One of the exchange’s more pressing needs is developing a new supply of listings from both primary and secondary issuers to add depth to a market that poorly represents the structure of the Nigerian economy. Market movers remain the banking, fast-moving consumer goods and building materials sectors, while dynamic sectors like telecoms, power, and...
While the market’s rally in 2012 was spurred by a tripling of foreign portfolio inflows to $17bn, domestic investors – dominated by institutionals – have increasingly returned to equity markets as well. Scarred by the 2008 downturn, high-net-worth individuals have turned to the money market; exposure to rapidly rising equities has grown...
The capital markets have seen a significant jump in liquidity over the past 24 months, driven in part by an increase in foreign portfolio inflows. However, domestic investors have played a growing role as the markets continue to rebound from the 2008 sell-off crisis (see analysis). This is in part a reflection of a return by retail investors, but it...
THE COMPANY: Fidson Healthcare is a wholly indigenous pharmaceuticals company and a member of the Fidson Group. It is one of the leading pharmaceuticals firms in Nigeria and the West African sub-region. The company, which was formed in 1995, manufactures, markets and exports high-quality pharmaceuticals...
THE COMPANY: Dangote Cement is a fully integrated cement company with projects and operations in Nigeria, Benin and Ghana. Cement was the initial focus of the Dangote Group’s trading operations in 1981. Since that time, the larger conglomerate has made strides to transition from a trader of cement to a...
The latest international bond sale from Nigeria, which was heavily oversubscribed, underscored the bullishness of overseas investors regarding the country’s sustained if uneven growth. However, the yield level on the offering also highlights the looming challenges that Nigeria, along with other emerging markets, could face when seeking to raise...
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