tosh_acer:


The summation about being denied visa is weak, baseless and childish. Where do you live?

You want to know were I live? Ok. I live in New York city, NY, USA And you?. Talking about Americans, Indians and south Africa making more in Nigeria and sending home than us in abroad, how much do give you starving family? I may be living in America but you know what, I have my business, houses and cars in Nigeria as well in USA. How about u? can you go out off Nigeria and buy properties? For those of us that live in over seas, we have advantage having more things that u that base in Nigeria. Let say there is war in Nigeria today, can u go to another and be sure you have your properties in place? the answer is no. But if there is war in America today, I am sure of my properties in Nigeria. My family back home do ask us over here for anything because my families has more than a enough generating from family own business. The only family I care for back home is just my wife which will join me in two months time. How much have you contribute into Nigeria economy big mouth who cannot feed his own F ugly families?

tosh_acer:

what the fu ck? where was i when this useless thread was opened?

You send money to feed your hungry families and then you think you deserve national award for that? Whats going on here? Who is praising who? Drug money and credit card fraud money wire back to Nigeria and y'all think you deserve national award for that? when will this self deception stop? Lets start another topic to say, all diasporians deserve awards because they send money home to feed their hungry families - what the F? dont send it, and wait what becomes of your family, and beside, most of them borrowed money to travel hence they have to pay it back. what the F?

Do these goons know how much an average American business man in Nigeria takes out of Nigeria to America yearly? Do you know how much the Chinese, Indians, South Africans make from Nigeria and send back to their home country daily? We talking billions daily, in the same dead economy, in the ame failed system, in the same rotten egemony that you ran away from, do you know how much? You stay there praising yourselves for sending money to feed your family! What arrant nonsence!

U must be an asshole. You probally denied visa hundred times and u could not make it to abroad to send money to feed your hungry lion and F ugly families.

This is just Western union and moneygram only. It does not include money we give friends or family members to give to people by hand when they are going home.

Guys, remember that the year is not over yet. During the christmas and new year we will flow more money to our relatives and friends over there.

Is time they abandon that useless program.

Cyberfreak:

It goes both ways jor. Traditionally, men are supposed to be the sole bread winners of their families and women are the homekeepers and mothers. Its just that nowadays, like someone said, times are hard and the women just have to contribute financially in the upkeep of their families in order to ease the financial burdens. And while the woman does this, it becomes COMPULSORY on the man to assist her with whatever was regarded as her traditional role, just as the woman assists with the breadwinning. If she contributes in the family's financial upkeep, the man, whether he likes it or not, must also assist her in the homefront with whatever duties the woman is traditionally supposed to carry out, except child bearing of course.
It's only fair.

Well said.

I do not know how to say it but the thing is that I usually had a dream that Nigeria qualify for WC10.

@Poster

Don't you see the killing and kidnapping of people in cities and towns is enough or do you enjoy bein kill and kidnap

walakolobo
Posts: 263

Offline

  Re: All Diasporians Know Nothing About Nigeria, They Make Me Laugh When They Argue.
« #31 on: Today at 06:08:39 PM » 

--------------------------------------------------------------------------------
Bitter, Bitter, Bitter, Bitter about what? this is part of what we are talking about, bitter because you eat burger and i cant, bitter that you shop in Tescos and i cant, bittert hat you ride in the underground and i dont, bitter that you work in the cold and i dont, bitter about what? Please tell me, before you change the word bitter to the word jealous or envious as someone has just said.

I think it is the other way round - there is every tendency for Nigerians in the diaspora to be jealous, bitter and envious about the folks back home, the home they called failed, the home they called hell, they are bitter because most of their mates they left are now in a better position than them, why should anyone in Nigeria be envious and bitter or jealous about people abroad? We havent been there, lived there, got bored and left or what is it? Envious that you work in the cold, that you have to make rounds between train stations, or what are we envious about?




