Thread by @Nairametrics

#Businesses and #startups in #Nigeria continue to capitalise on the deal-making successes recorded in 2020.

FY 2020 had a total of 106 #Deals valued at $4.3 billion (N1.6 trillion).

In Q1 2021, @Nairametrics captured 28 deals valued at $2.93 billion (N1.2 Trillion).

Our @Nairamentrics Q1 #DealsBook summarises major corporate deals in the first quarter of 2021 as sourced from official press releases and media reports.

Here's a link to download the publication:
nairalytics.com/deal-book

These deals being executed in the first three months of the year, valued at $2.93 billion is already 69% of the entire $4.3bn recorded in 2020.

The deal-making pace is noteworthy and remarkable considering the impact of the challenging business climate in...

…Nigeria affecting various economic indicators across board.

Such as the 0.11% #GDP growth rate for Q4 2020, #inflation rate at 18.17% for March 2021, and an #unemployment rate of 33.3% as at Q4 2020.

Sources of funds include both domestic and foreign investments covering a variety of types. Such as equity injections, outright acquisitions, debt financing, bonds, and commercial paper issuances.

The purpose of funds ranged from simple working capital for domestic operations to cross-border expansion of businesses.

Albeit some organizations did not disclose the value of deals consummated in the period under review.

The prevailing NAFEX official rate for the periods these transactions were announced was relied upon.

Amongst the 28 deals recorded here is a list of major deals executed :

In January:
Total Plc raised $36.7 million | N15billion
@cowrywise raised $3 million | N1.226 billion

In February:
@ecobank_nigeria raised $300 million | N122.6 billion
@coronationmb raised $8.9 million | N3.63 billion.

In March:
@kudabank raised $25million | N10.21 billion
@theflutterwave raised $170 million | N69.47 billion