Cairo – Mubasher: Egypt has ranked the third largest African market in terms of corporate transactions during the first six months of 2018, the African focused research firm StratLink Ltd said.

The Egyptian market saw mergers and acquisitions (M&As), and initial public offering (IPO) deals worth a total of $1.42 billion in H1-18, Kenyan newspaper Business Daily reported, citing StratLink's data.   

The Stratlink data highlights that M&As have continued to dominate accounting for a third of Africa's deals in the same period.

“This is reflective of the spirited attempt by companies to maintain a competitive foothold,” Stratlink senior analyst Julians Amboko commented.

Morocco also came in third place with the same value of Egypt's transactions, whereas South Africa and Nigeria topped the list.