With approximately 160 days to the Nigerian general elections, policy, political and macroeconomic risks are elevated.
GDP has slowed to 1.5%, External Reserves have slipped to $45bn and the stock market is close to a correction after losing 10.81% in 2018. The cheery news is that inflation is declining and the Naira is stable.
Conventional wisdom says that policymakers do not stir the hornet’s nest in the run-up to an election, especially if your economy is vulnerable to exogenous shocks. That is why the curious penalty of MTN, the dominant Telco operator and the international Banks in Nigeria at this time is raising eyebrows in the international financial community.
Many are hopeful that there will be an amicable resolution of the impasse which has seen the market capitalisation of the MTN group on the JSE shredded. It also almost forecloses any chance of the listing of MTN on the Nigerian Stock Exchange in the foreseeable future.
The impact of these developments and the likely political outcomes on your business, portfolio and strategy are discussed by Bismarck Rewane and the FDC Think Tank at this month’s LBS Breakfast Session with the theme “The Players change but the game remains”.
- Domestic Overview
- Global Picture
- August Highlights
- Stock Market Review
- Policy and Politics
- Outlook for September
Enjoy your read!