By Phakamisa NdzamelaInvestment banking fees in Sub-Saharan Africa fell 27% to $307.9m in 2012 compared with the previous year as mergers and acquisition fees fell by about 60%.“Fees from syndicated lending totalled US$83.8 million during 2012‚ accounting for 27% of the overall Sub Saharan African investment banking fee pool. Fees from M&A advisory saw the biggest year-on-year decline‚ falling 60% from US$221.1 million during 2011 to US$87.7 million in 2012. "Equity capital markets underwriting fees totalled US$71.3 million during 2012‚ down 15% from the previous year (US$84.1 million)‚ while fees from debt capital markets declined 11% to total US$65.1 million for the year‚” Thomson Reuters said in its latest Sub Saharan Africa Investment Banking analysis.The news agency said JP Morgan topped the Sub Saharan fee rankings with a 10.5% cut of the fees followed by Citi and Bank of America Merrill Lynch‚ respectively.