Nigeria’s total capital importation was down 53.53 per cent in 2015 according to the National Bureau of Statistics. The current devaluation policy has led to a continued decline in capital inflows as foreign investors adopt a ‘wait and see’ approach towards investment in the country.
Speaking to CNBC Africa, Frank Kahumba who is an Equity Research Analyst at Momentum SP Reid Securities, advices investors on where to put their money.
“According to investors, what they want is a little bit more liquidity into the market. If you remember, between 2012 and 2014, Nigeria was listed in the J.P Morgan EM index and it was excluded in 2014 because there was government regulation which restricted foreign exchange transaction.”
- Frank Kahumba, Equity Research Analyst at Momentum SP Reid Securities.
“Nigeria offers considerable opportunities for foreign investors and what investors can do is to check which one will be the best option.”
- Frank Kahumba, Equity Research Analyst at Momentum SP Reid Securities.
“On the report they say that other types of investments, compared to your FDI [foreign direct investment] and your portfolio investment, had quite an increase. So people do have some other avenue in which they could go to. It’s just a matter of knowing exactly where to put the money.”
- Frank Kahumba, Equity Research Analyst at Momentum SP Reid Securities.
By: Aviwe Mtila.
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