Friday, September 17, 2021

    Investors Eye New Hot-spots in Nigeria, see Covid-19 Pandemic Easing by September

    Must read

    Ejiro Lucky
    Obodo Ejiroghene Lucky [Chief Economist] Mr. Ejiroghene Obodo is an economist with over 15 years in Journalism, which cuts across Research and Data analysis. Mr Obodo, a graduate of Columbia University, New York City, with a Degree Journalism Graduate School Field Of Study Citi Journalism Seminar Ejiro was the Online Editor at BusinessDay Media, where he oversees the online editorial department. Proir to this Mr. Ejiroghene Obodo, also known as Lucky, served as a Senior Research Analyst at BusinessDay Research and Intelligence Unit. Prior to this, he was an Analyst at the firm. Ejiro has won series of International awards which includes the most coveted awards Citi Journalistic Award for 2013 See his professional profile listed on Bloomberg

    EFG-Hermes Holding SAE expects the Covid-19 pandemic to start easing in Africa’s largest economy by September and boost investments in food and consumer facing industries.

    Agriculture, digital payments, health, consumer goods and well-capitalized banks will attract new investors and customers, Kato Mukuru, head of frontier research at the Cairo-based company said in a virtual conference on Thursday. “The good thing about Covid-19 is that it has forced new sectors to come through.”

    A lockdown by authorities in Africa’s most populous country to contain the spread of coronavirus pandemic moved the nation of 200 million people away from cash to digital payments. Also, a crash in the price of crude oil, the nation’s major revenue earner intensified effort by the government to diversify income sources by supporting investments in agriculture and processing industries.

    The brokerage firm sees local and foreign investors going into food cultivation, processing, storage and distribution to take advantage of the expansion in the industry, Mukuru said. The country’s biggest banks will also attract new investments and customers as most lenders are deficient in capital.

    “There are clients that are looking at very good opportunities and we are discussing with them,” Mukuru said. “I know a local investor who is looking to do hospitals post Covid-19. We have started that dialogue.”

    The pandemic will peak in Nigeria in August, Mukuru said. Nigeria has more than 20,000 reported cases of the virus, with 542 fatalities, according to official data.

    - Advertisement -spot_img

    More articles

    - Advertisement -spot_img

    Latest article

    WP to LinkedIn Auto Publish Powered By :