Afrinvest Upbeat about Nigeria’s Investment Climate amid 2023 Elections

Gilbert Ekugbe

Afrinvest Asset Management Limited has expressed optimism over Nigeria’s investment climate calling on both local and foreign investors to take advantage of the nation’s investment opportunities.

The Chief Investment Officer, Afrinvest Asset Management, Mr. Robert Omotunde, said the company has witnessed over four elections in the country over the past 27 years of its existence, assuring investors of the company’s commitment to deepening Nigeria’s investment management space.

At a press briefing to announce its short term rating of A3 and long-term rating of BBB from Global Credit Ratings (GCR) as well as the investment manager’s rating of A- by Agusto& Co, Omotunde said within Afrinvest asset management division, it has seen a lot of quality strategy the company had introduced into the market, pointing out that the company has consistently over the last three years posted investment strategy outlook for the next quarter which he said are typically reports that would guide investors on available investment opportunities available.

“It is an exciting moment for us and we are quite glad about some of these developments. We are using this medium to call on the investment public looking for an investment manager or an asset management business that they can partner with in growing their wealth and simplifying their investments then Afrinvest asset management is one firm that they should be talking to. You can be rest assured because we are an innovative company and we have survived through all the difficult terrain in the market and we have products that we are planning to introduce to the market by January next year aimed at meeting investors’ expectations,” he said.

“Even though the economy is challenged, there are still some opportunities for specific sectors of the economy. We recognise that the blue chip sector of the economy has been challenging this year no thanks to inflation and we have continued to experience rate hike of MPR at 16.5 per cent which is the highest in terms of MPR. We have seen lackluster performance in the domestic bonds market, because there has been no consistency in terms of how market rates are moving so the capital market has been a mixed bag of events.We can already see the light at the end of the tunnel which is likely going to happen in 2023. We know that during election year, there is a high level of uncertainty, but as a matter of fact, the market is still quite positive despite the fears that come with a pre-election year. For next year, we know that there are so many opportunities for investors in the country,” he assured.

He however stated that the rating agencies’ assessments showed the competence of the company’s staff members, the commitment of the company to delivering superior returns on investment and quality weekly strategy report and insights on fixed income, commodity, and currencies.