East African region closed 145 deals valued at Sh309b in 2014

NAIROBI: The East African region closed 145 publicly announced deals for a total value of $3.4 billion (Sh309.4 billion) last year, a new report shows.

The East African Financial Review 2014 report by advisory firm Burbidge Capital says last year’s deals jumped 49 per cent compared to those in 2013. The highest number of deals occurred in the natural resources sector, which saw 38 deals closed in 2014 from 22 in 2013 with Kenya and Tanzania accounting for more than 80 per cent of the deals. The study found out that the financial services received high interest from investors last year, recording 30 deals valued at $515.8 million. “We expect the insurance sector, which saw the entry of global insurers Swiss Re and Prudential plc in Kenya in 2014, to maintain its lead position in 2015 due to the imminent high growth potential for the industry as well as the higher capital demands,” said Edward Burbidge, the CEO of Burbidge Capital.