What You Need to Know
The East Africa Finance Awards celebrated leading dealmakers in Nairobi, recognizing excellence in mergers and acquisitions for 2025. Notable awards included Vodacom’s significant acquisition of Safaricom and LeapFrog Investments’ exit from Goodlife Pharmacy, showcasing the region’s evolving corporate finance landscape.
Africa-Press – Kenya. East Africa’s corporate heavyweights and the advisers behind some of the region’s most consequential transactions were honoured in Nairobi at the annual Dealmakers AFRICA Annual Gala Awards.
The ceremony brought together leading investment banks, legal firms and corporate executives to recognise standout performance in mergers and acquisitions (M&A) and corporate finance during 2025.
The awards, which have become a benchmark for excellence across the continent, are largely determined by objective metrics such as the value and volume of transactions executed.
Only a handful of categories — including Deal of the Year, Private Equity Deal of the Year and Individual DealMaker of the Year — rely on subjective assessment.
These are judged on criteria such as transformational impact, execution complexity, deal size and long-term value creation.
The biggest winner of the night went to Vodacom’s acquisition of an additional 20 per cent stake in Safaricom. T
he $2.1 billion (Sh272 billion) transaction, one of the most significant in the region’s telecommunications and mobile money sectors, raised Vodacom’s shareholding to 55 per cent.
Judges noted that the deal stands out not only for its scale but also for its strategic implications, positioning Vodacom to deepen its footprint in digital and financial services across Kenya and Ethiopia.
By consolidating its stake in Safaricom, the transaction is expected to unlock new growth opportunities and accelerate financial inclusion in the region.
The deal edged out strong competition from other high-profile transactions, including Ethio Telecom’s initial public offering, Diageo’s sale of its majority stake in East African Breweries, and CA Sales’ acquisition of a stake in Trapin Holdings.
In the private equity category, the spotlight fell on LeapFrog Investments’ exit from Goodlife Pharmacy, which clinched the Private Equity Deal of the Year award.
The exit marked the culmination of a partnership that began in 2017 and helped reshape East Africa’s pharmacy retail landscape.
LeapFrog’s investment is widely credited with formalising and scaling a modern pharmacy retail model in a market that had previously been fragmented and informal.
The successful exit underscores the growing maturity of private equity investments in the region and highlights increasing investor confidence in consumer-focused sectors.
Individual excellence was also recognised, with Richard Harney of Bowmans Kenya named Individual DealMaker of the Year.
A senior partner and co-founder of the firm, Harney was lauded for his role in advising on several complex, high-value transactions, including Diageo’s divestment in East African Breweries and Safaricom’s MTN Programme.
His recognition also reflects a broader career marked by influence and leadership in corporate law, further underscored by his recent elevation to Senior Counsel — a first within his firm.
Beyond individual deals and personalities, the awards also highlighted the institutions driving East Africa’s dealmaking ecosystem.
In the M&A category, Absa emerged as the top financial adviser by deal value, while Stanbic Bank and I&M Burbidge Capital tied for the highest deal activity.
On the legal side, ENS took the top spot by deal value, with Bowmans leading in deal activity. Stanbic Bank demonstrated strong all-around performance, topping the general corporate finance category by transaction value and sharing the lead in transaction activity with Noblestride Capital.
Legal advisory honours in this segment were split among leading firms, with Dentons ranking first by transaction value and ALN | Anjarwalla & Khanna leading in transaction activity.
The awards reflect a year in which East Africa’s deal making landscape continued to evolve, driven by cross-border investments, telecoms expansion and a steady flow of private equity activity.
They also underscore the critical role played by advisers — from investment banks to law firms — in structuring and executing increasingly complex transactions.
Originally launched in South Africa in 2000 and expanded across the continent in 2008, the Dealmakers AFRICA Awards have grown into a key barometer of corporate finance activity.
The Dealmakers AFRICA Awards were launched in South Africa in 2000 to recognize excellence in corporate finance. They expanded across the continent in 2008, becoming a benchmark for evaluating performance in mergers and acquisitions. The awards are determined by both objective metrics and subjective assessments, reflecting the dynamic nature of the financial landscape in East Africa. Over the years, they have highlighted significant transactions that shape the region’s economic growth and investment climate.
