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Market analysis: Nigeria
04 August 2008
An unexpected development
Read more:
Nigeria
Africa
emerging market
Africa is no longer a continent off the radar for foreign investors. South Africa has traditionally been the go to market. But what about the rest of Africa? Excluding South Africa, one of fastest growing markets on the continent is Nigeria.
Nigeria is oil rich and has a population of over 140 million people. When economic dislocation griped the country over a decade ago, the government began making significant efforts to liberalise the country from its economic woes. Today, the local market is developing fast, the fixed income market is growing and the possibilities for a workable securities lending model may even be on the horizon.
Often the issue with all these frontier markets is that they have been plagued with high above average inflation, high government debt and unstable political environments, but a number of developments in Nigeria in recent years have led to change which has not only...
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