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Tag: EFG Hermes Frontier

Government tasked to ease earnings repatriation to boost investment

Government tasked to ease earnings repatriation to boost investment

Business
With the coronavirus pandemic limiting the flow of foreign investments in frontier and emerging markets like Nigeria, investment analysts have advocated a review in policies that would allow investors to have free entry and exit in the financial markets. According to them, investors are wary of raising their stakes in markets with uncertain policy direction, citing concerns by foreign investors trapped in Nigeria’s debt market owing to low dollar liquidity. Some bondholders, who sold local-currency securities in March, have been unable to repatriate their proceeds weeks after. Foreign exchange inflows in Nigeria have taken a hit from a plunge in crude oil prices, which account for 90% of such earnings. Speaking at its virtual annual investor conference media roundtable, CEO of...