Middle East and Africa’s financial services industry saw a rise of 64.29% in deal activity during April 2021, when compared with the last 12-month average, led by $272.33m acquisition of Amana Cooperative Insurance and Saudi Enaya Cooperative Insurance, according to GlobalData’s deals database.

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A total of 23 financial services industry deals worth $433.7m were announced for the region in April 2021, against the 12-month average of 14 deals.

Of all the deal types, M&A saw most activity in April 2021 with 13 transactions, representing a 56.5% share for the region.

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In second place was venture financing with seven deals, followed by private equity deals with three transactions, respectively capturing a 30.4% and 13.04% share of the overall deal activity for the month.

In terms of value of deals, M&A was the leading category in Middle East and Africa’s financial services industry with $272.33m, while venture financing and private equity deals totalled $151.35m and $10m, respectively.

Middle East and Africa financial services industry deals in April 2021: Top deals

The top five financial services deals accounted for 94.2% of the overall value during April 2021.

The combined value of the top five financial services deals stood at $408.53m, against the overall value of $433.7m recorded for the month.

The top five financial services industry deals of April 2021 tracked by GlobalData were:

1) The $272.33m merger of Amana Cooperative Insurance and Saudi Enaya Cooperative Insurance

2) The $110m venture financing deal with Tamara by Checkout. com

3) A15, Global ventures and The Netherlands Development Finance(FMO)’s $15m venture financing of PayMob Solutions

4) The $10m venture financing of Co-operative Bank of Kenya by eco.business Fund

5) ImpactAssets, Mercy Corps, Newfund Management, Rasa, ResiliAnce and TechStars’ private equity deal with OKO Finance for $1.2m.