That part I bonded is very funny everytime I come across that statement. Funny you measure because if this people or mates back home are better, why do they call all the time and making all kinds of excuses to get money? Why do they come to our home and asking what we get them everytime we come to Nigeria? Why do they make a wish in from of us I can't wait to get-out of Nigeria? Why do they come and cook or clean for us when we do not ask for help. You better rephrase your statement because our mates that cannot stay away from their phone asking this or that.

Just like my father said the last time we visited Nigeria. He said that Benin-Lagos will never be repair because the road is two long. Let say for example, if one start from Lagos, by the time you repair it to Benin in two years time, the place where you started will starts going bad again. The road where not maintain in first place. The earlier they start with road the better. Patching and patching is a waste of time.

~Bluetooth:

what happened to the billions of dollars that were previously budgeted for repair of this road during obasanjo regime,,?,,mr fix it "Anenih" was the minister for works,so why is efcc not prosecuting Anenih for this,afterall,bode george is in prison for corruption,,

becomrich,:

who care for repair of the same road. yar adua should award an expressway from okitipupa to akure to ado ekiti to kabba to lokoja. and another one from Ilorin to lokoja. Not the same filling of pot hole.

Please my brodas, do not mind this half brain and useless leaders. They know election is around the corner and the only thing they can do is trying to tell people that they are working on it. They need to stop patching and patching the roads over and over. They need to do it like USA. Remove everything and resurface it or construct a new road. obasanjo did the same thing when he wanted to rerun for president.

OAM4J:

Well done guys.
How come somebody said Nigerians abroad are stingy?- https://www.nairaland.com/Nigeria/topic-62827.0.html

Do not mind them especially those who managed to get a job in Nigeria and they think they live well when they still depend on us. Up Up for us that helping out people back home.  $10b= 1,522,500,000,000. Convented it at yahoo.com. This money we send to empower Nigeria economy. Take that one trillion plus from Nigeria economy, the country will be poorer than Niger more suffering.

Kill all the old generation corrupt leaders first!!!

ajayi1:

There is no time, NEVER GIVE UP UNTIL YOU GET WHAT YOU WANT!

What happen after chasing and chasing, and you never get what you want? Or what do you do since you said never give up until you get what you want.

Do want me to do your home work for you or what. Please summarize it.

Work in progress if you know what I meant.

*jona:

ovie is isoko abi urhobo.up Delta state.

Yes I'm Urhobo. Yes Up Delta State.

mekuslogan:

Posted by Ovie, the Bini male prostitute in Italy

Gunmen Kidnap Senator’s Wife in Benin
From Adibe Emenyonu in Benin, 11.04.2009


Unknown gunmen yesterday abducted the wife of Senator Francis Okpozo, Anna, in Benin, Edo state capital. Mrs. Okpozo, a pastor with Christ Embassy Church at the Erediauwa branch, off Ekehuan Road was reportedly kidnapped at about 9 a.m Monday from her house, No. 10, Abu Street, shortly after a prayer session with her family members. Her husband, Sen. Francis Okpozo, an outspoken politician was said to have traveled at the time of the incident. Her two sons with whom she prayed had reportedly just left the house when the kidnappers struck.
According to eye witness, the kidnappers, four in number, had pulled up and parked their white Audi car to block the gate of the compound. While two of the kidnappers were said to have gained access to the compound, the other two remained inside the car.
It was learnt that before her abductors took her away, they searched everywhere in the house and took along with them some valuables and thereafter phoned Sen. Okpozo, demanding a N5 million ransom before they could release her.
The kidnap of Mrs. Okpozo is the second incident to happen to the well respected politician in less than a month. On October 13 this year, unknown gunmen had broken into his country home at Ozoro in Isoko North local government area of Delta state at night and shot one of his nephews severally on his legs.
The Senator was also not at home during the incident. Several of Senator Okpozo’s associates who visited him yesterday condemned the kidnap of his wife, saying the latest incident is “one too many’ and called on the kidnappers to release his wife immediately to enable her re-unite with her family.
At press time yesterday, several callers besieged the Senator’s house, even as the incident is said to have been reported to the police.

