Research & Analysis
Institutional-grade research on Nigerian equities, frontier markets, currencies and global macro.
Shein was once valued at almost $100 billion, putting the fast-fashion retailer in the same conversation as some of the world's largest consumer companies. Its Hong Kong IPO valued it at just $26.5 billion. The business did not collapse. The assumptions behind its valuation did.
ET&A Research · 4 September 2026 · 11 min read
Private credit grew into a multi-trillion-dollar asset class during an unusually favourable period for alternative lending. Rising non-accruals, loan markdowns, refinancing pressure and investor withdrawals are now testing whether the industry's apparent resilience reflected superior underwriting—or simply the absence of a prolonged credit cycle.
ET&A Research · 2 September 2026 · 11 min read
An investable startup needs more than a strong idea. It must combine a clear market opportunity, a credible team, a scalable business model and a realistic path to returns.
ET&A Research · 24 July 2026 · 6 min read
A pitch deck can reveal as much through what it avoids as what it includes. From unrealistic forecasts to unclear business models, certain warning signs can expose deeper weaknesses in an investment opportunity.
ET&A Research · 24 July 2026 · 6 min read