Initially Published - 8/12/2014. Updated - 12/2/2015.
The Nigerian sector saw strong acquisition activity in 2014 with transactions totalling $2.5bn seen. International institutions were increasing their stakes in Nigerian banks to tap into the inherent potential observed in low penetration rates, while others were expanding existing operations or seeking exposure to Nigeria’s high risk-high return investment market.
Qatar National Bank (QNB), Nedbank, Skye Bank and Atlas Mara were among the key acquirers, while Ecobank, Enterprise Bank, Union Bank and Mainstreet Bank are among those that were acquired entirely or in part. The Carlyle Group, US private equity giant was the last mover, acquiring an 18% stake in Diamond bank for $147m in November.
The estate intel infographic below shows the acquisition activity seen in the last few months and also covers what the implications are for the real estate sector.
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Figures from Financial Times, Reuters and Thisday.
Put this infographic on your site with this embed code below.
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