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Nigeria Closes Gap On South Africa’s Investment Lead by Nobody: 10:46pm On Sep 10, 2013 |
WHILE South Africa remains the most attractive corporate investment destination in Africa, Nigeria is nipping at its heels and may overtake it as soon as next year, according to a new survey. Nigeria has moved into second place, from third last year, overtaking Egypt which is now in third position despite its continuing political upheavals. This is according to the Rand Merchant Bank’s (RMB’s) annual " Where to Invest in Africa: A guide to corporate investment" report. The report places South Africa 33rd in the overall world rankings — its worst position ever. Nigeria, on the other hand, has improved 35 places in the past decade to rank 38th in the world index. The researcher and co-author of the guide. Celeste Fauconnier, said the gap between the two African giants was narrowing because Nigeria was "doing well" while S A was "stagnating". South Africa is placed second last in comparison with its fellow Brics (Brazil, Russia, India, China, South Africa) economies. China is ranked first, India eighth and Brazil 27th with Russia in last place at 34th. Nigeria could replace South Africa in top place in the next two to four years, or even sooner, if the revisions to gross domestic product (GDP) under way see the size of the former’s economy adjusted upwards as much as 40%. This would put the West African country close to South Africa’s GDP of $384bn. Nigeria’s GDP is now $268.7bn, according to the World Economic Forum (WEF). Nigeria’s growth rate forecast at 6%-7% a year for the next five years, compared with South Africa’s forecast of 2%-3%. Therefore, the West African powerhouse could overtake South Africa as the continent’s largest economy by as early as next year. Nigeria’s population of 162.5-million is more than triple that of South Africa’s 50.6-million, adding to its attraction. The RMB survey finds the top 10 African countries remain the same as last year, though Nigeria and Egypt switched places. Ranked from fourth place to 10th are Ghana, Morocco, Tunisia, Libya, Ethiopia, Tanzania and Kenya. The scores were finalised before the recent political disarray in Egypt and Libya, but Ms Fauconnier said RMB included them on the list as the research is meant to inform long-term investment decisions. Egypt’s sizeable market and population, and decent operating environment with a highly diversified economy should make it an attractive destination once tensions subside. "Once political tension is resolved, we often see portfolio flows back into the country and these economies recover quite quickly from a growth rate perspective," Ms Fauconnier said. Last week, South Africa fell one place from 52nd to 53rd out of 148 on the WEF global competitiveness list, as Mauritius overtook it to sub-Saharan Africa’s top spot. Nigeria is ranked 120th. Labour discord, dragged down the South African ranking. The WEF uses a different methodology than the RMB, assessing competitiveness based on the opinions of about 13,000 business leaders in 148 countries. It focuses on 12 pillars including institutions, infrastructure, macroeconomic environment, education and labour market efficiency. RMB assigns investment attractiveness scores based on GDP, growth forecasts over the next five years and the operating environment. The operating environment is assessed using the WEF global competitiveness index, the World Bank’s Doing Business report, the Heritage Foundation’s index of economic freedom and Transparency International’s corruption perceptions index. Ms Fauconnier said South Africa’s growth was weak, but it remained top of the rankings because it had the largest market in Africa and a sophisticated operating environment. www.bdlive.co.za/africa/africanbusiness/2013/09/10/nigeria-closes-gap-on-south-africas-investment-lead 1 Like |
Re: Nigeria Closes Gap On South Africa’s Investment Lead by Sunofgod(m): 10:57pm On Sep 10, 2013 |
So Naija 'don' overtake Egypt . . . . . hip hip . . hoooray, Al Queida must be pisse.d |
Re: Nigeria Closes Gap On South Africa’s Investment Lead by Nobody: 11:07pm On Sep 10, 2013 |
MEND, JAMB, Thugs, BOKOHARAM, OPC, ND Militants, Kidnappers, Epileptic oops..!! Disco light PHCN supply etc...!!! I believe in miracle. |
Re: Nigeria Closes Gap On South Africa’s Investment Lead by Nobody: 11:17pm On Sep 10, 2013 |
Nigeria dey close gap still job no dey |
Re: Nigeria Closes Gap On South Africa’s Investment Lead by Nobody: 11:30pm On Sep 10, 2013 |
[size=30pt]South Africa’s GDP of $384bn. Nigeria’s GDP is now $268.7bn[/size] so you think within 2-4years Nigeria will increase with 40% to be inline with SA, you must be dreaming, that is almost doubling the economic growth of Nigeria.....What country can achieve that without the necessary infrastructure, and even as well considering the stage Nigeria is at right now, between Nigeria and SA who is declining in Economic growth, is it Nigeria that her Naira Value is now equals 160 to the dollar..? Pls don't deceive yourself biko. although this might happen, but not in the next 15years, when even SA are the biggest Investors in Nigeria at the moment StanBIC IBTC Bank Shoprite Tiger Brands PEP MTN DSTV Checkers And others too Numerous to mention 1 Like |