What a loser. If you and you parents base in Italy doing prostitute just say so. As for me, have a decent job base in New York City.

mrperfect:

I think this is welcome development, because this state need this than any other state because of huge business activities in that state.

What kind of business. The kidnapping or the state that lead in arm robbers. Ohhhh, I think is both.

I cannot wait to see the airport. Maybe it will look like Akure Ibom airport, like house. Building an airport in any place in Nigeria is OK as long as the airport look standard not those small airports without terminals. Is just that our leaders are not learning that is the problem. Standard airports with terminals plus two to three runways and with lights everywhere. But what happen to existing and dieing airports in Nigeria that planes bearly go there before talking about building another ones?  But lets see how it will look like and many plane that will go there.

dinggle:

your friend must me insane, ,  this is a totally unimaginative post.

Whats he doing overseas?, let him go to Nigeria and drive where he loves the most, it is people like him that needs to be extricated from Nigeria if progress is to be achieve. We have so many people like him that is why even when looking through the tunnel there seem to be no light in the distant future. It is people like him who enjoy the positives abroad and come home to preach the negatives in order to forever keep Nigeria in darkness.

*How can anyone prefer a death trap to a safe heaven when it comes to driving

Do not mind them. This is why Nigeria never be in progress. They go to abroad and followed the rules. They return to Nigeria and do the opposite things and yet they will be the first to complain that Nigeria is below third world country. Those of us that drive in abroad suppose to be a remodel to Nigerians that are back home. Shame for those that go to Nigeria and not obey the laws.

As for driving in abroad is more safer and easier. You know your limit and where you are aheading unlike Nigeria, until someone tell you that you are in Ibadan or Ore or Benin city, you will not know where you are. As for me, Nigeria is the last place on earth where I will never drive. The day I am ready to settle down in Nigeria, I will hire driver period.

passionup:

@ OvieE
you still made some grammatical blunders like mixing past tense with present tense. Supervisor or no supervisor u committed blunders accept it and take correction.
My guy,take no offence and i want to correct certain misconceptions found in your write up. When you go abroad, dont forget how you left home and how the level of development is .To me it is irrational comparing those airport in NY ,Texas and what we have in a state in NIgeria. We are not at par in terms of development and advancement in ,
and there is absolutely no basis for comparism.We should strive to have these things done with satndards and not all these criticisms flying around.
Akwa ibom etal Nigeria is a third world developing country and there is bound to have challenges.We should pray that our leaders shouldnt be shallow minded and stltifies in thinking so that they embrace positive things nd innovations they see abroad.
mY GUY, WE WILL GET THERE, Just have faith and hope in your country for once.Abroad na ABROAD.home is home.

I am not here to argue with you. I should have go back and review what I wrote but time was tight for me when I was at work. Thank for point it out.  As for having faith in Nigeria has passed. Decades after decades I will never rest with pray and have faith. Day after day, Nigeria is going down. Poverties are more than what you cannot think of. Do you the state of Nigeria roads today? Nigeria leaders are setting traps on roads instead of setting traps in bush for animals. Nigeria has money to able to stand with European countries in any competition. But today, Nigeria is a country call hell. Somalia, Afghanistan, Iraq and other most poorest country are better than Nigeria. Do you know why I said that? If you have been reading about UN, you will find out that Nigerians seek more asylum than countries that are in war. That is pathetic.  Read this below:[/b]

When everything fails, ask for asylum
By Levi Obijiofor

IT must have come to many of us as a shock that, at a time of relative peace, when our politicians are still celebrating the "dividends" of democracy, many Nigerians are queuing in western countries pleading for recognition as asylum seekers. What could have driven over 7,000 Nigerians to lodge asylum applications in western countries within the first six months of this year alone? Take a look at the figures contained in the report, released by the United Nations High Commissioner for Refugees (also referred to as the UN Refugee Agency), and published in The Guardian edition of Tuesday, October 27, 2009. The figures are startling.

