Nigeria has announced, after rebasing its GDP (Gross Domestic Product), that its economy is now the largest in Africa, bigger than South Africa.
That may be true, and this points to what will probably amount to a positive outlook toward its economy, but there are some “distinctions” that should be made. According to the “numbers”, South Africa still has the largest GDP per capita (per person), and its infrastructure is still more advanced and developed than Nigeria’s.
That being said, there could be some tremendous long-term stock opportunities for firms that are starting to make significant investments in the Nigerian economy. And some of these are South African firms! Shoprite Holdings, LTD. (SRGHY), for example, a retailer headquartered in South Africa, is opening new stores fast in Nigeria (as well as in other countries).
Are you investing in Africa, where the “smart money” is going? We here at Africa Investment Report will continue to “do our homework” and look for “practical” opportunities for you to invest in Africa. So what are you waiting for? Sign up in the box to the right for updates, and as a gift for doing so, get our FREE report: “How to Profit From Africa’s Growth Without Leaving Home”.