The biggest deals behind Africa's strongest quarter in four years - Businessday NG

Africa’s Mergers and Acquisitions (M&A) market started the year with its strongest first quarter in four years, as investors poured money into large telecommunications, banking and energy transactions while becoming increasingly selective about where they deploy capital.

According to DealMakers Africa, the continent recorded 89 M&A and private equity transactions worth $4.53 billion in the first quarter of 2026, up 55 percent from $2.92 billion in the corresponding period last year. The increase came despite a slight decline in deal volumes, underscoring a growing preference for larger, lower-risk acquisitions.

The quarter’s biggest transactions were concentrated in telecoms, financial services and energy, sectors that continue to attract investors seeking scale, stable cash flows and long-term growth opportunities.

Here are the 10 biggest M&A and private equity deals announced in Africa during the first quarter of 2026.

MTN’s $2.2 billion acquisition of IHS shares