If our political leaders have any sense of shame and responsibility, they must be concerned that in 2009 alone, Nigeria has shot into global notoriety as one of the "main countries of origin of asylum seekers". Worst still, Nigeria has also made history as the country with "the highest percentage increase among the major source countries of asylum seekers". When reference is made about the source countries of asylum seekers, we expect to see in the list countries that are experiencing political instability such as Iraq, Afghanistan and Somalia. We do not expect to see Nigeria in the list. Now, the reality has hit us.

According to The Guardian, in 2008, the number of asylum seekers from Nigeria rose to "2,471 in the first quarter, 2,761 in the second, 4,014 in the third quarter and a record 4,442 at the end of the last quarter. While the rise between last year and this year is 47 per cent, the rise between 2007 and 2008 was higher at 69 per cent." While some people might argue that these figures are insignificant when considered against the background of Nigeria's population, yet the notion that Nigerians are asking for asylum in progressively large numbers in developed countries should alarm everyone.

Just between 2007 and 2008, the UN Refugee Agency recorded a surge in the number of Nigerian citizens requesting for asylum in the developed world. The trend is deeply worrying. Why? Nigeria is blessed with human and natural resources that could easily have been harnessed by other less endowed countries to propel themselves into positions of economic strength and international recognition. Nigeria symbolises the prodigal son who squandered glorious opportunities shoved onto its laps.

The terms "asylum seeker" and "refugee" are often misused or misapplied when public debate ensues about who is qualified to be classified as an "asylum seeker" or a "refugee". The UN Refugee Agency makes a clear distinction between an "asylum seeker" and a "refugee". According to the agency, "An asylum seeker is a person who has left their country of origin, has applied for recognition as a refugee in another country, and is awaiting a decision on their application." What about a refugee? How should we describe a refugee? The UN agency also defines a refugee as someone who "owing to a well-founded fear of being persecuted for reasons of race, religion, nationality, membership of a particular social group, or political opinion, is outside the country of his nationality, and is unable to or, owing to such fear, is unwilling to avail himself of the protection of that country, "

So, how are refugees different from other categories of people seeking protection from other countries or the UN agency? The UN Refugee Agency states categorically that "Refugees are forced to leave their countries because they have been persecuted or have a well-founded fear of persecution. Refugees run away. They often do not know where they will end up. Refugees rarely have the chance to make plans for their departure such as packing their personal belongings or saying farewell to loved ones. Many refugees have experienced severe trauma or have been tortured."

Some human rights advocates tell us that some asylum seekers fit that description perfectly. Some people equally argue that the difference in the definitions is all about semantic ambiguity. Semantics or not, Nigeria is now associated with countries that produce high numbers of people seeking asylum in the developed world. Why are Nigerians applying for asylum in other countries? The answers are inside Nigeria.

If we want to understand why many Nigerians are seeking asylum in other countries, we must look at the failure of leadership, the disappointments we have lived with since independence and the lack of hope in the horizon. We boast about our precious oil resources but we can't demonstrate how we have used oil revenue to develop our country. In a disorderly country such as ours, strange things will continue to happen.

Nigeria has been experimenting with western democracy for the past ten years (1999-2009). Regrettably, we have nothing to show for it. We were promised in 1999 that democracy would herald economic prosperity, that foreign investors would make Nigeria their second home, that democracy would engender greater accountability and responsibility in government, that politicians would spurn corruption and that ours would be a healthy deliberative democracy in which everyone would be free to participate.

All we can show after 10 years of noisy parliamentary debate and the ritual of yearly presidential budgets are growing poverty, unemployment, decaying infrastructure, a decadent public service, public mortuaries that serve as public hospitals, poor quality of tertiary education worsened by constant disruptions to academic calendar, failure to use new technologies to improve our socioeconomic conditions, failure to generate and sustain electric power to serve the country, and a ravenous appetite for illegal acquisition of public property.

In a sense we are all guilty of the Nigerian situation. How? We failed to respond vigorously to certain aspects of Nigeria's political culture that have continued to undermine the progress of the country. How do we expect things to work in Nigeria when we watch apathetically as politicians mess the economy, when we vote during elections and politicians manipulate the results, when oil prospecting and drilling licences are issued on the basis of political party membership or ethnic and religious affiliation, while people in the oil producing parts of Nigeria are confronted with grinding poverty, including the deleterious effects of oil production and gas flaring on their environment?