Re: Nigeria Closes Gap On South Africa’s Investment Lead by Nobody: 2:16pm On Sep 11, 2013 |
Nigeria is growing with little development taking happening, while SA is still developing ahead of Nigeria despite a smaller growth rate. |
Re: Nigeria Closes Gap On South Africa’s Investment Lead by Nobody: 2:30pm On Sep 11, 2013 |
growing Fat with no brains.. |
Re: Nigeria Closes Gap On South Africa’s Investment Lead by cocoduck: 2:52pm On Sep 11, 2013 |
maxwello.yg:Look at you. Nigeria needs entrepreneurs not job seekers |
Re: Nigeria Closes Gap On South Africa’s Investment Lead by Tolexander: 3:10pm On Sep 11, 2013 |
Can this be true. |
Re: Nigeria Closes Gap On South Africa’s Investment Lead by DebohBaron(m): 3:23pm On Sep 11, 2013 |
eddiebruk: [size=30pt]South Africa’s GDP of $384bn. Nigeria’s GDP is now $268.7bn[/size]I don't usually comment buh am sorry you're one of the daftest pple have seen in a long time!!! How dare you say ' SA are the biggest Investors in Nigeria at the moment' 7 Likes |
Re: Nigeria Closes Gap On South Africa’s Investment Lead by baynix(m): 3:24pm On Sep 11, 2013 |
Always looking for crap to make us believe that Retardeen is performing! Fresh Air Tinz!! Jonathan Till 2015! |
Re: Nigeria Closes Gap On South Africa’s Investment Lead by jaiykem: 4:11pm On Sep 11, 2013 |
The transformation vehicle is moving non_stop. Goal!!! Gej has scored. What a goal 1 Like |
Re: Nigeria Closes Gap On South Africa’s Investment Lead by homesteady(m): 4:22pm On Sep 11, 2013 |
Fresh air!! |
Re: Nigeria Closes Gap On South Africa’s Investment Lead by Nobody: 4:31pm On Sep 11, 2013 |
DebohBaron: Why not defend who else are the biggest instead of this rubbish you just spilled out of your numskull..? without backups...? and i dont actually like to disrespecting people but you seems to me like an Id.iiot |
Re: Nigeria Closes Gap On South Africa’s Investment Lead by hunter21(m): 4:55pm On Sep 11, 2013 |
Nigeria has already overtaken southafrica. 1 Like |
Re: Nigeria Closes Gap On South Africa’s Investment Lead by Confusionist(m): 4:58pm On Sep 11, 2013 |
eddiebruk: [size=30pt]South Africa’s GDP of $384bn. Nigeria’s GDP is now $268.7bn[/size]and to u Sir, those are the biggest investors? So, if all those ones leave, aside DSTV, we won't survive? Besides, in S.A, do u want to tell me dt all investments there are by south africans! |
Re: Nigeria Closes Gap On South Africa’s Investment Lead by Nobody: 5:08pm On Sep 11, 2013 |
Big investors are different from shop-owners bro so dont even try to say there are Big Nigerian Investors in SA, and can you please mention some other Investment made by other countries in in Nigeria,...dont just comment, for commenting sake, back your comments with credible examples, you sure dont know how Absa (SA Bank) has as well planned on investing 1.7Billion Rands in Nigeria beginning from next year. |
Re: Nigeria Closes Gap On South Africa’s Investment Lead by Nobody: 5:11pm On Sep 11, 2013 |
Confusionist: and to u Sir, those are the biggest investors? That wasnt what i meant, but comparing or trying to make it look like within 2-4years Nigeria will be topping them is false prediction, because as Nigeria is planning to grow, they also are trying to grow....yes it might happen but not in the next 10years |
Re: Nigeria Closes Gap On South Africa’s Investment Lead by Nobody: 7:03pm On Sep 11, 2013 |
DebohBaron: why not present your facts to counter his. instead of calling him daft? 1 Like |
Re: Nigeria Closes Gap On South Africa’s Investment Lead by Nobody: 7:50pm On Sep 11, 2013 |
Crassus: That is how clueless people act, they dont know anything yet find everything wrong when they are being lectured |
Re: Nigeria Closes Gap On South Africa’s Investment Lead by PapaBrowne(m): 8:37pm On Sep 11, 2013 |
coming.... would comment. |
Re: Nigeria Closes Gap On South Africa’s Investment Lead by PHIPEX(m): 10:02pm On Sep 11, 2013 |
eddiebruk: [size=30pt]South Africa’s GDP of $384bn. Nigeria’s GDP is now $268.7bn[/size] There is what is called the rebasing of the GDP, Nigeria is expected to rebase her GDP by the end of the year and if that happens the GDP could jump to about 40% of it's current figure. Afterwards, the difference between South Africa and Nigeria GDP will shrink . Ghana did a rebase of its GDP few years ago and that is why they are mentioned in the ranking. |
Re: Nigeria Closes Gap On South Africa’s Investment Lead by Nobody: 10:03pm On Sep 11, 2013 |
PHIPEX: Well until that happens, we have had too many promises that are yet to be fulfilled already to believe in our leaders...an untrusted government is a failed Nation |
Re: Nigeria Closes Gap On South Africa’s Investment Lead by Horus(m): 10:35pm On Sep 11, 2013 |
https://www.youtube.com/watch?v=0jPTYltq8qI [size=15pt]Why Nigeria's GDP Growth Doesn't Translate To Improved Living[/size] |
