Investing in Nigeria
The Ultimate Nigerian Investing Blog
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Over the years I have read a lot of books on investing and business. For me I can say the best readings are the letters sent by Warren Buffet to the shareholders of Berkshire Hathaway. In these letters, Warren Buffet touches on the business of investing and many more. The nudgets of investing wisdoms one can extract from these leters are unrivaled. These are must read for any serious value investors.
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Lagos Business School End of Year Dinner
Presented by B.J Rewane
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I was reading the October 24, 2010 edition of the Bloomberg Businessweek magazine and could not but be excited about the featured article titled “From China, The Future of Fish – Meet the Chinese tilapia, a bland food product that grows fast and sells cheap. Environmentalists hate it, but Americans keep ordering more”. Tilapia fish, which has its origin in Africa is now a huge source of business in China where it has been introduced “a foreign fish; the name in Chinese, luofeiyu, refers to tilapia’s origins in Africa”, Bloomberg Businessweek wrote. Oh! How much I enjoy eating this fish, steamed fresh and garnished with a little salt, onions and eye watering fresh chilly peper. or with a touch of atariko and beletete!
“In 2009 the U.S. imported 404 million pounds of tilapia, up from 298 million in 2005. Wal-Mart Stores imports nearly 200 shipping containers, or 8.8 million pounds, every month, although they will not say how much comes from China. (The company declined to comment.) Domestic fish farmers can’t come close to meeting demand. Although there are tilapia farms in the U.S., the fish does better in tropical climates, so most of it comes from Asia or Latin America….. -
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As a continuation of our series on international investors putting their money where their mouth is, we feature Templeton’s investment in Nigeria.
Franklin Templeton Investments, a company founded by the legendary Sir John Templeton in 1947 has as one of it’s product the Emergent Market Fund.
In an interview with Reuter’s, Templeton’s veteran money manager talked about his strong bet on Nigerian market aside from opportunities in the BRIC countries – Brazil, Russia, India and China.”I know it’s way out in terms of people’s minds. The risks are there of course. But it’s a big country, it’s one of the biggest in Africa, and it’s a fast-growing country, so I think there’s a great opportunity there,” he said.The money manager, who has made his name by picking stocks in the emerging markets, said the biggest risk was that too much money would be invested in the market, chasing too few stocks.
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Despite all the bad news splashed on our face on a daily basis by the western media, Africa still has some of the best risk adjusted returns depending on the country under consideration. Africa has some of the youngest and fastest growing workforce in the world; with a baseline economic growth rate about three times that of US and Europe. By some estimates, some sub Saharan African economies hold the potential for between 30 to 40% return on capital. These sorts of returns are far beyond the dreams of western economies.
In the Bullish on Africa series, we will start building up a list of international investors who are realizing and talking about the huge investment potentials in Nigeria and the rest of Sub-Saharan African countries. Many of these international investors are putting their money where their mouth is.