Nigerian equity market |

French Drugs Maker Targets Africa With Nigerian Acquisition

LAGOS (Capital Markets in Africa) – Biogaran SAS, a closely held French pharmaceuticals manufacturer, plans to tap into Nigeria’s $1.3 billion drugs market as a launchpad for its expansion into Africa, company President Pascal Briere said. The unit of France’s second-largest drug maker, Les Laboratoires Servier, last month acquired Nigeria’s Swipha Limited. after an initial $500,000 investment. Biogaran expects Nigeria’s pharmaceuticals industry to grow by more than 12 percent annually. “We found that Nigeria is well adapted for what we…

Foreign Portfolio Investors are net sellers on the NSE in May 2015

Posted on by The Editorial Team

Lagos, Nigeria (Capital Markets in Africa) — Foreign Portfolio Investor (FPI) transactions at the Nigerian bourse decreased to N79.77 billion (about US$ 0.41 billion) in May 2015, down 23.26% from April 2015, amid uncertainity in the fiscal policy direction of the new government, resulting from delays in the appointment of key Ministers. Also, the recent currency control policy by the Central Bank of Nigeria to defend the local currency to preserve the foreign reserves. The local…