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Home Investment

Dar records four M&A deals valued at $88 million in March 2023

by Editor
12/04/2023
in Investment
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Dar records four M&A deals valued at $88 million in March 2023
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Tanzania during March 2023 recorded four Merger and Acquisition (M&A) with a total value of $ 88.02 million in four sectors compared with a total deal value of 99.25 million recorded in six sectors in the same period last year.

According to the Tanzania Investment Bulletin for March 2023, the oil and gas sector took the lion’s share as it recorded one (M&A) deal worth $76.42 million followed by the energy sector that struck one (M&A) deal worth $10.6 million and lastly the manufacturing sector that struck $1 million.

“Mergers and acquisitions (M&A) are essential to any economy’s growth, stability and potential. Investors are increasingly aware that M&As are one of the quickest ways to expand their resources, increase their market share, or raise capital—all of which help them modernise their operations, make them more efficient, and boost their competitiveness,” according to the Tanzania Investment Bulletin for March 2023.

During February this year, M&A deals in Tanzania raked in $24.34 million (approximately 57bn/-).

The four M&A deals with a total value of $24.34 million were recorded in three different sectors that include energy, telecommunication and manufacturing.

During the month, the telecommunication sector accounted for the lion’s share of the recorded M&A deals registering one deal with a total value of $24.14 million.

The oil and gas sector took the lion’s share as it recorded one (M&A) deal worth $76.42 million followed by the energy sector that struck one (M&A) deal worth $10.6 million and lastly the manufacturing sector that struck $1 million. PHOTO | COURTESY.

The energy sector during the month recorded two deals worth $0.12 million while the manufacturing sector recorded one deal worth $0.08 million during February 2023.

According to the TIC Investment bulletin, the Government continues undertaking administrative, legal and regulatory reforms to improve the business environment and investment climates.

“The Government under H.E. President Samia Suluhu Hassan, has put business environment and investment policy reforms at the forefront. Thus, the Government has continued to engage in a wide range of policy, legal and regulatory reforms that create integrated, multi-instrument solutions to improve the investment climate and the ease of doing business environment,” according to the TIC Investment Bulletin for March 2023.

Tags: #LatestBusinessNews#LatestTanzaniaBusinessNews#LatestTBWNews#TanzaniaBusinessNews
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