Economy
West Africa Property Investment Summit To Showcase Ghana Growth
By Modupe Gbadeyanka
From tomorrow, Tuesday, November 16 to Wednesday, November 17, 2016, experts in the property investment industry in Africa and the world will converge in Accra, Ghana, for the annual West Africa Property Investment Summit.
They will meet to discuss the challenges, opportunities and the future of real estate in the West African region.
The event is expected to take place at the Kempinski Hotel in Accra, Ghana’s capital city.
Despite very often receiving less coverage than its powerhouse cousin Nigeria, the summit’s host nation has emerged as a powerful real estate investment destination, and a favourable endorsement from the World Bank as West Africa’s “best place to do business.”
Ghana seems to be on the upswing despite some significant struggles in 2014 and 2015. This followed IMF approval of a $116.2 million disbursement to the country, which has resulted into significant improvements in power supply, exchange rates and the local currency, the Cedi, which is stabilizing.
These changes, coupled with the emergence of significant improvements in the housing, retail and commercial sectors, and some pioneering mixed-use developments on the horizon present the possibility for a brighter Ghanaian future. These improvements make it far easier to believe the growing sentiment that Ghana is rising and Ghana is doing well. Ghana recently received a solid credit rating from Moody’s, which was followed by equally positive ratings by Fitch as well as Standards and Poors.
The West African retail market has been revolutionized over the past ten years. There has been considerable growth in the sector which has meant a significant change in the view of retail investment in the region. But recent economic challenges have made it difficult for the sector to continue to flourish in the same way as previous years. Even the best retail spaces are struggling to incentivize the right number of tenants, but the Ghanaian market has weathered this challenge by adjusting its tactics. Broll Ghana CEO, Kofi Ampong explains.
“To ease the increasing pressure on landlords, given the prevailing market realities of higher vacancy rates, some Landlords in order to drive occupancy in their malls have adopted a strategy of subdividing larger boxes originally meant for one tenant for use by multiple tenants in order to reduce vacancy rates,” he says.
In particular, the residential market in Ghana is at its most active in recent history, registering over 85,000 transactions a year over the past decade. However, with an abundance of new residential developments both in the pipeline and coming to fruition on the back of weakened consumer purchasing power, it is difficult to know whether the market will boom as a result, or suffer from oversupply in middle to high income housing. Despite some challenges, the summit will tackle the potential for the Ghanaian housing market, and the missing links still required. General Manager at Devtraco Limited, Elvin Larkai, remains positive about the sector’s outlook.
“There are massive opportunities for Ghana’s housing sector. Demand continues to grow and this serves as an added incentive for real estate investors. Unfortunately, a lack of reliable data is impeding progress. We need such data to improve our products and services to house hunters. This would also lead to a more thriving industry, contributing immensely to the country’s economy,” he says.
While the predominant focus on real estate rests in the commercial and housing sectors, some companies are turning their attention to blends between the two. Rendeavour’s Appolonia City development is one such example – as a 2250 acre mixed-use and mixed-income in the Greater Accra Metropolitan Area. The project is being developed for residential properties, retail and other commercial centres, as well as schools, healthcare and other social infrastructure. All local and national regulatory approvals have been met and a full land title certificate has been granted. The City has been planned to include key amenities and allow for the integration and flourishing of its two key elements.
“The combination of functions is the only way to create the quality people rightfully expect of urban developments in the 21st century. Mixed-use developments have been proven to stand the test of time and as future-proof real estate investments,” explains Holger Adam, Country Head for Rendeavour Ghana
While the 2016 election will play a major factor in Ghana’s trajectory, the landscape for investment is certainly more amenable than even just a year ago. With an internal structure being clearly established, and successful strategies and projects being implemented in the West African nation, current wisdom suggests the country will continue its upward real estate journey for some time.
By Adedapo Adesanya
Nigeria attracted $10.37 billion in capital importation in the first quarter of 2026, representing an 83.8 per cent increase from the $5.64 billion recorded in the corresponding period of 2025, according to the National Bureau of Statistics (NBS).
The latest Capital Importation Report released by the stats bureau also showed that capital inflows rose by 60.97 per cent from $6.44 billion recorded in the fourth quarter of 2025.
The report stated, “In Q1 2026, total capital importation into Nigeria stood at $10.37bn, higher than $5.64bn recorded in Q1 2025, indicating an increase of 83.83 per cent. In comparison to the preceding quarter, capital importation increased by 60.97 per cent from $6.44bn in Q4 2025.”
Analysis of the inflows showed that portfolio investment remained the dominant source of foreign capital, accounting for $9.86 billion or 95.09 per cent of the total amount imported into the economy.
The stats office disclosed that foreign direct investment stood at $135.08 million, representing only 1.30 per cent of total capital inflows, while other investments accounted for $374.48 million or 3.61 per cent.
“Portfolio Investment ranked top with $9.86bn, accounting for 95.09 per cent, followed by Other Investment with $374.48m, accounting for 3.61 per cent. Foreign Direct Investment recorded the least with $135.08m, representing 1.30 per cent of total capital importation in Q1 2026,” the report added.
A further breakdown showed that money market instruments attracted the largest share of portfolio investments at $6.50 billion, while investments in bonds amounted to $3.23 billion.
Equity investments under the portfolio category stood at $131.81 million.
