In the last six months alone, Nigerian startups have gained the confidence of some of the best investors locally and globally
…Africa’s most populous country scored a rare double with an index return and ratings boost this week
For the most part of the last decade, Nigeria was a market international money managers were told to ignore. This week, two of the gatekeepers of global capital signaled that verdict is changing.
FTSE Russell confirmed Africa’s most populous nation will rejoin its Frontier Market index on September 21, and Moody’s has revised the country’s credit outlook to “positive.” Together, the moves mark the clearest sign yet that Nigeria’s three-year reform drive is being priced in by the institutions that decide where global money goes. Here’s what happened, why it matters, and what could still go wrong.
What just happened?
FTSE Russell’s reclassification
Nigeria will move from “Unclassified” back to “Frontier Market”
This post was originally published on this site.
