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Posts Tagged ‘financial’

Hamadoun Toure, to direct, and Gordon Smith. However, it is more appropriate for investment opportunities inherent in the economy of Nigeria before discussing the issue of security raised by the list Toure. Investment opportunities and security problem in NIGERIA Without doubt, Nigeria is a haven investment with a range of investment opportunities and lucrative oil and gas, solid minerals, agriculture, tourism, telecommunications, energy and steel, transport, trade zone, the financial sector, real estate / real estate, manufacturing, sports and entertainment, and fashion industry. Investors have a wide range of options to choose from. It ‘important that the rate of investment growth and fantastic exponentially in each of these areas.

Investors have the advantage of their products and services to market and take advantage of the population, more than $ 140 million. In the telecommunications sector, the statistics show that mobile phone users in Africa about 280 million, exceeding the United States and Canada, with its 277 million users in the first quarter of 2008. With 70 million lines in 2007, was the fastest growing region of the continent in the world, representing a growth of 38 percent from the Middle East (33 percent) and Asia-Pacific (29 percent). It ‘has also been shown that the fastest growing markets in North and West Africa, who have been together for 63 percent of total connections in the region. The record proved that Nigeria, Zambia, Tanzania, Democratic Republic of Congo, Kenya, Algeria, Tunisia, Ghana and South Africa are highly competitive markets in the region. The record, moreover, that two-thirds of the telephones in Africa are in their early stage of development, was, with penetration rates below 30 percent at the end of 2007.In percentage agreed that Africa, the market growth fastest in the world, but also the second smallest in relation to the connections to the Middle East.

Since Nigeria accounts for 57 percent of mobile phones in West Africa, the country is recognized as a leader in the telecommunications market and the fastest growing in Africa. With mobile phone users and 734 444 4493 2181 for GSM and CDMA, or can their contribution to West Africa and the growth of telecommunications in Africa are overstated. While economic growth was 7%, is about 35-50% of mobile phones. Assuming that each of these compounds has been occupying a minute a day, the country has generated in the telecommunications market, the ability to more than $ 16 million per day (USD16, 666,667) and nearly 6 billion dollars per year (Member U.S. $ 5,833,333,300).

Therefore, the telecommunications company Etisalat and Visafone fast and the likes of MTN, Globalcom, Celtel and other providers of telecommunications services came into opportunities in the country. Earlier this year announced a major GSM service provider with a customer base of more than 15 million of net income of $ 650 million (78 million naira) for the year 2007.Putting all together, easy to understand presentation Toure describes Nigeria telecommunications market as the best investment destination in Africa. Recognizing that the telecommunications industry in huge and there is no need to further the industry as a whole, Nigeria, the Commission of Nigeria (NCC) and the Ministry of State for Information and the use of communication have made the cover their position clear to the call for global investors to participate actively in this area because they have been willing to pioneer and licensed to the potential candidates for implementation as diverse as fixed telephony, mobile telephony must be granted, the Fixed Satellite ( VSAT), pagers, cell phones, Internet and other value added.

With the above facts, it can be concluded that the telecommunications sector in Nigeria offers lucrative investment opportunities and great for global investors. Consideration and a growth rate of 40% of the GSM market in the first quarter of this year (2008), the possibility of the return on investment in this sector. Agriculture is the dominant sector of the economy of Nigeria, spends about 70 percent of the population directly and provides nearly 88 percent of non-oil foreign exchange earnings. Contributes about 41 percent of GDP. The industry has recorded an average growth rate of 7 percent overall over the past three years, a significant improvement in less than 3 percent in the ’90s. Statistically, 91 million hectares of land in the country’s 92.4 million hectares suitable for cultivation. About half of the arable land is actually permanent crops and cultures, while the rest of the timber forest, permanent pasture and towns are covered. Among the areas that have been most common in Niger (7.6 million hectares) and Borno (2.8 million hectares).

If there are security problems in Nigeria, not a businessman, to explore the land of opportunity, companies such as Celtel, MTN, Etisalat, not safety-risk countries have had the courage to do business. Those who say the voices on security issues and corruption in Nigeria is different from making money to stop the spread in the country. The numbers do not lie. You are the greatest testimony of how the environment, the economy and the opportunities are in Nigeria. If you want to do business in Africa and make a good return on investment, we invite you to come to Nigeria. The political environment in Africa, especially Nigeria is enormous.

Dr. Hamadoun Toure, Secretary General International Telecommunication Union, Quoted by the newspaper Punch, May 13, 2008) What is happening with the Nigerian financial system is far from being in some way affected by the global credit crisis. Worldwide, banks are adequately capitalized at the time, but the Nigerian banks are better capitalized. And I do not think this is a problem. I believe that the Nigerian banks in Africa under the pressure of the other economies of the continent, that the credit crisis are being felt.
- Gordon Smith Head of Research, Africa and the Middle East, International Council for the
(Published in the magazine Punch, June 30, 2008). The right to connote the above two interpretations of the situation of the Nigerian economy. This agreement shows that the economy is one of the fastest growing economies in Africa and the world. Although Nigeria, the economic history of the hash that has suffered and is still in economic reforms in Nigeria, the finance in Africa and one of the twenty largest economies in the world until 2020. Needless to say that the country has experienced political instability, corruption and poor macroeconomic management in the past, this was the unpleasant and difficult economic conditions.

Place the government’s commitment to the economy have resulted in significant new relentless economic growth and development. Several mechanisms have been established for the growth and development, capable of weighing the interests of the parties to reach consensus. Perhaps this view is Gordon Smith must have influenced the presentation. He described Nigeria as the most dynamic market in Africa, under strong pressure from some countries in Africa, is to act as a buffer against the effects of global turbulence. He also noted that some countries such as Ghana, Malawi, Mauritius, were carried out, among other things on their ever at the time because of the risk and the general economy, banks consolidated, was far from being affected global credit crisis currently rocking the global financial markets giants. He also stressed that foreign investors will be patient enough for the financial system in Nigeria to weigh in terms of credit risk in relation to events in the world to invest in the country’s financial sector more attractive and raise capital.

Faced with numerous challenges, the Government of Nigeria to strengthen, diversify and make the economy more attractive and favorable investment climate for local and foreign investors. The government has a total liberalization and globalization of economic policy, privatization programs started and commercialization of public enterprises, provided that assumes complete security for companies and individuals, inviting domestic and foreign investors, laws, competitive inhibition abolished the policy embraced and rapid implementation to ensure the growth and development of all sectors of the economy. The effort is already bearing fruit, such as Nigeria today is the emphasis on foreign investment, increasing exponentially foreign direct investment (FDI). Attended dozens of trade missions and delegations from developed countries and developing countries, Nigeria and boost economic growth at a rapid rate. It is appropriate, during the debate on the second understanding of the above statements