DealMakers AFRICA to Host West Africa M&A Awards in Lagos | 2024

DealMakers AFRICA is set to host the West Africa edition of its annual Mergers and Acquisitions (M&A) Awards in Lagos, Nigeria, recognizing advisory firms driving corporate finance activity across the region. The awards, a key fixture in the African financial calendar, underscore Lagos’s growing importance as a financial hub and reflect the continued resilience of dealmaking despite prevailing economic headwinds. This year’s event builds on the momentum of the inaugural West Africa awards held in March 2024, and will be mirrored by a similar ceremony in Nairobi, Kenya, signaling a deepening commitment to recognizing excellence in financial advisory across both East and West Africa.

Tracking Deal Activity Across the Continent

Founded in 2008, DealMakers AFRICA has established itself as a leading source of information on M&A and private equity activity in Africa, excluding South Africa. The platform publishes quarterly reports detailing transactions, identifying key advisory firms, and ranking them based on deal value, and volume. These league tables, produced on a country-by-country basis, provide a comprehensive overview of the dealmaking landscape and serve as the foundation for the awards process. DealMakers AFRICA aims to provide a granular understanding of the financial ecosystem, fostering transparency and recognizing the contributions of those shaping it.

The awards themselves are based primarily on objective criteria – the number and value of transactions successfully concluded within the review period. However, three prestigious categories – Deal of the Year, Private Equity Deal of the Year, and Individual DealMaker of the Year – incorporate a nomination process, allowing advisory firms across East and West Africa to submit candidates for consideration. This blended approach ensures both quantitative rigor and qualitative assessment in recognizing outstanding achievement.

Resilience in the Face of Economic Challenges

Marylou Greig, Co-founder of DealMakers AFRICA, emphasized the significance of the awards in acknowledging the perseverance of advisory firms operating in a challenging economic climate. “The awards reflect the resilience of advisory firms operating within the region despite prevailing economic challenges,” Greig stated, as reported by Vanguard Nigeria. She highlighted the strength of the West African dealmaking landscape, noting that market participants have demonstrated a proactive approach to transactions even amidst a complex global and regional environment. This proactive approach is particularly noteworthy given the fluctuating commodity prices, currency volatility, and geopolitical uncertainties that have characterized recent years.

The success of advisory firms in navigating these challenges underscores their deep understanding of the local markets and their ability to structure deals that deliver value for all stakeholders. The quality of transactions completed, Greig added, reflects not only strong deal-making capability but also the depth of professional expertise that exists across the region’s advisory firms.

Lagos: A Regional Financial Hub

The choice of Lagos as the host city for the West Africa awards is no accident. The city has firmly established itself as a major financial and dealmaking hub for the region, attracting significant investment and fostering a vibrant ecosystem of financial professionals. Hosting the awards in Lagos, according to Greig, “highlights the city’s role as a key financial and deal-making hub for the region.” The event aims to recognize the advisors, financiers, and legal professionals who work behind the scenes to facilitate complex transactions, contributing to investment, corporate growth, and the strengthening of investment markets across West Africa.

This recognition extends beyond simply celebrating successful deals. The awards also acknowledge the collaborative nature of the M&A ecosystem, recognizing that each transaction is the product of months of hard work, creativity, and negotiation involving multiple stakeholders. DealMakers AFRICA emphasizes that the awards provide an opportunity to acknowledge these collective contributions.

Expanding Coverage and Building Relationships

While DealMakers AFRICA currently focuses on tracking deal activity across East and West Africa, the platform has ambitious plans to expand its coverage to include North and Southern Africa. This expansion would support the development of more representative league tables and awards that accurately reflect the realities of dealmaking activity across the entire continent. The long-term objective is to build closer relationships with advisory firms throughout Africa, fostering a more comprehensive understanding of the continent’s financial landscape.

This expansion aligns with a broader trend of increasing investment and economic integration across Africa. Initiatives like the African Continental Free Trade Area (AfCFTA) are expected to further stimulate cross-border M&A activity, creating recent opportunities for advisory firms and driving economic growth. The AfCFTA, which aims to create a single market for goods and services across the continent, is projected to boost intra-African trade by as much as 52.2% by 2022, according to the United Nations Economic Commission for Africa (UNECA).

Banwo & Ighodalo Shortlisted for Prestigious Award

Adding to the excitement surrounding the awards, Nigerian law firm Banwo & Ighodalo has been shortlisted for the DealMaker of the Year (West Africa) award. This recognition highlights the firm’s significant contributions to the region’s M&A landscape and underscores the growing prominence of Nigerian legal expertise in international transactions. As noted on Instagram, the firm’s nomination reflects its consistent track record of advising on complex and high-value deals.

Looking Ahead: Procedural Next Steps

The immediate next steps involve finalizing the nominations for the Deal of the Year, Private Equity Deal of the Year, and Individual DealMaker of the Year categories. The judging panel, comprised of industry experts and seasoned professionals, will carefully review the submissions and select the winners based on a combination of objective criteria and qualitative assessment. The awards ceremony in Lagos is scheduled for March 2026, and is expected to attract a high-profile audience of dealmakers, investors, and government officials. Following the West Africa event, DealMakers AFRICA will turn its attention to Nairobi, where a similar ceremony will be held to recognize excellence in East Africa’s financial advisory sector.

The continued success of the DealMakers AFRICA awards is a testament to the growing sophistication and dynamism of the African financial markets. By recognizing and celebrating the achievements of those driving corporate finance activity across the continent, the platform is playing a vital role in fostering investment, promoting economic growth, and shaping the future of African business.