Nigeria's ballooning subsidies are a problem for the budget
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Nigeria's fiscal deficit is projected to spike to 5.5% of GDP from 4% (2021), if subsidies persist
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Senegal is fast positioning to become a major oil and gas producer – first gas in 2023 and export to Europe in 2024
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Ghana has launched the AfCFTA hub, which could give the trade agreement the boost it needs, highlighting its benefits
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This report is independent investment research as contemplated by COBS 12.2 of the FCA Handbook and is a research recommendation under COBS 12.4 of the FCA Handbook. Where it is not technically a research recommendation because the subject of the research is not listed on any European exchange, it has nevertheless been treated as a research recommendation to ensure consistent treatment of all Tellimer's research. This report has been produced by the analyst(s) named above (the "Analyst").
The Analyst certifies that the views and forecasts expressed in this report accurately reflect their personal views about the subject, securities, or issuers specified herein. In addition, the Analyst certifies that no part of their compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in this report.