Category Banking

Africa Investment Banking Review for the first 9 months of 2019

23 October 2019 Refinitiv

Last week the International Monetary Fund (IMF) released the Sub-Saharan Africa (SSA) Regional Economic Outlook titled Navigating Uncertainty. The report shows that SSA’s projected growth remains at a low 3.2%, a slower pace that previously envisaged.

It is no surprise therefore that that the SSA Investment Banking Fees for the third quarter of 2019 remain subdued. Refinitiv reports that Investment Banking Fees for SSA reached a mere estimation of US$380.8 million during the first nine months of 2019, 12% less than the value recorded during the same period in 2018 and the lowest first nine-month total in four years.

The highest any involvement M&A fees were assisted by deals by Myriad International Holdings (+/-US$35.9), Anadarko Petro-African Assets (+/-US$8.8) and MultiChoice Group Ltd (+/-US$5.08). Leading the Investment Banking Fees League Table are Standard Bank Group, Citi and JP Morgan.

Commenting on the IB Review for the first nine months of 2019, Franita Neuville, Investment & Advisory Performance Director for Middle East and Africa at Refinitiv said: “As indicated before, we expected the Investment Banking Fees to continue to perform at a slow pace this quarter as organizations have become more inward looking due to the current state of the international political economy. It is however encouraging to see that local firms keep topping the ECM book runner tables as seen in the case of Standard Bank.”

For additional information, please find click here to download the full Sub-Saharan Africa Investment Banking Review for the first nine months of 2019.

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