Review of Sub-Saharan Africa Investment Banking performance for the first half of 2020.

One of the world’s largest providers of financial markets data and infrastructure, Refinitiv has released a recent report on Sub-Saharan Africa Investment Banking performance for the first half of 2020 with focus on Investment Banking fees, volumes and league tables across M&A, Equity Capital Markets, and Debt Capital Markets. It also examined first half deal flows, top deals, most active nations, and most active sectors.

The Highlights of the report are as follows:

• Investment banking fees in Sub-Saharan Africa reached an estimated US$64.5 million during the second quarter of 2020, half the value recorded during the first quarter of 2020 and the lowest quarterly total since Q1 2012.
• The value of announced M&A transactions with any Sub-Saharan African involvement reached US$10.3 billion during the first six months of 2020, 44% less than the value recorded during the same period in 2019, and a two-year low.
• Sub-Saharan African equity and equity-related issuance totaled US$1.5 billion during the first half of 2020, 16% more than the value recorded during the same period last year, but lower than every other first half total since 2009.
• The African Development Bank raised $3 billion in a “Fight Covid-19” social bond at the end of March to help alleviate the economic and social impact the Coronavirus pandemic will have on livelihoods and economies in the region.  With this deal, and Ghana’s US$3 billion Eurobond in February, Sub-Saharan African debt issuance totaled US$8.9 billion during the first quarter of 2020, the second-highest first quarter DCM total in the region of all-time.

The full report can be downloaded here.

Refinitiv is one of the world’s largest providers of financial markets data and infrastructure, serving over 40,000 institutions in approximately 190 countries. It provides leading data and insights, trading platforms, and open data and technology platforms that connect a thriving global financial markets community – driving performance in trading, investment, wealth management, regulatory compliance, market data management, enterprise risk and fighting financial crime.