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Africa’s tech sector is set for massive growth with regards to merger and acquisition (M&A) activity this year. M&A in the technology and telecommunication sectors in Africa and the Middle East will grow by more than four-fold in 2018, according to the Baker McKenzie Global Transaction Forecast.

 

The research, which was developed in association with Oxford Economics, points to growth in the African and Middle East markets, with M&A activity valued at $1.2 billion in 2017. The report suggests that the amount will surge to $5.9 billion in 2018, with a further $5.9 billion expected in 2019.

 

Factors responsible for the expected mergers and acquisition growth in Africa include a more positive global economy, tech expansion across numerous industries, and investment from emerging markets. Increased local demand for innovative products, services and solutions drives offshore telecommunications and technology companies to target opportunities in Africa. The growing financial services sector has also seen domestic banks make significant investments in technology to advance their innovation agenda.

African tech companies are also targeting offshore investments in companies that will deepen their access to new technologies, markets and talent. The expansion of emerging technologies across industries, including agribusiness, automotive and of course financial technology (fintech),  which will also drive M&A activity as it is expected to see more cross-sector deals involving technology.

This could be an exciting opportunity for tech firms to explore this upcoming sector within Africa, which Oakmark can help to facilitate your entry. 

For more information or consultation, please do get in touch.

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