The value of merger-acquisition deals in Africa has already reached $58.2 billion this year, we learned from market data. This is the highest value recorded since 2017.
The value of closed M&A deals reached $7.35 billion in North Africa and $50.8 billion in sub-Saharan Africa. For SSA, this volume is above the $34.4 billion achieved for the entire period from 2018 to 2020. Last year was particularly bad for the sector with only $10.46 billion.
The Managing Director, SBG Insurance Brokers Limited, Lagos, Mr. Sammy Dalmeida, has lamented that insurance penetration in Nigeria is among the worst in Africa, calling on insurers to stir Nigerians' interest in embracing the sector.
Dalmeida also urged insurance brokers to explore "blue-ocean strategies" and digital technology to enhance their continued relevance and strategic positioning in the nation's insurance market.
Dameilda said this during a press briefing to announce the 20th anniversary celebrations of the firm.
The Bank of Central African States (BEAC) supports the promotion of transparency in the insurance sector through the launch of a process of recruiting a consultant for the establishment of a base data for the Inter-African Conference on Insurance Markets (CIMA). The missions assigned to the consultant are mainly to develop a digital platform to facilitate data collection by monitoring control and scoring reports (a risk coverage and pricing decision tool) from insurance companies.
On October 5, 2021, a unique transaction was completed by the Dutch development bank, FMO (Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V.), with the structuring and issuance of the first ever synthetic Congolese francs bond (CDF) on the Luxembourg Stock Exchange!
FMO issued a synthetic bond, in Congolese Francs, equivalent to $20 million (around 40 billion Congolese francs), for a term of 14 months. The term synthetic refers to the fact that the bond is an asset in Congolese francs, but the reconciliation of all cash flows is in USD.