In African markets, M&A success is determined less at signing and more in execution. While valuation, legal structure, and financing matter, the primary drivers of value are post-transaction governance, operational continuity, and stakeholder alignment.
Many deals fail to meet expectations not because the asset was poor, but because integration and execution risks were underestimated. Founder dependency, informal processes, weak financial controls, and human capital constraints often surface only after closing. In this context, buyers who rely solely on financial structuring or external consultants face significant execution gaps.
Effective M&A execution in Africa requires an operator mindset. Acquirers must be prepared to engage directly with management teams, stabilize operations, formalize governance, and gradually introduce systems without disrupting the underlying business. This is particularly critical in sectors such as logistics, energy services, mining support, and healthcare, where operational continuity is essential.
Successful acquirers apply conservative underwriting, prioritize cash-flow protection, and implement changes in phases. They also invest early in financial reporting, internal controls, and leadership alignment. In practice, execution capability is the real competitive advantage, and transactions are won by those who can operate—not just transact.