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.

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