Devaluation

LAGOS, Nigeria, Capital Markets in Africa: Some African countries that are considered great investment opportunities have recently seen currency devaluations. Whilst this could be seen as a challenge for their economies, it could also create an opportunity for African manufacturers. Import substitution has been a significant part of Africa’s economic growth during the preceding decade, as seen, for example, by Nigerian based Dangote Group, currently manufacturing cement, sugar and flour. All of these items were…