Nigeria retains third most attractive investment destination in Africa - Punch Newspapers

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Nigeria has retained its spot as the third most attractive country in Africa for foreign investment in 2021 according to the Absa Africa Financial Markets Index 2021 report.

It read, “Nigeria’s SEC launched FinPort, a fintech and innovation portal to assist fintech businesses to understand the regulatory requirements for the Nigerian capital market. The SEC will also be rolling out a regulatory incubator for fintech seeking to conduct capital market activities.”

In the six pillars used in the survey, Nigeria scored 62 in market depth, 20 in access to foreign exchange, 86 in market transparency, tax and regulatory environment, 44 for capacity of local investors, 69 in macroeconomic opportunities, and 100 for enforceability of the standard master agreement. However, the AAFMI report noted that Nigeria has continued to perform poorly in access to foreign exchange while it has imposed administrative controls that expanded the number of goods subject to import restrictions, enforcing existing export repatriation rules and restricting the supply of FX to certain windows.

“While these measures restricted capital outflows and helped keep reserves stable, market liquidity remained below pre-pandemic levels. “Due to the control measures and global macroeconomic imbalances, foreign portfolio investors’ appetite remained subdued. The volatile FX market and the delays in the repatriation of foreign currency out of Nigeria caused further problems. Despite a rebound in oil prices and remittances, the FX shortage persists as imports recover faster than exports,” the report adds.

 

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Big big talk

Punch Newspapers zukwanuike

When you grade countries from bottom to top.

Ok but refresh the airport first…

From Gaint to ant 🐜 investment destination in Africa

Says who?🤭🤭🤭

Lori iro

Lies upon lies.. Keep deceiving yourself thinking the world does not know better 😂

Jesus... 😳😳

Loooo

Punch fear God.

เราได้สรุปข่าวนี้มาให้อ่านอย่างรวดเร็ว หากสนใจข่าว สามารถอ่านฉบับเต็มได้ที่นี่ อ่านเพิ่มเติม:

 /  🏆 8. in TH

ประเทศไทย ข่าวล่าสุด, ประเทศไทย หัวข้อข่าว