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Global M&A Trends Report

Ghana

(Africa) Firm Bentsi-Enchill, Letsa & Ankomah

Contributors Seth Asante

Updated 30 Jan 2024
With respect to private M&A, what are three things on top of mind for M&A practitioners in your jurisdiction?

Three things top of mind for private M&A practitioners in Ghana are: 

  • General: economic environment
  • General: political environment
  • Legal/general: transaction structuring

The Ghanaian economy has been going through turbulent headwinds. This impacted business activities generally and private M&A activity. Further, a general election is due in December this year. The general tendency of investors is to be cautious about making new investments in an election year.

With respect to private M&A, where does your jurisdiction see most deal activity?

Most private M&A deal activity is categorized as below mid-market. 

With respect to private M&A, what sector sees the most deal activity in your jurisdiction?

Most private M&A deal activity is seen in the Food, Beverage & Agribusiness sector. 

What are your predictions for private M&A deal volume in your jurisdiction during 2024?

Private M&A deal volume in 2024 is predicted to be less than 2023 deal activity, we anticipate investor hesitance during the election year. 

With respect to public M&A, what are three things on top of mind for M&A practitioners in your jurisdiction?

Three things top of mind for public M&A practitioners in Ghana are: 

  • General: economic environment
  • General: political environment
  • Legal/general: transaction structuring

The Ghanaian economy has been going through turbulent headwinds. This impacted business activities generally and public M&A activity. Further, a general election is due in December this year. The general tendency of investors is to be cautious about making new investments in an election year.

With respect to public M&A, where does your jurisdiction see most deal activity?

Most public M&A is categorized as below mid-market. 

With respect to public M&A, what sector sees the most deal activity in your jurisdiction?

Most public M&A deal activity is seen in the Food, Beverage & Agribusiness sector. 

What are your predictions for public M&A deal volume in your jurisdiction during 2024?

Public M&A deal volume in 2024 is predicted to be less than 2023 deal activity, we anticipate investor hesitance during the election year. 

Please share any other insights with respect to M&A in your jurisdiction:

Despite the recent economic downturn in Ghana, we have seen moderate deal flow across various sectors. Though ticket sizes are small this is still quite encouraging. We expect to see a significant rebound in deal activity as the economy begins to show signs of recovery.

Global M&A Trends Report

Ghana

(Africa) Firm Bentsi-Enchill, Letsa & Ankomah

Contributors Seth Asante

Updated 30 Jan 2024