2020 was an excellent year for Twiga despite the global pandemic throwing sand in the gears of economies in much of the world.
NMBs earnings grew 31% in the first quarter, but the stock trades at just 3.3x projected earnings, and on a 10.8% indicative dividend yield – needless to say, I’ve been buying. A lot. It’s now African Lions Fund’s biggest holding.
I just flew to Dubai from Dar es Salaam last week with my wife and two young kids in tow. The busiest airport in the world seems to be regaining some of the 70% drop in passenger numbers it suffered last year.
To most of the world, Rwanda is seen as a success story in its handling of the coronavirus pandemic.
One of the major reasons I’m bullish on the long-term economic prospects and investment opportunities in African stocks is the continent’s favourable demographics.