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Deloitte Restructuring Survey 2024

Our 2024 Restructuring Survey saw the highest participation since its inception in 2014, registering a 42% increase in responses compared to 2023. This year, we covered four key African economies: South Africa, Kenya, Nigeria, and Ghana making its debut.

Our survey provides valuable insights into the current state of restructuring across Africa amidst global and local headwinds. We produced a dedicated report for each jurisdiction, and this report focuses on the Kenyan restructuring market, where we recorded a 28% increase in responses compared to 2023. 

Key findings from Kenya’s restructuring professionals and C-suite include:
  • Operational restructuring: the most effective lever to maximize shareholder value. Respondents ranked operational restructuring as the second most likely form of restructuring and insolvency activity in Kenya after management-led informal restructuring.
  • Informal structuring: Out-of-court (‘informal’) forms of turnaround and restructuring are anticipated by respondents to be the most common in 2024. This may partly reflect frustrations creditors have with court-driven processes and partly, the perceived cost of an advisor-led restructuring.
  • Administration: 72% of survey respondents believe the main purpose of administration is to be the rescue of the company, and this could be achieved more by the early identification of distress. Early identification of distress is the most important change needed for rescue, and this responsibility lies with both the company directors and lenders.
  • The 3 top changes respondents want to see are specialized insolvency courts, consequences for wrongful trading, and increased timelines for administration proceedings.

Comments from some of our respondents

Some results from our survey

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