To what extent do the new requirements for overseas recapitalisation impact foreign expansion strategies for Nigerian banks?
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Interviews & Viewpoints | Lamido Sanusi, Governor, Central Bank of Nigeria (CBN), on financing small business from The Report: Nigeria 2013
In 2012 Nigeria had about 17.6m micro, small and medium-sized enterprises (MSMEs) employing about 32.4 m people and contributing 46.54% of nominal GDP. A recent survey by the International Financial Corporation and McKinsey suggests that 80% of these MSMEs are excluded from financial markets. Suffice it to say that between 2003 and 2012...
With a total premium value of $1.6bn in 2011, Nigeria’s insurance market is the biggest in West Africa, but in a wider context the market remains relatively undeveloped and coverage in the retail market is mostly limited to motor insurance. Issues including prohibitive costs, inconsistent enforcement of mandatory coverage, fake insurers and policies damaging the sector’s reputation, and a...
Following a significant overhaul of the sector in 2012, Nigerian banks recorded their strongest performance since the onset of the banking crisis in 2009. The central bank has seized on recent bank restructuring to implement broader structural reforms aimed at safeguarding against future crises. Nigeria boasts a diverse financial sector. In contrast to most other sub-Saharan markets, foreign...
As the single most populous nation in Africa, Nigeria recently overtook South Africa as the largest economy on the continent. Natural resources, oil and gas in particular, comprise the country’s single largest revenue-earner but the 170m person economy also has seen significant activity in recent years into the industrial, financial, telecoms and – as of 2013 – power sectors.
Banks will be looking to end 2013 on a high note, after most of Kuwait’s lenders recorded encouraging results for the first three quarters of the year, with profits and lending activity on the rise, and prospects appearing sound for the final quarter and on into 2014.