The banking sector emerged as the biggest destination for foreign capital during the quarter, attracting $7.55 billion, representing 72.79 per cent of total inflows.
The financing sector followed with $2.43 billion or 23.42 per cent, while the production and manufacturing sector attracted $152.27 million, accounting for 1.47 per cent of total capital imported.
Other sectors that received foreign investments included shares, trading, agriculture, information technology services, telecommunications, oil and gas, transport, construction, healthcare, education, and consultancy services.
The United Kingdom remained Nigeria’s largest source of foreign capital, accounting for $5.08 billion or 49.01 per cent of total inflows. The United States followed with $3.18 billion, representing 30.69 per cent, while South Africa accounted for $983.83 million or 9.49 per cent.
Among financial institutions, Standard Chartered Bank Nigeria Limited received the highest capital inflow during the quarter at $4.41 billion, representing 42.56 per cent of the total.
Stanbic IBTC Bank Plc followed with $2.78 billion or 26.79 per cent, while Rand Merchant Bank handled $930.82 million, accounting for 8.97 per cent.
Other banks that facilitated capital inflows into the country during the period included Citibank Nigeria, Access Bank, First Bank of Nigeria, Guaranty Trust Bank, Zenith Bank, FCMB, Ecobank, Fidelity Bank, and United Bank for Africa.
By Aduragbemi Omiyale
The 2026 licensing round for oil fields is expected to commence in the third quarter of 2026, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has disclosed.
This followed the approval of President Bola Tinubu, who doubles as the Minister of Petroleum Resources.
A statement issued by the spokesperson of NUPRC, Mr Eniola Akinkuotu, on Wednesday said the authorisation is in compliance with the Petroleum Industry Act (PIA).
“We are also fortunate that the President and Minister of Petroleum Resources has approved the 2026 Licensing Round,” the chief executive of the agency, Mrs Oritsemeyiwa Eyesa, was quoted as saying in the statement when she received representatives of Meren Energy (formerly Africa Oil) in Abuja yesterday.
Mrs Eyesan, who expressed satisfaction with the conduct of the 2025 Licensing Round so far, stated that the commercial bid would take place in July, after which the next licensing round would commence.
The NUPRC boss said the heightened participation in the 2025 Licensing Round was a testament to the fact that Nigeria was headed in the right direction.
She said the rise in investments, coupled with the upswing in production, was evidence that Nigeria’s oil and gas sector, under the leadership of President Bola Tinubu, had become attractive.
“We are in the process of finalising the 2026 launch, which will happen by the third quarter at the latest. So, this is the make-or-break point, and we want to make sure we make it,” she stated.
In his remarks, the chief executive of Meren Energy, Mr Oliver Quinn, said the current reforms had inspired the company to increase its investments in Nigeria, hence its interest in asset divestments and licensing rounds, revealing that his company’s investment priority is Africa, of which Nigeria ranks as number one.
“We have operated in Agbami, Akpo and Egina world-class fields. I think till date, in 20 years, about $11bn in capital from our side has gone into these assets, and about $4bn has gone to tax and royalties,” he said, adding, “Nigeria remains the core of our business today because of the quality of these assets.”
According to Mr Quinn, Meren Energy is pressuring its partners on these assets to deepen their investments and then increase overall production, noting that the energy firm was the first in Nigeria to sell crude oil to the Dangote refinery and will continue to fulfil its Domestic Crude Supply Obligation so long as the price remains right.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange extended its gains by 0.91 per cent on Wednesday, June 3, spurred by three price gainers led by FrieslandCampina Wamco Nigeria Plc, which rose by N13.90 to sell N210.41 per share versus the previous day’s N196.51 per share. MRS Oil appreciated by N10 to N190.00 per unit from N180.00 per unit, and Food Concepts Plc added 5 Kobo to sell at N3.00 per share versus N2.95 per share.
As a result, the market capitalisation increased by N23.91 billion to N2.660 trillion from N2.636 trillion, and the NASD Unlisted Security Index (NSI) gained 39.97 points to finish at 4,446.27 points, in contrast to Tuesday’s 4,406.30 points.
The NASD exchange witnessed three price losers at midweek, led by Nipco Plc, which shrank by N21.30 to close at N325.97 per unit compared with the previous session’s N347.27 per unit, Nitrox Industrial Gases Plc went down by N1.20 to quote at N24.30 per share versus the preceding session’s N25.50 per share, and Central Securities Clearing System (CSCS) Plc weakened to by 69 Kobo to N75.41 per unit from N76.10 per unit.
The volume of trades yesterday significantly improved by 71.5 per cent to 527,221 units from Tuesday’s 307,363 units, as the value of transactions soared by 49.9 per cent to N64.2 million from the preceding session’s N49.9 million, and the number of deals surged by 9.5 per cent to 46 deals from 42 deals.
When trading activities ended for the day, Great Nigeria Insurance (GNI) Plc remained the most active stock by value on a year-to-date basis with 3.4 billion units valued at N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units worth N6.5 billion, and CSCS Plc with 64.6 million units exchanged for N4.4 billion.
GNI Plc also ended the session as the most traded stock by volume on a year-to-date basis with 3.4 billion units sold for N8.4 billion, followed by Infracredit Plc with 2.3 billion units traded for N6.5 billion, and Resourcery Plc with 1.1 billion units transacted for N415.7 million.
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