M&A activity heats up in Africa as investors bet on growth

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Concerns on the scale of the Ebola crisis, current levels of political unrest and plunging commodity prices would have sent investors rushing out of Africa not long ago. But dealmaking in the sub-Saharan region is buoyant as most investors set aside short-term worries and bet big on the continent’s growth prospects.

“Africa is on the radar,” says Miguel Azevedo, head of sub-Saharan Africa investment banking at Citigroup in London. “Companies are developing strategies to go into the region, and M&A is naturally following up.”

In the past week a host of multinationals announced almost $8bn in deals across several sectors, demonstrating the appetite that exists to tap the region’s growing consumer markets.

Read more: M&A activity hots up in Africa as investors bet on growth – FT.com.