Research & Analysis
Institutional-grade research on Nigerian equities, frontier markets, currencies and global macro.
An IPO can look like an opportunity to invest in a company before everyone else. In reality, the first question should not be whether the business is exciting, but whether the price, financials, ownership structure and incentives make the shares attractive.
ET&A Research · 2 September 2026 · 12 min read
A low price-to-earnings ratio does not automatically mean a stock is cheap, just as a high P/E ratio does not automatically mean it is expensive. The ratio only becomes useful when investors understand what the market is pricing into those earnings.
ET&A Research · 24 August 2026 · 12 min read
A beginner-friendly guide to understanding revenue, costs, margins and profit—and identifying what actually matters when analysing a company.
ET&A Research · 12 August 2026 · 11 min read
A structured method for tracking companies without buying too early
ET&A Research · 11 August 2026 · 11 min read
You do not need to predict the future or discover an unknown company to become a successful investor. Often, the best investment ideas begin by paying closer attention to the businesses, products and services already shaping everyday life.
ET&A Research · 5 August 2026 · 7 min read
Successful companies demonstrate what can work. Failed companies reveal what can go wrong and often provide the more valuable investment lesson. From excessive expansion and unsustainable borrowing to flawed assumptions about customers, corporate failures expose the risks that growth stories can conceal.
ET&A Research · 28 July 2026 · 9 min read
Share prices are driven not just by company performance, but by expectations, valuation, interest rates, sentiment and the balance between buyers and sellers. Understanding these forces explains why good news can send a stock lower, and why weak results can sometimes push it higher.
ET&A Research · 28 July 2026 · 10 min read
Inflation gradually reduces the purchasing power of money, meaning the same amount buys fewer goods and services over time. Understanding why prices rise can help you protect your savings and make better financial decisions.
ET&A Research · 24 July 2026 · 6 min read
Profit can look strong on paper, but cash flow shows whether a business is actually generating the money needed to operate, invest and survive. For investors, it is often the clearest test of financial health.
ET&A Research · 24 July 2026 · 3 min read