Mergers and acquisitions in South Africa are set to rebound this year as the $405-billion economy starts to show signs of recovery, according to Investec. As macroeconomic metrics improve around the world, South African companies are likely to expand abroad while overseas firms explore attractively priced assets in the local market, according to Marc Ackermann, head of corporate finance and co-head of investment banking for the country at the specialist lender with operations in the UK and South Africa.