Commodities have played a key role in Africa’s growth narrative for centuries, most notably at the Berlin Conference of 1884, when Europe’s imperial powers sought to divide up a continent based in part upon its abundance of natural resources. In the intervening years, African countries have churned out everything from platinum in South Africa to...
Among many industry players, private equity (PE) has rapidly developed as an alternate source of funding for Nigeria’s corporations. Initially dominated by development finance institutions (DFIs), the sector is attracting a growing number of private funds both foreign and, increasingly, domestic, thanks to the rapid growth of pension assets. While...
THE COMPANY: Cadbury Nigeria manufactures and markets sugar confectionery, food drinks and food products. The company also processes cocoa and exports cocoa products via its subsidiary Stanmark Cocoa Processing. Cadbury Nigeria holds a 90% stake in Stanmark and obtains 100% of its cocoa requirement from...
The resumption of traffic on initial lines in the southwest of Nigeria from 2011 was a sign of the efforts by an administration intent on liberalising the rail sector. After decades of false starts, the country is finally making progress on upgrading its narrow-gauge rail network and laying new standard-gauge lines.
In 2011 Nigerian ports imported 660,000 containers, for a 10% increase year-on-year (y-o-y), and the country’s port capacity is set for a boost with the opening of a new $1.7bn facility. The port, in Lekki, in the Lagos Free Trade Zone (LFTZ), is expected to have an annual capacity of 2.5m twenty-foot equivalent units (TEUs) on completion of the...
A long slump in equities has spurred authorities and market participants to try to deepen and diversify types of market instruments in a more concerted fashion. A first milestone was reached in December 2011, when West Africa’s first exchange-traded fund (ETF) was listed on the Nigerian Stock Exchange (NSE). Succeeding in the exchange’s “five...
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