Nairobi, March 25 -- Kenya recorded merger and acquisition deals worth $600.3 million (Sh79.2 billion) last year, leading its East African peers according to a new report.

The country was ranked second in 2022 when it witnessed larger deal values of $1.12 billion (Sh149 billion) to trail Sudan, which topped the charts with $1.41 billion (Sh186.4 billion) worth of transactions. Sudan subsequently dropped out of the top ranking in 2023 when its civil war intensified.

Last year, Kenya had 95 deals, including the sale of James Finlay Kenya's tea farms to Sri Lanka's LOLC Holdings which was valued at $23.6 million (Sh3.1 billion), according to DealMakers Africa magazine.

Others were the sale of a 31.25 percent stake in Lake Turkana Wind Pow...