KPMG Professional Services says consumer goods and financial services are top attractive investment sectors in Nigeria.
The firm disclosed this in its second edition of the KPMG’s report entitled, ‘Doing deals in Nigeria 2019 – Key insights from dealmakers.’
It stated that the report was the result of a survey of 50 senior business executives working in global companies ,which had presence in Nigeria and had completed at least one acquisition in Nigeria in the last four years.
“Seventy per cent of the respondents were strategic investors while 30 per cent were financial investors with 66 per cent resident abroad and 34 per cent being indigenous respondents,” it added.
Part of the report read, “Findings from the survey indicate that Nigeria remains an attractive destination for investors seeking sustainable growth opportunities within the continent. Consumer goods, financial services, energy, mining and utilities, telecommunication, media and technology and business services sectors accounted for about 88 per cent of investments in the country in the last two years.”
Partner and Head, Deal Advisory and Private Equity, KPMG in Nigeria, Dapo Okubadejo, stated that the focus for the second edition of the report was “on investors who not only provide capital but have a presence in Nigeria. These respondents are able to provide a lot more feedback in terms of their local experiences, thereby giving a more robust feedback than the first edition.”
“The report also provides potential investors with insights into how best to do deals in Nigeria, leveraging the experiences of people who have been through the process and completed transactions,” it stated.
Partner, Deal Advisory, KPMG in Nigeria, Ijeoma Emezie-Ezigbo, while presenting a summary of the survey findings, focused on three parts which were; the case for Nigeria, deal dynamics and key deal drivers.
Emezie-Ezigbo said, “The survey reiterates that Nigeria is still one of the most compelling M&A markets in Africa.”