Middle East and Africa’s financial services industry saw a rise of 33.33% in deal activity during March 2022, when compared with the last 12-month average, led by CDC Group, Generation Investment Management, HEPCO Capital Management, Latitude Venture Partners and Lightrock’s $75m venture financing deal with M-KOPA Kenya, according to GlobalData’s deals database.

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A total of 24 financial services industry deals worth $205m were announced for the region in March 2022, against the 12-month average of 18 deals.

Of all the deal types, M&A saw most activity in March 2022 with 11 transactions, representing a 45.8% share for the region.

In second place was venture financing with ten deals, followed by private equity deals with three transactions, respectively capturing a 41.7% and 12.5% share of the overall deal activity for the month.

In terms of value of deals, venture financing was the leading category in Middle East and Africa’s financial services industry with $186.02m, followed by M&A deals totalled $18.99m.

Middle East and Africa financial services industry deals in March 2022: Top deals

The top five financial services deals accounted for 92.6% of the overall value during March 2022.

The combined value of the top five financial services deals stood at $189.85m, against the overall value of $205m recorded for the month.

The top five financial services industry deals of March 2022 tracked by GlobalData were:

1) CDC Group,Generation Investment Management,HEPCO Capital Management,Latitude Venture Partners and Lightrock $75m venture financing deal with M-KOPA Kenya

2) The $75m venture financing of Banque Misr by Green for Growth Fund and SANAD Fund for MSME

3) Adii Pienaar,First Circle,GreenHouse Capital,LongCommerce and Uncovered Fund $15m venture financing deal with Credpal

4) The $13m venture financing of Lendai by Cardumen Capital SGEIC,Discount Capital,Meron Capital,Mindset Ventures,Skywell Capital Partners and Viola Credit (formerly Plenus)

5) Saudi Industrial Services $11.85m acquisition deal for 31.7% stake in Green Dome Investments