Bank of America Seeks Strategic Acquisitions Amid Global Challenges

Bank of America Corporation expects a strong deal-making atmosphere in South Africa this year, despite ongoing global fluctuations, as indicated by the head of its local operations.

The bank is on the verge of closing deals in the technology, telecommunications, digital, retail, and infrastructure sectors within the continent’s largest economy and beyond, as the long-term investment allure remains robust for both domestic and international investors, noted Anthony Knox.

“South Africa is home to top-notch, well-managed companies with leadership teams adept at navigating uncertain and volatile environments, alongside valuations that continue to be appealing compared to many global markets,” he stated.

“Strategic initiatives are advancing in sectors where investors recognize long-term growth and funding stability, making Africa and South Africa attractive investment locales.”

Recently, Bank of America released insights on the leading African mobile operator MTN, which is in the process of acquiring the remaining stake in IHS Holding Ltd.

Furthermore, it successfully facilitated a deal involving Stanlib’s acquisition of a portion of billionaire Strive Masiyiwa’s African Data Centres early this year.

Read:

MTN embarks on R35bn IHS Towers full acquisition

South Africa leads Africa’s 2025 M&A deal values

The bank is also advising on Diageo plc’s divestment of its stake in East African Breweries plc to Japanese buyer Asahi Group Holdings plc for $2.3 billion.

Africa boasts the world’s fastest-growing and youngest population, with citizens increasingly utilizing technology to fulfill their needs for services such as banking, shopping, and entertainment, aiding in bridging gaps in limited physical infrastructures.

“Over time, the increasing digital demand across Africa will drive continuous investments in local data infrastructure, connectivity, and technological capabilities, with noticeable momentum already developing in parts of this ecosystem,” Knox emphasized.

Read:

African fintech: From USSD to smartphone apps and beyond

Dealmaker extraordinaire: Vukile’s Laurence Rapp anticipates more deals in Spain and SA

The continent is the origin of mobile money, with its digital payments and fintech platforms expanding rapidly, as major platforms like TymeBank and Airtel Money signal potential exploration of public-market options in the future.

According to Boston Consulting Group, fintech revenues are forecasted to exceed $65 billion by 2030, marking an increase of over six times from current figures.

There may be a brief pause on initial public offerings as companies seek enhanced market stability, Knox suggested.

“In uncertain times, pricing and raising capital efficiently can become increasingly difficult, particularly regarding IPO activities,” he explained.

Nevertheless, the bank has successfully raised significant debt and equity for companies approaching 2026.

It arranged $1.5 billion in debt for Sasol, Sibanye Stillwater, and Absa Group, along with an additional R3 billion in equity for Vukile Property Fund’s expansion projects in Italy, he revealed.

© 2026 Bloomberg