Mark Mobius
of franklin templeton fame was just on BNN.Surprisingly positive comments on Africa and particularily Nigeria where they hold a large portion of their Frontier funds assets.
Says Nigerian banks are much stronger than most would expect due to reforms.Nice to hear a
big shot say something positive about Nigeria as apposed to the usually slamming it receives.
Pulled this off their website.
2013/06/07 Frontier Markets – Emerging Markets of the Future
These so-called “emerging markets of the future” have enjoyed strong growth from low base effects, abundant natural and human resources, the availability of easy gains from market reforms and injections of technology into relatively low-wage economies. Compared with more mature emerging markets, frontier markets are relatively under-researched, and we believe that this lack of familiarity could lead to undervaluation and pricing anomalies that we could seek to exploit through our extensive research resources. We are finding many opportunities in frontier markets globally, but with an especially dense pack of opportunities, we think Africa in general represents an investment destination all its own and one we are eyeing with particular interest.