Mmegi

Why local pension funds billions are chasing Dangote

Building dreams: Dangote’s IPO is the biggest ever seen on the continent PIC: MORERI SEJAKGOMO
Building dreams: Dangote’s IPO is the biggest ever seen on the continent PIC: MORERI SEJAKGOMO

A roomful of pension funds and their asset managers recently made an impassioned plea for Africa’s richest man, Aliko Dangote, to ensure local access to his record-breaking Initial Public Offer. The $1.6bn float promises high returns and portfolio diversification, writes MBONGENI MGUNI

As at June 30, the country’s pension funds held more than P176 billion in assets, with about 44.6% of these held locally.

A long-running challenge for holders of sizeable assets in the country has been finding investable opportunities in the local economy, areas where funds can be invested and kept safe with returns that reliably beat market metrics.

Editor's Comment
Commitment by DPP to fight corruption welcome

Whilst many citizens put trust in their leaders that they are tackling one of the worst curses that can befall a country, the public has lost trust after all the cases seemed not to go anywhere.As the saying goes, ‘corruption is a cancer that eats away at the fabric of society’; corruption affects effective governance.Corruption affects delivery of services to the public and also crumbles most systems meant to assist citizens who are very...

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