A favourable economic environment together with the persistently low cost of issuing corporate sector debt and greater investor appetite for lower quality credit have created conditions that have been conducive to a surge in global merger and acquisition (M&A) activity [see chart on the left of slide 8], and in particular of leveraged buy-outs (LBOs).
CLOSING ADDRESS DELIVERED  BY  MR. MILLISON NARH  FIRST DEPUTY GOVERNOR, BANK OF GHANA  AT 2017 CONTINENTAL SEMINAR OF THE ASSOCIATION OF AFRICAN CENTRAL BANKS (AACB) AT MOVENICK AMBASSADOR HOTEL ON MAY 05, 2017  The Executive Secretary, AACB, Colleague Central Bankers, Distinguished Guests, Ladies and Gentlemen,  Introduction  1.