Globally, Nigeria’s Now a Choice Place for Investment, KPMG Says

The Global Chairman of KPMG, Michael Andrew, has said during a recent visit to Nigeria, that Nigeria, Indonesia, Turkey and Mexico are the new choice places for investments — globally. He made this known as he met the press during his visit, stating the burgeoning interest of investors in Nigeria. He said, that, “The offers for the MINTs — Mexico, Indonesia, Nigeria and Turkey — are intense and we are getting a huge amount of enquiries about these countries. People want to know how to do business in these countries, how to access the markets and how to take advantage of the long-term growth that is coming.” “If you are a CEO and you are sitting in London, New York or Frankfurt, because the market is growing and the cash inflow to these markets, the markets are putting pressure on the CEOs to try and find new markets where they can find growth. “Particularly, companies in consumer markets such as financial services, food and energy are the ones that they are really focused on in these emerging economies,” he said. He continued, saying, “Initially they are going to move into the stock market, then they will move into the property market, then they will start to move into the real sector in economies such as Nigeria. So everyone is watching where this cash goes, but the real question is what are the factors that will actually drive this growth?” In the last few weeks, I have been to Mexico, Indonesia, India and then Nigeria, and their similarities are remarkable – between those economies and this one are the ones attracting a lot of interest. In the last few years, we have talked about the BRICs being the area of focus. But if you talk to international investors, their views will be that the BRICS, with the exception of China, have been quite disappointing. So they have found it difficult to invest in these countries, their regulatory environment is unpredictable and they have not been able to get good returns on their investments.” “As such, people are now focused on the MINTs. They are the four countries that international investors are really focused on for growth and investment.”