Re: Nigeria Closes Gap On South Africa’s Investment Lead by manny4life(m): 12:08am On Sep 12, 2013 |
eddiebruk: @PHIPEX is correct, the rebased results are expected by October/November, at least this is one thing that Yemi Kale got right. When they rebase Nigerian GDP, they will adjust for current prices as well as other categories will be introduced in the aggregates. When that happens, Nigeria's GDP is expected to increase past 40% of where she stands now. |
Re: Nigeria Closes Gap On South Africa’s Investment Lead by taharqa: 12:13am On Sep 12, 2013 |
eddiebruk: [size=30pt]South Africa’s GDP of $384bn. Nigeria’s GDP is now $268.7bn[/size]SHUT ya mouth tha you Sillly fellow. And take yr Personal Frustrations elsewhere.. Do you know the meaning of REBASING a country's GDP? Have you even ever heard of that word? OLODO.. 2 Likes |
Re: Nigeria Closes Gap On South Africa’s Investment Lead by taharqa: 12:16am On Sep 12, 2013 |
eddiebruk:I say SHUT up, again. |
Re: Nigeria Closes Gap On South Africa’s Investment Lead by Nobody: 12:23am On Sep 12, 2013 |
taharqa: SHUT ya mouth tha you Sillly fellow. And take yr Personal Frustrations elsewhere.. Do you know the meaning of REBASING a country GDP? Have you even ever heard of that word? OLODO.. Oga i pity the money your parent wasted in sending you to school for ever believing the Nigeria government over a promise that is yet to be fulfilled, keep on deceiving yourself GOAT 1 Like |
Re: Nigeria Closes Gap On South Africa’s Investment Lead by Nobody: 12:24am On Sep 12, 2013 |
taharqa: SHUT ya mouth tha you Sillly fellow. And take yr Personal Frustrations elsewhere.. Do you know the meaning of REBASING a country GDP? Have you even ever heard of that word? OLODO.. Oct/Nov is not Far again, let us keep our fingers crossed and see how it goes. |
Re: Nigeria Closes Gap On South Africa’s Investment Lead by taharqa: 12:26am On Sep 12, 2013 |
Key Point: Nigeria has improved BY 35 PLACES on d Scale of Ease of Cooperate Investment in d last 10 years whilst some powerful countries were even decreasing on the scale. Nigeria already leds Africa since 2011 (for the 1st time) in its attraction of FDI (Foreign Direct Investment), beating countries like SA and Egypt and by a large margin too. On d home front only last week, Dangote alone started d process of investing about $9billion in Nigeria, an amount even higher than d total FDI inflow last year....and d Nigerian Economy is not doing well sm 'people' say |
Re: Nigeria Closes Gap On South Africa’s Investment Lead by manny4life(m): 12:26am On Sep 12, 2013 |
eddiebruk: [size=30pt]South Africa’s GDP of $384bn. Nigeria’s GDP is now $268.7bn[/size] The necessary infrastructure that spurs growth - Human and Capital resources are in abundance. With regard to the infrastructures, I will break it down Transportation Infrastructures - the road and highway networks across the country is drastically improving, the testament of improved comes from different sources even those acknowledge by critics and foreigners alike. Looking close at the GDP, construction has skyrocketed, roads are being rehabilitated, mass transit systems are being deployed, the railways are being rehabilitated and new rolling stocks are expected to be delivered to the system. The airports are seeing a fresh look, Enugu just recently opened while the 8 cargo centers are coming online soon. The seaports are not to be left out, while works is required, we can best say that with the proposed inter-modal networks and dredging of certain routes, success isn't too far our. On transportation, GEJ scores an B+/A- Energy infrastructure - I know lots of people are skeptical about the power system in Nigeria, but fear not, changes are undergoing. TCN is coming on-board, PHCN is dissolved already, new DISCOS are coming online, new power-plants are inaugurated including Dr. BARTH NNAJI's plant in Aba (Geometric Plant). Another two years will see a big boom in Nigeria's power supply, and Nigeria can get to where we need be. Furthermore, Nigeria is taking a closer look at the petroleum bill, hopefully they pass it, our energy diversity is gradually coming up - from coal, to natural gas to nuclear (lol), but we're getting there. A recent news showed that the our refineries are getting updated and with Dangote's new quest for refinery license, this will open a new frontier for foreign investment. I can continue to go on an on, but as you can see, Nigeria is improving. I was reading a foreign report one time, I think it was the economist or so, the report stated that this country that used to live on $1/day now has its middle class income earners rising. What does that tell you? It means that our small/medium enterprises are rising. When it comes to the value of currency, it doesn't really matter as long as the citizens have the spending power. China and Japan are doing the same thing - China purposely devalues her currency to give better buying advantage to its citizens. 4 Likes |
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