West Africa | - Part 27

Will Nigerian Equity Markets Rebound in 2017?

LAGOS (Capital Markets in Africa) – The equity market could be headed for another tough year with economic concerns surrounding FX and weak corporate earnings continue to downplay the attractive valuations of blue chip stocks. We reiterate the strong correlation of the Nigerian equity market to oil prices and with the price of Brent crude oil hovering around $55/bbl coming into 2017, we think losses will be less steep this year with the potential for…

Nigerian Equity Markets: Key Drivers Still Under Siege

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Analysis of market performance in 2016 indicated that although a combination of poor corporate releases as well as weak macroeconomic fundamentals contributed to the negative return for the year, market volatility remained largely consistent with instability in the currency market. More specifically, while bearish sentiments persisted for most of 2016, equities rallied between May and July 2016 due to reforms in the Oil & Gas sector and adoption of…

Nigeria’s Economic Recession Creates Opportunities in Real Estate

Posted on by The Editorial Team

EXCLUSIVE INTERVIEW with Obinna Onunkwo, Managing Partner of Purple Capital Partners Limited, is a seasoned securities specialist with over 15 years of experience in investment management. He talks to Capital Markets in Africa about challenges and opportunities in Nigerian real estate markets. The perfect storm is brewed with the combination of an acute shortage of dollar inflows, the spectre of currency devaluation, increasing inflation and rising interest rates. How are developers and investors facing these challenges as well…

Francophone Africa: Reality and Opportunities in Real Estate

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ABIDJAN (Capital Markets in Africa) – Africa and its potential have been on every investor’s lips for some time now. This interest is especially relevant when strong trends are emerging across cities of Africa, whether French, English or Portuguese-speaking, including an emerging middle class and rapid urbanization. Early 2000, commodities-driven economies with impressive growth rates such as Nigeria and Angola were the first targets of international investors. However, with the recent fall in commodities price,…

Analysing the Impact of Nigeria’s Foreign Exchange Regulations

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LAGOS (Capital Markets in Africa) – There have been a few of the adjectives that have been used to describe the recent foreign exchange (‘FX’) policies emanating from the Central Bank of Nigeria (CBN’) over the past 2 years and while opinion remains sharply divided it is clear that debate on these policies have assumed a life of their own. Unquestionably, the main statutory objectives of CBN’s exchange rate policy are to preserve the value…

Nigerian Breweries Plc – Staying resilient through tough economic times

Posted on by The Editorial Team

Robust value presence will still be a key driver of topline growth in 2017: The strategy to increase its product offerings in the affordable segments (mainstream and discount) through its merger with Consolidated Breweries in December 2014 proved to be a step in the right direction. Given the weak macroeconomic climate of 2016, many consumers increasingly down-traded to affordable beer brands as a result of lower purchasing power. On the back of its improved offering in…

Nigeria stocks at 1-month high, reserves exceed $30 bln after Buhari return from UK medical leave

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Nigerian equities hit a one-month high shortly after the stock market opened for trade on Friday following President Muhammadu Buhari’s return home from an extended medical leave in Britain. Stocks rose 1.29 percent at 0936 GMT to levels last seen in February, according to Thomson Reuters data. Stocks, which are down 6.3 percent on the year to date, had climbed to a one-week high in its previous session on Thursday….

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