Baker Tilly strengthens its corporate finance capabilities in Africa
Baker Tilly Majer (Morocco) continues to build its local network with the addition of Burj Finance, one of the most active independent private banks in Morocco and a market leader in corporate finance.
Effective immediately, Burj Finance will commence trading as Baker Tilly Burj Finance.
A mature player in the Moroccan market, Baker Tilly Burj Finance brings highly specialised skills and tailored support across all areas of corporate finance, including mergers and acquisitions, fundraising, capital transmission and investment advisory.
“Africa is an exciting region right now and the new African Continental Free Trade Area (AfCFTA), effective 1 January 2021, brings the potential to transform this region even further”, said Ted Verkade, Baker Tilly network CEO.
“Clients need integrated solutions to their business needs to help them make bold decisions around tomorrow’s challenges. With the addition of Baker Tilly Burj Finance, we not only strengthen our capabilities in Morocco, but also our ability to offer that truly comprehensive service across the entire Africa region.”
After an abysmal first half for M&A globally in 2020, dealmakers roared back into action, completing US$2.5 trillion in mergers and acquisitions in the second half of 2020, according to research conducted by Baker Tilly International and M&A intelligence provider Mergermarket for the Global Dealmakers: Cross-border M&A in 2021 report.
“M&A has bolted out of the gates in many regions in 2021 as dealmakers re-affirm their focus to strategic decisions as compared to last year when the focus was on survival. All indication are that deal flow will be strong for most regions this year”, explains Michael Sonego, Baker Tilly Global Corporate Finance Lead.
”The strong market sentiment, and the high deal activity currently being experienced has dampened fears that the market was in for a long recovery, as we saw after the global financial crisis in 2009. Welcoming corporate finance specialists like Baker Tilly Burj Finance allows us to further support clients as the current economic recovery gains momentum in the year ahead and businesses look to pursue M&A opportunities to grow.”
Chakib Zaari, Managing Partner of Baker Tilly Majer said: “I am excited to be welcoming Baker Tilly Burj Finance into our Moroccan network. In addition to complementing our existing, more traditional, services, their specialism in corporate finance allows us to deliver that comprehensive, one stop shop, support our clients and investors in Morocco demand. Together, we are building a structure that allows us to ensure our clients are prepared for tomorrow.”
Salma Benaddou, Managing Partner, M&A added: “We are extremely pleased to be part of the Baker Tilly network, both locally here within Morocco and globally. Our team is built around an entrepreneurial culture that promotes excellence and commitment: principles which guide our relationship with our customers. In Baker Tilly, we have found a team of experts that shares that vision.”
This latest development comes hot on the heels of the release of the 2021 IAB World Survey, which saw Baker Tilly break into the Top 10 in Africa both in terms of combined revenue and people.