Things have deteriorated in Nigeria because of the failure of civil society to hold the leaders accountable. The more indifferent we are to our situation, the worse things will get. Nigeria has remained a failed state essentially because everyone failed to act when things went wrong. When senior government officers are picked up for fraud, we feel astonished. It is not common in our environment for the untouchables to be prosecuted. That's why the nation was awed this week when a Lagos High Court sentenced Olabode George and five of his associates to years of imprisonment for various crimes. In our society, jailing high profile politicians and public officers is not common.

In sentencing Olabode George and his accomplices on Monday this week, Justice Olubunmi Oyewole demonstrated uncommon valour. He set out to correct the long established impression that certain categories of political leaders and public officers cannot be reprimanded or jailed when they abuse the law. He was adamant that George and his associates had committed serious crimes against Nigeria and that they must be punished. In a judgment that reverberated across the country for its legal and social implications, Justice Oyewole said emphatically: "When public office is abused, the entire populace is assaulted. This must not be condoned or treated with kid gloves. If the quality of service in our public life is to be altered to the appreciable standard of the civilised world, the right deterrent should be given. For the right deterrent to be served, therefore, sufficient firmness must be demonstrated."

Justice Oyewole deserves public commendation and recognition by his peers for his courage and determination to use high profile persons as examples to illustrate the point that in civilised societies no one is deemed to be above the law. For a long time, Nigeria has been perceived as a jungle where no law exists or where existing laws are largely disregarded. It is good to see that the judiciary is determined to ensure that laws are respected in our society, regardless of anyone's social status, political class and place of birth.

There are many genuine and serious reasons why people seek asylum in other countries. However, seeking asylum in other countries must not be our natural response to failed leadership, economic hardships, social disorder, insecurity, corruption, lack of basic infrastructure, poor quality of education, and high crime rate in Nigeria.

CHAIRMAN1:

Nice write up, but there's a lot a 'gunshot' in the grammar. Please edit your writeups properly b4 posting.
Thanks

I know. I couldn't resist this topic so I hurry to write it while I was working. I would have review it but there is no time. My supervisor is everywhere.

Anyway, thanks.

@ THE AMAKA

I do not know what to say but say job well done. To further elaborate on Nigeria, my wife still live in Nigeria until early January. Everytime ask her what is all this happening in Nigeria, she will said that she does not aware of such a thing is happening in Nigeria. Imaging that the father of former CBN is kidnapped and my wife do not know anything about it almost one week now. We that lives in abroad know what is happening in Nigeria minute by minute. But those that lives in Nigeria have no clue what is happening in their own country. No wonder that the corrupt politician will continue to loot the treasure because those innocents Nigerian has no clue of deprivation Nigeria leaders is keeping away from them.

As for the airport, I laugh when I saw it. Poor airport for poor people. Imaging that useless news man saying that is the second runway in Africa after Cairo. The news man lack knowledge and giving out misinformation. Why will airport look like a resident house? Airport with out terminal. Which new airport in the world without terminal. That airport will not see flight from International because it belows standard. International airlines are even managing Lagos airport. The plane touchdown and instead of brief smoke, I see dusks everywhere. Whoever say this is an international airport need to re-exam his/her head. Everything in Nigeria is a joke. New airport looks like bush. London new terminal was on CNN. Will this Akwa Ibom be on CNN too? the answer is no. Those people that was at the airport are still below third world country. That garbage airport will only (I said only) receive one plane per week that if there is traffic of people to that destination.

