Africa's M&A market hits four-year high as investors chase bigger deals - Businessday NG

…deal values surge 55% to $4.5bn in Q1 despite fewer transactions

Africa’s Mergers and Acquisitions (M&A) market began the year on a strong note, with deal values climbing to their highest level in four years even as the number of transactions declined, highlighting a growing investor preference for larger, lower-risk acquisitions.

BusinessDay’s analysis of the latest data from DealMakers Africa shows that announced deals across the continent—excluding South Africa, foreign transactions, and failed deals—rose by 55.1 percent to $4.53 billion in the first quarter of 2026, from $2.92 billion in the same period of 2025.

The value increase came despite a slight decline in deal volumes, with 89 transactions recorded between January and March compared with 92 deals a year earlier.

The divergence between deal value and deal volume highlightes a broader shift in the continent’s investment landscape. Rather than deploying capital across a wide range of businesses, investors are increasingly concentrating funds in larger, established companies and strategic sectors such as energy, financial services, and telecommunications.