Rand Merchant Bank was the biggest winner in Africa raking in Sh2 billion in investment banking fees in the first half of the year. PHOTO | FILE
Investment bankers and other transaction advisers in Africa made Sh15.8 billion in fees due to an increase in the number of deals in the first half of the year.
Data from Thomson Reuters/Freeman Consulting shows that advisory fees rose by 10 per cent during the period from Sh14.3 billion ($140.63 million) earned in the first half of 2014.
Thomson Reuters managing director for Africa Sneha Shah said that the growth in fees was due to an increase in debt, equity issues, loan syndication, and mergers and acquisitions (M&A).
Rand Merchant Bank was the biggest winner in Africa raking in $20.5 million (Sh2 billion) in investment banking fees in the first half of the year.
The value of announced M&A transactions with some sub-Saharan African involvement reached Sh1.6 trillion ($15.3 billion) during the first half of 2015, 12 per cent more than the value registered during the same period in 2014.
Overseas acquisitions by Africa’s second largest economy, South Africa, accounted for 65 per cent of sub-Saharan African outbound M&A activity.
Firms from Nigeria, the continent’s largest economy, accounted for 11 per cent of the acquisitions while Mauritian companies took 13 per cent.
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