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African Debt Issuance Raised $15.5Bn Proceeds for 2015

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Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals, has released the annual investment banking analysis for Sub-Saharan Africa.

According to estimates from Thomson Reuters / Freeman Consulting, Sub-Saharan African investment banking fees reached $476.4 million in 2015, 24% more than the value recorded during the same period of last year. Fees from completed M&A transactions totalled $174.5 million, a 96% increase from last year and the highest annual period since 2011.

Sneha Shah, managing director, Africa, Thomson Reuters, said: “The value of announced M&A transactions with any Sub-Saharan African involvement reached US$66.7 billion for 2015, 73% more than the value registered during 2014.”

“Sub-Saharan African equity and equity-related issuance totaled $3.9 billion during the fourth quarter of 2015, a 93% sequential increase in value from the third quarter of 2015. Sub-Saharan African debt issuance raised a total of $15.5 billion in proceeds for 2015, a 22% decline compared to last year, and the lowest annual period since 2012,” she added. 

In respect to investment banking fees, fees from debt capital markets underwriting also increased 41% year-on-year to reach $63.0 million.  Syndicated lending fees fell 21% from over a year ago to US$108.1 million.

Equity capital markets underwriting fees grew 14% to US$130.8 million, and accounted for 27% of the overall Sub-Saharan African investment banking fee pool.

Rand Merchant Bank earned the most investment banking fees in Sub-Saharan Africa for 2015, a total of $48.5 million for a 10.2% share of the total fee pool. 

Rand Merchant Bank also topped the completed M&A fee rankings during 2015. Java Capital (Proprietary) Ltd took the lead for ECM underwriting with 14.4% share of the ECM fee pool. 

Deutsche Bank took first place for DCM underwriting with 13.2% share of the total DCM fees. Standard Chartered ranked first place for syndicated loans fees and captured 11.1% of the loans fee share.
 
As for M&A deals, outbound activity increased 13% compared to 2014 and reached US$6.7 billion in deal value.

South Africa’s overseas acquisitions accounted for 74% of Sub-Saharan African outbound M&A activity, while acquisitions from Mauritius and Seychelles companies accounted for 19% and 4%, respectively.

Inbound M&A significantly grew by 283% year-on-year to US$41.1 billion, the highest annual period in any given year. Domestic and inter-Sub-Saharan African M&A reached US$11.9 billion, down 32% from last year.

The Consumer Products & Services industry was the most active sector with $24.0 billion worth of deals, and accounted for 36.0% of Sub-Saharan African involvement M&A.

The largest deal with Sub-Saharan African involvement in 2015 was the $22.6 billion reverse takeover transaction of Steinhoff International Holdings NV facilitated by an offer from Genesis International Holdings NV. Goldman Sachs topped the 2015 announced Any Sub-Saharan African Involvement M&A League Table with US$15.9 billion and captured 23.8% market share.
 
In respect to Equity Capital Markets, Sub-Saharan African ECM activity was up by 37% year-on-year to reach US$9.3 billion in 2015. This is the highest annual period for the region’s ECM activity since 2007. 

Ten initial public offerings raised $544.5 million and accounted for 6% of the ECM activity in the region, while follow-on offerings and convertibles accounted for 81% and 13% market share, respectively. 

Naspers Ltd raised US$2.5 billion from a follow-on offering in December, the largest equity offering in the region so far this year. Citi took first place in the 2015 Sub-Saharan African ECM ranking with a 21% market share.

As for Debt Capital Markets, South Africa was the most active issuer nation with $5.5 billion in bond proceeds which accounted for 35% of market activity, followed by Ivory Coast with 28% market share worth US$4.3 billion in proceeds. The Republic of Angola offered the largest bond issuance for the region this year with its $1.5 billion sovereign debt in the form of Eurobonds.  Deutsche Bank took the top spot in the Sub-Saharan African bond ranking for 2015 with a 19% share of the market.


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Stakeholders Demand Stronger Governance and Infrastructure to Drive Tech Adoption @ Lagos AI Summit

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As AI adoption accelerates across Nigeria, leaders at the “AI in Action Now” conference 2026 have called for a balance between rapid innovation and strict regulatory governance. The event, held at the Lagos Oriental Hotel, highlighted both the doggedness of Nigerian builders and the risks of unregulated data usage.

Dotun Adeoye, Co-Founder of AI Nigeria, raised alarms over “Shadow AI”, a trend where employees upload sensitive official documents to public AI platforms. He praised the Nigerian Data Protection Commission (NDPC) for its recent aggressive stance, including multi-million-dollar fines against major banks and social media brands.

“Innovation without governance is dangerous. The regulator now has the job of educating players. We are working in partnership with them to ensure players don’t just get fined, but actually understand how to protect data locally rather than storing it abroad, ” Adeoye noted.

Addressing issues of lack of infrastructure to carry AI adoption, Conference Convener Debola Ibiyode admitted that while Nigeria lacks the traditional foundation for AI adoption, the tech community cannot afford to wait.

