Republic of South Africa which tracks mergers and acquisitions (M&A) and corporate finance activity across the continent.

According to the report, the value of M&A in Nigeria for Q1-2024 was estimated at US $2.6 billion.

“In terms of total deals, West Africa continued to dominate (recording $2.6 billion in value) with Nigeria the centre of activity (20 deals),” the report said.

It also says out of the top 10 deals in Q1, the largest was the disposal by Shell of its onshore oil and gas subsidiary to Renaissance Africa Energy for $2.4 billion.

“While Africa faces many challenges – both internal and external – opportunities abound, with the world’s largest mineral reserves and huge potential to produce energy from renewable sources,” the report added.


SOURCE
https://naijaphilia.com/blog/2024/07/08/did-you-know-nigeria-is-now-the-no-1-private-equity-destination-in-africa/