Someone measured that Ibadan is too close to Lagos. The problem is that people do not visit Nigeria unless those of us Nigerians that live in Abroad. Look at NYC and Newark. Are they not close. Look at Houston, San Antonio, Dallas and Austin. They are so close to each other and yet they all have their own international airport and local airports as well. Look at California area is the same thing. The problem with Nigeria is that Nigeria lack air traffic and our airports air not even close to international standard. Each state in Nigeria suppose to have their own international airport not to talk of each city like in USA. Nigeria to have visitors and that is the problems. The other thing is that our leaders have a baby brain. At this model world, they not suppose to build baby airport. They suppose to look around the world they have being traveling to and compare. Thinking of Nigeria, one will die. the country leaders lack knowledge period.

Horus:

[size=15pt]In 2009, 15 of the 20 Fastest Growing Economies will be in Africa[/size]

Published: 20-Apr-2009

Emerging from the Storm

By Stefanie Eschenbacher

Who would have thought that the fastest-growing economies would one day be African? Yet the Economist Intelligence Unit forecasts that 15 out of the 20 fastest growing countries in 2009 will be in that region. Indeed, while most of the developed world has slipped into recession and growth has slowed in developing countries, Africa has bucked the global trend.
Ayo Salami, the manager of Duet’s newly launched African Opportunities fund, sees enormous potential on the continent, despite pressure on Africa’s small stockmarkets, falling commodity and oil prices, and diminishing foreign investment. Duet, an alternative asset manager, has just bought up the assets in New Star’s high-profile Heart of Africa fund, intended to invest in the boom of the region’s frontier markets. Troubled New Star said it had to wind up the fund because of reduced liquidity in the sub-Saharan markets.

Salami, who is also the chief investment officer on the Duet Victoire Africa index fund, says that as African countries grow, income per head grows and a new middle class emerges.

He says the political environment has improved and there have also been in-depth institutional reforms. For example, more African countries now have an independent monetary policy committee that sets interest rates and sound money policies.

Michael Power, a South Africa-based global strategist at Investec Asset Management, says: “In 2008, the capital tide flowed out of Africa’s financial markets and given the events of last year, this is hardly surprising.” He adds that the declines reflect a rise in risk aversion globally and “echo the idea that stockmarkets are forward-looking, discounting mechanisms that pay particular attention to growth prospects as they materialise in the profit outlook for companies”.

He says Africa’s share prices have fallen more than subsequent operational performance would tend to warrant. But there is also a correlation between GDP growth and stockmarket performance, although not an absolute one.The stockmarket capitalisation of sub-Saharan Africa may still be less than that of a single giant such as Shell, Power admits. But he says one should also ask if Shell is going to grow faster than Africa.

Those African countries that depend on their commodities have been particularly hit by the crisis as the global demand for their goods declined, says Christopher Hartland-Peel, an African equity researcher at Exotix. But he stresses that “the bottom has been seen”.

While prices for commodities and oil have plummeted, he adds, soft commodity prices have been more resistant in the first place. “Demand for tea, cocoa and agriculture produce has been ­stable; prices for metals and oil will re­cover as the world economy recovers.”

Hartland-Peel also observes that many African economies, which used to rely on their commodities exports, are switching to a more domestically-orientated economic model. “These countries are growing from a very low level – there are considerable opportunities.”

“The continent’s demographics are the key implications,” Salami argues. “Half of the African population is under 35 years old. Europe and Japan, for example, have ageing populations.”

“We don’t like export companies and we don’t like mining companies because the demand for their products depends on Western economies. We’ve also got a negative view on banks and financials because we expect rising loan loss ­levels,” Salami says.

“But this [approach] changes as the economy changes. I can see a time when the demand for mining and natural resources will rise again.” When China’s economy takes off, he will “restructure the portfolio and take advantage of these conditions”.

“Investing in larger markets like Egypt is relatively simple, but we invest in esoteric markets like Botswana, Namibia and Uganda that others consider as too small. However, this is where we see the opportunity to add value for our investors.”

He says Duet’s philosophy is to “enable investors access to products and regions of the world where efficient models are not yet in place”.

For now, the newly appointed fund manager is looking for companies that are investing in infrastructure projects and those that meet domestic consumer demand: breweries, food companies, telecoms and cement.

Despite the financial crisis, domestically oriented sectors have tended to continue “business as usual.”

