Nigeria vs. South Africa: Much to like, much to monitor
Posted on July 12, 2011 at 23:17 PM EDT
Morgan Stanley’s recent note extolling Nigeria’s potential to economically outmaneuver South Africa by 2025 doesn’t strike us as particularly riveting, if for no other reason that the terms of trade/consumption thesis upon which both ‘top down’ pictures presumably rest underpins fundamentals in one (per its 2011 projections Barclays writes that Nigeria’s current account–15.8% of GDP [...]