Middle East and Africa’s financial services industry saw a rise of 27.78% in deal activity during June 2022, when compared with the last 12-month average, led by The Saudi Public Investment Fund’s $185m private equity deal for 23.97% stake in Capital Bank of Jordan PSC, according to GlobalData’s deals database.

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A total of 23 financial services industry deals worth $323.6m were announced for the region in June 2022, against the 12-month average of 18 deals.

Of all the deal types, venture financing saw most activity in June 2022 with 16 transactions, representing a 69.6% share for the region.

In second place was M&A with six deals, followed by private equity deals with one transactions, respectively capturing a 26.1% and 4.4% share of the overall deal activity for the month.

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In terms of value of deals, private equity was the leading category in Middle East and Africa’s financial services industry with $185m, while venture financing and M&A deals totalled $102.04m and $36.51m, respectively.

Middle East and Africa financial services industry deals in June 2022: Top deals

The top five financial services deals accounted for 96.05% of the overall value during June 2022.

The combined value of the top five financial services deals stood at $310.76m, against the overall value of $323.6m recorded for the month.

The top five financial services industry deals of June 2022 tracked by GlobalData were:

1) The Saudi Public Investment Fund $185m private equity deal with Capital Bank of Jordan PSC

2) The $36.75m venture financing of HyperPay by AB Ventures,Amwal Capital Partners and Mastercard

3) Access Bank $36.51m acquisition deal for 83.4% stake with Sidian Bank

4) The $30m venture financing of Fido by Fortissimo Capital and Yard Ventures

5) Chimera Investment,DisruptAD,Endeavor Catalyst,Knollwood Investment Advisory,OTF Jasoor Ventures,Reciprocal Ventures and Shorooq Partners $22.5m venture financing deal with NymCard Payments