While most African markets underperformed the MSCI World Index (total return) last year, if you had invested in Nigeria, you would have been a clear winner. In US dollars, the MSCI World returned +16 in 2020 compared to -9per cent for Kenya, -22per cent for Egypt and +2per cent for Morocco. Nigeria was the notable exception at +24per cent.
This is according to an analysis by Allan Gray as contained in a statement made available to THISDAY. Allan Gray is Africa’s largest privately owned investment focused on generating long-term wealth for investors.
“The strong performance of Nigerian equities in 2020 was driven by investors seeking alternatives to low fixed income yields and foreigners struggling to repatriate funds. But, the likelihood of a further naira devaluation remains high, so investors should remain cautious,” says Kamal Govan, portfolio manager at Allan Gray. “We expect resolution over the coming months as pressure mounts within the Nigerian economy.”
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HARARE – Investment analysts have blamed low participation of individuals, households and SMEs in investment markets to lack of investment knowledge in developing nations like Zimbabwe.
The Zimbabwe Investment 101 handbook indicates that lack of financial literacy in Zimbabwe has accounted for low savings and investment rates compared to world standards.
As a result, Zimbabwe has witnessed individuals and households channelling their hard-earned money to unsafe investment vehicles such as gambling and some ponzi scheme, the latest being the Beven Capital and KWD ponzi schemes that saw Zimbabweans losing US$2 million since 2018, according to the Zimbabwe Republic Police report presented in court in August last year.
ZSE delisting to go ahead — Seed Co theindependent.co.zw - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theindependent.co.zw Daily Mail and Mail on Sunday newspapers.