Led by $911.46m private equity deal with Commercial International Bank (Egypt), Middle East and Africa’s financial services industry saw a rise of 4.07% in cross border deal activity during Q2 2022, when compared to the last four-quarter average, according to GlobalData’s deals database.

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A total of 32 cross border deals worth $1.4bn were announced for the region during Q2 2022, against the last four-quarter average of 30.75 deals.

Of all the deal types, venture financing saw most activity in Q2 2022 with 17 deals, representing a 53.1% share for the region.

In second place was M&A with nine deals, followed by private equity deals with six transactions, respectively capturing a 28.1% and 18.8% share of the overall cross border deal activity for the quarter.

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In terms of value of cross border deals, private equity was the leading category in Middle East and Africa’s financial services industry with $1.27bn, while venture financing and M&A deals totalled $127.94m and $36.89m, respectively.

Middle East and Africa financial services industry cross border deals in Q2 2022: Top deals

The top five financial services cross border deals accounted for a 92.02% share of the overall value during Q2 2022.

The combined value of the top five cross border deals stood at $1.32bn, against the overall value of $1.4bn recorded for the quarter.

1) ADQ $911.46m private equity deal with Commercial International Bank (Egypt)

2) The $185m private equity deal for 23.97% stake in Capital Bank of Jordan PSC by The Saudi Public Investment Fund

3) LeapFrog Investments and Tana Africa Capital $110m private equity deal with InterSwitch

4) The $68.5m private equity of Fawry for Banking Technology and Electronic Payments by ADQ

5) A15 for Digital technology,CDC Group,Clay Point Investors,Global ventures,Helios Capital Ventures,Kora Management,Nclude,PayPal Ventures and The Netherlands Development Finance(FMO) $50m venture financing deal with PayMob Solutions