Merger and Acquisition Trends in Africa and the Middle East post COVID-19

Anton van Wyk and Anmar Pretorius ()
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Anmar Pretorius: North-West University

Africagrowth Agenda, 2025, vol. 22, issue 3, 8-11

Abstract: This study investigates post-Covid merger and acquisition (M&A)trends involving Africa and the Middle East between 2021 and 2023, with a focus on identifying sectoral and geographic patterns that have emerged during the recovery period. Using a descriptive dataset consisting of over 1,300 M&A transactions compiled from data obtained from the Institute for Mergers, Acquisitions and Alliances (IMAA), the research explores both the directionality and nature of cross-border mergers. The results indicate a shift in sectoral interest over the six-year period, with a significant rise in activity in the communicationservices sector—particularly telecommunications and media—in 2022 and 2023. These trends reflect broader global and regional economic priorities post-Covid, with increased demand for digital infrastructure and health resilience. Geographically, the study finds that while traditional global acquirers such as the United States, the United Kingdom,and France remain active, there is a growing intra-regional trend,with countries like South Africa, the United Arab Emirates, Israel, and Egypt emerging as both frequent acquirers and targets. This suggests that regional actors are playing an increasingly central role in driving growth and consolidation within Africa and the Middle East. The findings support the conclusion that intra-regional M&As may be a critical factor in sustaining investment flows and economic integration post-Covid. The study recommends enhancing regulatory harmonisation, strengthening institutional support for regional deal-making, and investing in firm-level capacity building to further unlock the potential of M&A activity as a tool for long-term growth and development within the region.

Date: 2025
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