Africa’s largest mezzanine fund manager Vantage Capital is shrugging off uncertainties over the future value of the naira by investing in Nigeria’s pharmaceutical industry, managing partner Warren van der Merwe tells The Africa Report.
The wide gap between the official and parallel naira rates makes it harder to put money into Nigeria, but does not close the door, van der Merwe says. There are still “very strong businesses” that warrant attention. He is not waiting to see what happens in the election and aims to close the investment worth about $17m in an unnamed company at the end of March.
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