“The simple answer is we don’t have the infrastructure, but Nigeria has never really had infrastructure to drive anything, and we still thrive, ” Iboyode said, encouraging students and builders to look beyond current limitations. “Once we start to build based on what we have now, it will encourage those who need to provide the infrastructure to do their part. The world will not wait for us,” she insisted.

To bridge this gap, she highlighted the AI Foundry Africa, an incubator designed to mentor ideas into market-ready products.

Meanwhile, speaking to journalists on the sidelines, Biodun Ogunleye, the Lagos State Commissioner of Energy and Mineral Resources, echoed the sentiment that the government’s role is to facilitate the right environment through partnership. He emphasized that data generated from interactions with the government must have long-term value.

“We must ensure that in all facets from production to interaction with government, the tools required to ensure data has value are appreciated,” Ogunleye stated.

He concluded that through private-sector collaboration, the government can focus on its primary functions while leveraging AI to ensure the nation aspires for the future.


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35 Million Nigerians Face Acute Hunger in 2026, UN Warns

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About 35 million Nigerians face acute hunger risks in 2026, including three million children battling severe malnutrition, the United Nations has warned, attributing the crisis to collapsing global aid budgets and escalating violence in the northeast.

35 Million Nigerians Face Acute Hunger in 2026, UN Warns

UN Resident and Humanitarian Coordinator Mohamed Malick Fall disclosed this on Thursday during the launch of the 2026 humanitarian plan in Abuja, noting that the traditional foreign-led aid model proves unsustainable amid Nigeria’s escalating needs.

He highlighted dire conditions in Borno, Adamawa and Yobe states, where over 4,000 people perished in the first eight months of 2025 from surging suicide bombings and attacks—equalling the entire previous year’s toll.

The UN now targets $516 million to deliver lifesaving aid to 2.5 million people this year, a sharp drop from 3.6 million in 2025 and half of prior levels, forcing prioritisation of only the most critical interventions.

Fall stressed, “These are not statistics. These numbers represent lives, futures and Nigerians,” as shortfalls last year compelled the World Food Programme to halt support for over 300,000 children after resources dried up in December.

Yet, Fall acknowledged Nigeria’s increasing national ownership, including local funding for lean-season food assistance and proactive flood early-warning systems, signalling a shift toward self-reliant crisis response.


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NITDA Commits to Digital Inclusion for Persons with Disabilities

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The National Information Technology Development Agency (NITDA) has reaffirmed its commitment to inclusive digital development following the completion of a two-day digital literacy training for persons with disabilities (PWDs) in Abuja.

The programme, organised under NITDA’s Digital Literacy for All (DL4ALL) initiative, the programme trained 50 participants in practical digital skills to enhance their participation in Nigeria’s expanding digital economy.

In his remarks, the Director-General, Kashifu Inuwa CCIE, stated that the programme reflects the agency’s determination to ensure accessibility remains a core component of national digital transformation efforts.

He explained that genuine digital advancement cannot be realised without the inclusion of persons with disabilities, adding that millions of Nigerians remain constrained by limited access to accessible and inclusive digital platforms.

“In many cases, the problem is not the absence of digital tools but the lack of accessibility. Platforms that do not support assistive technologies, non-captioned content and inaccessible websites effectively shut people out and limit opportunities,” he added.

Inuwa further explained that the initiative aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritises inclusivity as a driver of national development. He stressed that persons with disabilities should be recognised as active contributors to economic growth rather than dependants.

“When equipped with the right skills and technologies, persons with disabilities become innovators, entrepreneurs and professionals who contribute meaningfully across sectors,” he added.

He acknowledged the role of Inclusive Friends Association (IFA) and SIMBED in delivering the training, describing the collaboration as a model of how government and civil society partnerships can advance inclusive development.

Highlighting NITDA’s broader digital literacy drive, the Director-General said the DL4ALL programme is a key component of the agency’s Strategic Roadmap and Action Plan, which targets 70 per cent digital literacy by 2027 and 95 per cent by 2030.

He explained that the initiative operates through three main tracks: an informal sector programme that has trained more than 480,000 Nigerians across 30 states and the Federal Capital Territory since September 2024; an education sector programme focused on embedding digital skills into learning institutions; and a workforce readiness programme designed to strengthen digital competence in both public and private sectors.

“This programme is not merely a pilot. It is proof that inclusive and intentional training works, and that persons with disabilities can excel when given equal opportunities,” Inuwa stated.

Also speaking, the Managing Director and Chief Executive Officer of SIMBED, Mr Daniel Onunkwo, described the training as a significant step towards closing the digital inclusion gap for persons with disabilities.

Onunkwo added that the initiative sends a strong message about equity and national progress, adding that SIMBED remains committed to expanding digital empowerment for persons with disabilities.

Similarly, the Executive Director of Inclusive Friends Association, Grace Jerry, represented by Tracy Agbamu, commended NITDA for demonstrating intentional leadership in promoting inclusion under the Renewed Hope Agenda.

She urged participants to continue applying the skills acquired and to serve as digital inclusion advocates within their communities.

The training programme further strengthens NITDA’s vision of building a digitally inclusive Nigeria where access to digital opportunities is determined not by physical ability but by empowerment and innovation.


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