Middle East & Africa M&A by the Numbers: Q4 2025

The Middle East and Africa M&A market experienced a growth rate of 146% in deal value on a year-over-year basis driven by strong performance in the UAE. From a deal volume standpoint, the total count dropped from 335 to 328 deals on a year-over-year basis. Kenya saw a major jump in deal values driven off two key deals in the alcohol and telecommunications sector with a total amount of $5,9bn spread across 10 deals. 7 out of Top 10 deals involved a foreign buyer marking a continued trend in cross border deals. In conclusion, we saw evidence of Diageo’s asset disposal strategy at play as they offloaded their Kenyan operations to Japanese-headquartered Asahi Group Holdings Ltd.