Power says Africa’s middle class “is on the move, although not as impressive as in China.” The global strategist likes what he calls “the BBC”: brewing, banking and cement. “These three sectors, and perhaps the telecoms sector, tend to grow more than the economy itself because of demographic changes.”

Nick Price, the manager of the Fidelity Emerging Europe, Middle East and Africa Fund, says that the African consumer is “under-served”.

In terms of geographical asset allocation, he favours South Africa. But he also points to Nigeria and Zimbabwe as possible investment opportunities. Yes, Zimbabwe. “Things look like they are improving. Zimbabwe is getting rid of its [hyper-inflationary] currency and everything is paid in US dollar and South African rand.

“Nigeria has grown by 7% over the past couple of years. One would think that this was driven by oil but it was actually telecommunications and the financial sector – domestic-related segments.” He says that the largest manufacturer of soap, PZ Cussons, has grown by 20% per year. Nigeria, like other African countries, is coming from a very low level. “The Nigerian demand for foam mattresses is up by 20% to 30%.” As per head income rises, people are replacing their straw mattresses. Beer consumption is growing at 10%. For example, Heineken has a large stake in Nigerian breweries, a stock that trades at 10 times earnings and pays an 11% dividend. He says such businesses grow at exorbitant rates because “African consumers have not been serviced properly”.

Mark Mobius, the manager of the Templeton Frontier Markets fund, says he is still interested in raw material and mining. “However,” he adds, “ the African consumer is becoming more interesting to us. For example, we are interested in anything with retail sales or telephone services.”

Like most investors, Mobius’s biggest investments are also allocated in South Africa. “This is mainly because the choice of well-run companies is greater than in other countries. Liquidity is greater and valuation is better." He also has holdings in Kenya, Nigeria, Egypt and Tunisia but says that “South Africa has the greatest potential”.Mobius says South Africa has a ­stable society, good infrastructure and a developed legal system, factors he considers when making decisions.

Emad Mostaque, who co-manages Pictet’s Middle East and North Africa fund, warns that “the sub-Saharan African equity markets are very illiquid”. Last year it seemed there was too much liquidity in too few stocks, he says. “Now a lot of money has been taken out.”

“Middle Eastern markets have only been accessible to investors for two to three years,” he says. Governments in the region have “liberalised the market and encouraged foreign direct investment”. In an effort to attract foreign investors they have created tax benefits and other incentives. “Some companies receive free land and resources are available at a reduced rate so that local companies can grow and create jobs.”

He continues that the region took advantage of high oil prices and paid off all debts when oil prices were high. “They can now invest in infrastructure.”

Sanjeev Gupta, the CEO of South Africa-based Sanlam Investments, is responsible for business in Africa and other emerging markets. “We do have a pan-Africa strategy, excluding South Africa. But investment opportunities vary from country to country.”

Gupta says there is now more optimism towards Africa from large ­corporations. Domestic flows are increasing, discretionary savings are increasing and governments are beginning to form pension schemes. “Funding is no longer a challenge but creating opportunities is,” he says.

“There are not enough companies listed on the stockmarket. [However,] there are very early signs of companies coming into equity markets as opposed to just raising debts.”He says there is a shortage of readily available local investments in listed funds because to a large extent the main commercial activities – power, water, electricity, housing and telecoms – are controlled by governments.

“The public sector or government-owned companies are not listed [on the stockmarket]. Other companies, such as those operating in the financial or mining sector, don’t necessarily come into the local stock exchange markets to raise equity debt. Or they are owned by ­foreign multinationals.”

Mobius says: “There are well-run companies [in the region] that are just as good as companies in other countries, or even better.” He continues that “now we can find a lot of bargains, not only in Africa but also in lots of other emerging markets”.

Andrew Brown, a manager of the Aberdeen Emerging Markets fund, holds two companies listed in South Africa. The fund gains indirect exposure to other African countries through these companies, which have operations in sub-Saharan Africa. "For example, Massmart not only operates in South Africa where it is listed, but also in other countries like Nigeria, a country of 140m people – which makes it the largest consumer market in sub-Saharan Africa. The second company, Truworths, has operations in Botswana.” Brown says both companies have adopted a conservative expansion strategy. “Their cautious approach gives us confidence of longer-term source of growth.”

