Custody Risk Summer 2014
Nigeria may now be the continent's largest economy but it still lags South Africa in key areas
The importance of emerging African markets was underscored in April when Nigeria leapfrogged South Africa to become the continent’s largest economy. Using rebased figures, Nigeria’s GDP in 2013 was revised upwards from 42 trillion naira to 80 trillion naira ($510 billion), a 90% increase that means its national output now easily surpasses South Africa’s $370 billion.
The news appears to bode well for the evolution of derivatives exchanges across Africa, which are poised to spring up this year
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