Standard Chartered M&A advisory has emerged as the top mergers and acquisitions financial adviser in West Africa by deal value, and the bank says recent economic reforms are winning global investors back to the region, including Nigeria. The ranking underlines how much corporate dealmaking now flows through the lender’s corporate and investment banking arm.
Standard Chartered M&A leadership in West Africa
The bank says it has built a long track record across the continent, advising on cross-border transactions worth more than 50 billion dollars over the past 15 years. Those deals span oil and gas, chemicals, metals and mining, healthcare and financial services. Recent mandates include advising West China Cement on its acquisition of operations in the Democratic Republic of Congo.
For Nigeria, the message is that the country remains central to West African dealmaking. As Africa’s largest economy and most populous market, Nigeria is a magnet for cross-border investment in energy, banking, consumer goods and infrastructure, and the bank wants to keep advising on the biggest of those transactions.
Why reforms matter for investors
Standard Chartered says reforms across several African markets are helping to win back investors who had grown cautious. In Nigeria, the floating of the naira and the removal of the petrol subsidy were painful for households, but they also removed two of the biggest distortions that had kept foreign capital on the sidelines.
When currencies trade more freely and prices reflect the true cost of fuel, investors can plan with greater confidence. The bank argues that this clearer picture is one reason dealmaking interest is picking up again across West Africa, even as the wider global environment stays uncertain.
A rethink of acquisition finance
Alongside the ranking, the lender is urging a rethink of how acquisitions are funded on the continent. It says smarter, more flexible acquisition finance could revive merger activity that has been held back by tight credit and high borrowing costs. The push reflects a belief that good deals are available but that funding structures need to catch up.
For Nigerian companies, better access to acquisition finance could make it easier to buy rivals, expand into new markets or take over assets that multinationals are selling. Several global banks have trimmed their African footprints in recent years, leaving openings for local and regional players ready to grow through acquisitions.
What it means for dealmaking
The combination of a top regional ranking and a call for fresh thinking on funding signals where the bank sees the market heading. If reforms hold and financing improves, West Africa could see a stronger run of mergers, acquisitions and capital raises in the months ahead.
Much still depends on stability. Investors want predictable policy, steady exchange rates and clear rules before committing large sums. For now, Standard Chartered’s position at the top of the West African deal table suggests confidence is returning, with Nigeria expected to remain at the centre of the action.
The road ahead for Nigerian companies
Nigerian boardrooms will be watching closely. A pickup in mergers and acquisitions usually points to rising confidence in the wider economy, since firms only buy rivals or expand when they expect future growth. It can also reshape entire sectors, from banking and fintech to cement, telecoms and consumer goods, as stronger players absorb weaker ones.
There are risks too. Deals funded with expensive debt can leave companies stretched if revenues disappoint, and a wave of consolidation can reduce competition. Regulators in Nigeria will need to balance the benefits of bigger, better-capitalised firms against the need to protect consumers and keep markets open. Even so, the direction of travel, for now, is toward more activity rather than less.
