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Published on:
Thursday July 19, 2018 – 8:39 pm
| Last update:
Thursday July 19, 2018 – 8:39 pm
EFG-Hermes announced today that it has entered into a definitive agreement to acquire all the shares of Primera Africa, one of the world's leading financial and research services companies. Investment in the Nigerian market. The acquisition contract must be finalized on August 31, 2018 after receipt of regulatory approval and certain special conditions.
Primera Africa is headquartered in Lagos, where the company provides financial services to its clients of local and foreign investors, having completed the uncle under the brand EFG-Hermes.
EFG CEO Hermes, Karim Awad, said that Nigeria is the fourth expansion outside the Middle East and North Africa markets in one year and is an extension of the business expansion strategy in emerging markets.
EFG-Hermes developed last year in the markets of Pakistan, Kenya and Bangladesh, and the company's headquarters in London was licensed "Nigeria is the largest market of consumption in Africa and one of the continent's top three economies alongside Egypt and South Africa, "said Mohammed Obaid, chief executive of the investment bank EFG-Hermes. That the Nigerian market is at the forefront of implementation and incomes of brokerage activity in all start-up markets in which the company operates indirectly until 2017.
It has pointed out that the company was focusing on the Nigerian market Tags by m The growth of the Nigerian economy, including the devaluation of the local currency, should be positive, as well as the appreciation of the local currency in the coming period, consistent with the stability of the local currency in Nigeria.
Commenting on the opportunities available in the Nigerian market, he said that we believe in the long-term growth characteristics of Nigeria's consumer sector as one of the most attractive sectors of the market, expressing our optimism as for attractive investment opportunities in the long term. This is supported by the recovery of the oil and natural gas sector, pointing out that the Nigerian stock market is one of the most attractive markets for investors after the index of the main stock market returns of 43.6 % in 2017.
