The first quarter of 2014 has seen a surge in M&A activity culminating in the announcement at the beginning of April of merger talks between Holcim and Lafarge to create a $40 billion group in the global cement industry. Closer to home, Africa offers great growth potential. This is reflected in the financial services sector by the recent announcement by Atlas Mara that it will acquire the Development Bank of Rwanda and Botswana based BancABC. Atlas Mara was launched late last year to invest in the African banking sector and is fronted by Bob Diamond, the former Chief Executive of Barclays.