“When Swedish frontier markets investor Tundra Fonder started up in 2011, Nigeria was intended to provide the fund’s largest African exposure.
The record of President Muhammadu Buhari has left the fund, which has a five-star rating from Morningstar, with Nigerian exposure of just 3%. That compares with 8% for Egypt, 6% for Sri Lanka, where the economy has collapsed, and 3% for Kazakhstan, which has a population of less than 10% of Nigeria.”
The Africa Report interviews Tundra’s portfolio manager Mathias Althoff on the problems and potentials for Africa’s most populous nation, Nigeria.
Read the full interview here (paywall).