What IR can advocate is already pretty much standard. First, it
must preach what is all too obvious to economists and staunch investors, that
economies follow a boom bust cycle. Nigeria’s economy is currently in bust and
so boom is inevitable.
IR should encourage investors to take a long view of the economy. This means that investors should keep their money long enough in this economy and that’s how they can make healthy returns on their investments.
References can be made to the companies and success stories coming out of this economy. The phenomenal growth of the telecommunication sector for instance. MTN paid no heed to all the negative talk about the impediments of doing business here. Now they are the number one telecoms company in the country, the highest contributor to profits of the company of South African origin.
Since MTN, Econet (now Airtel,) Globacom, Etisalat and Visa Phone have dived deep into this market and are stashing handfuls of dollars.
The banking sector since liberalisation and consolidation has produced some of the most dynamic banks with subsidiaries across Sub Sahara Africa and South Africa. Some even have branches in London, France and New York. First Bank and GT Bank are in that class.
Emphasis should be made of the fact that billionaires have come out of this economy from diverse industries including telecoms; oil and gas; Banking; construction; shipping and agriculture. Africa’s richest man, Aliko Dangote is one of them with an estimated net worth of $21.6 billion as of November 2014.
IR can cast light on regulatory reforms targeted at safeguarding investments in the last couple of years. While doing this point to the country’s marked improvement in the World Bank’s Doing Business Index, which though worsened from 133 in 2011 to 170 in the 2014, is set for a leapfrog with the launch of the Corporate Affairs Commission (CAC) new on-line business registration portal. The portal would ease business registration by enabling customers to file their documents on-line without having to physically visit the commission. With the new application, customers could access and pay for the commission’s services on-line. Even international investors will be able to register their businesses from their homes, whether in US, Uk and anywhere.
Point and noise should be made by IR of the country’s recent ratings by Fitch, Standard and Poors and Moody’s who maintained their previous ratings. These should be should be ready tools to cast the economy in a good light and communicate the potential for significant ROI.
If indeed the objective to invest is to achieve high ROI then there can never be a better time to enter the market than now, IR should declare.
IR should encourage investors to take a long view of the economy. This means that investors should keep their money long enough in this economy and that’s how they can make healthy returns on their investments.
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| Olusegun Aganga, Trade Minister |
References can be made to the companies and success stories coming out of this economy. The phenomenal growth of the telecommunication sector for instance. MTN paid no heed to all the negative talk about the impediments of doing business here. Now they are the number one telecoms company in the country, the highest contributor to profits of the company of South African origin.
Since MTN, Econet (now Airtel,) Globacom, Etisalat and Visa Phone have dived deep into this market and are stashing handfuls of dollars.
The banking sector since liberalisation and consolidation has produced some of the most dynamic banks with subsidiaries across Sub Sahara Africa and South Africa. Some even have branches in London, France and New York. First Bank and GT Bank are in that class.
Emphasis should be made of the fact that billionaires have come out of this economy from diverse industries including telecoms; oil and gas; Banking; construction; shipping and agriculture. Africa’s richest man, Aliko Dangote is one of them with an estimated net worth of $21.6 billion as of November 2014.
IR can cast light on regulatory reforms targeted at safeguarding investments in the last couple of years. While doing this point to the country’s marked improvement in the World Bank’s Doing Business Index, which though worsened from 133 in 2011 to 170 in the 2014, is set for a leapfrog with the launch of the Corporate Affairs Commission (CAC) new on-line business registration portal. The portal would ease business registration by enabling customers to file their documents on-line without having to physically visit the commission. With the new application, customers could access and pay for the commission’s services on-line. Even international investors will be able to register their businesses from their homes, whether in US, Uk and anywhere.
Point and noise should be made by IR of the country’s recent ratings by Fitch, Standard and Poors and Moody’s who maintained their previous ratings. These should be should be ready tools to cast the economy in a good light and communicate the potential for significant ROI.
If indeed the objective to invest is to achieve high ROI then there can never be a better time to enter the market than now, IR should declare.
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