PODCAST | M&A and private equity trends to watch in 2024

In this edition of Business Law Focus, host Evan Pickworth interviews joint heads of ENSafrica corporate and commercial, Doron Joffe and Julius Oosthuizen, to uncover the trends, challenges and opportunities shaping mergers & acquisitions (M&A), private equity and general deal-making in SA, and look forward to what is coming down the road in 2024.

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The Context

International investors still regard SA (together with Kenya and Egypt) as a gateway into the continent. SA’s developed financial services sector remains a keen attraction for foreign companies. While foreign investment activity has slowed down, international corporates and private equity funds continue to look for opportunities in SA.

In recent years, a range of factors have impacted the M&A landscape in SA, including the socioeconomic environment, regulatory changes, technological developments, the Covid-19 pandemic and sluggish economic growth, coupled with the rising repo rates and high unemployment.

Domestic challenges such as load-shedding have also had a negative effect on the economy, while presenting new opportunities in the energy space.

Generally, with a few exceptions, SA regulators have been fairly efficient and progressive in assessing deals requiring their approval. However, in some instances, resources and capacity challenges have been cited as key obstacles to deals.