“I would like to get higher exposure to the sub-Saharan Africa but the problem is liquidity,” Brown says. “We found decent companies but haven’t found any that are good enough to include in the GEM fund.” Searching for investment opportunities, he has travelled repeatedly to Ghana, Kenya and Nigeria. “We meet companies several times before making a decision.”

Dirk Kubisch, a product specialist at Julius Baer Asset Management, says the Northern Africa fund invests in Egypt, Morocco, Tunisia and sub-Saharan Africa. It has smaller asset allocations in Kenya, Nigeria and Zambia

“We don’t use a defined sector approach but a combination of bottom- up stock selection and top-down macro analysis. Companies have to be strong as a stand-alone position.”

He focuses on market leadership, earnings growth and strong balance sheets. “On a stock level, we identify stocks that are placed with different themes.” He is now keen on the financial and telecommunication sectors. “Most people first think about commodities when they hear Africa, but there are a lot of other opportunities.”

Kubisch says some of the risks include currency risks and inflation. “I don’t hedge currencies because the cost is very high. Financial markets are not so developed, and one needs to have instruments. Interest rates are also generally high in developing countries.

“When investing in frontier markets, it is always a challenge to get stocks that are liquid enough. And there are not a lot of large caps in the region.”

“Investors traditionally regard high liquidity as a good thing,” says Power. “But Africa has shown this need not be so; its relatively illiquid frontier markets, although still mostly recording negative returns, significantly outperformed both developed and emerging markets in 2008.” He says those investors who have employed this approach alone have, when faced with the need for liquidity, often been forced to liquidate their deep-value yet illiquid stocks at “fire-sale prices”.

Power says that high liquidity often encourages investors with short-term horizons to trade the market. And taking short term positions makes the market more volatile.“In less liquid markets, investors patiently buy positions for long-term investment,” he says. “Long-term investors don’t need to trade today.”

The global strategist says investors face issues such as availability of information and stocks and tradability of stocks. “Long-term investors are not afraid of investment heights and that profits that are not necessarily materialised tomorrow.

“One has to have a private equity mindset when investing in Africa, although this is not so much true for South Africa, Nigeria and Egypt.”

Power says: “The real art of investing in Africa’s emerging and frontier markets – an art only available to institutional investors with a longer-term time horizon – is to balance the more cyclical, shorter-term advantages that accrue to liquid emerging markets against the more structural, longer- term advantages that accrue to deep- value frontier markets.”

Source: http://www.sacca.biz/?m=14&idkey=738

Who is this fuccking barstand that keep this on different thread. By the way, which africa country has growing since the reccession. America goes down so is the rest of the world and it hurt Africa most. So shit-ta fuccking up and stop post this bullshit on different thread. No one is fucking interested in reading this long crap.Africafucking

Laugh don killlllll me-oh. God what has Nigeria become. Soon they will declare Temporary Ceasefire for poverty.



Maybe they should declare Temporary Ceasefire from corruption.

Guys, this is just the beginning. Lets wait to 2011 election, hell will let lose Nigeria.

iykedare:

[size=16pt]
very soon u`ll come here to tell us your story.[/size]

She's another whole for cash.

Oh my God, Ladies don suffer well well.

What is the meaning of economy growth when the millions and millions of people are suffering.

This people don't seem to surprise me anymore. Talk is cheaper than producing it. Sanusi will roast in hell just mark my word.

Beaf:

www.nairaland.com/attachments/180447_ROTFLMAO_gif3d0c775232c7f27cf80592785b9635b6 www.nairaland.com/attachments/180447_ROTFLMAO_gif3d0c775232c7f27cf80592785b9635b6 www.nairaland.com/attachments/180447_ROTFLMAO_gif3d0c775232c7f27cf80592785b9635b6

Poor sharia loving dude.

Nice one.

They look great poster. Thanks