Africa’s private financing set to exceed 2022’s $19.8m

Africa’s private financing set to exceed 2022’s $19.8m

Data from the Ecofin Pro Transaction Journal shows that private financing involving African entities reached $19.2 billion in 2023.

It is a groundbreaking development. This figure not only surpasses the 2022 record of $19.8 billion.

But also marks a historic high since the journal started tracking private finance in Africa back in 2017.

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By November 10, 2023, the journal recorded 940 yearly transactions, more than in 2020-2022.

The number is lower than the 2019 record of 1,071 transactions, but it still shows a strong financial landscape.

The analysis of the data reveals an interesting fact - the median value of transactions.

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This value represents the middle value when the transactions are ranked in order.

The median value in 2023 is over $3 million, the highest since data collection began in 2017.

Moreover, 2023 stands out with a remarkable 470 transactions surpassing this median value, a significant increase from the 360 recorded six years earlier.

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This indicates more and bigger financial deals happening in Africa's growing and changing economy.

In 2023, there were 38 deals worth over $100 million, slightly fewer than in 2022 (48 deals).

However, the total value remained substantial at $10.45 billion.

This indicates that while there may be a decrease in the quantity of mega-deals, the overall financial impact remains formidable.

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However, it's important to mention that the rate of transaction value growth has started to decrease. This is happening after the years of recovery from COVID-19 in 2021 and 2022.

Several factors are causing this moderation, such as higher interest rates in developed countries.

And the impact of the Ukrainian crisis on global food prices. African central banks have also made adjustments to their interest rate policies.

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As we deal with these economic changes, it's clear that Africa's private financing situation is changing.

The continent continues to attract significant investments, albeit with a nuanced trajectory influenced by both global and regional factors. 

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