Research & Analysis
Institutional-grade research on Nigerian equities, frontier markets, currencies and global macro.
The race to dominate artificial intelligence has triggered an extraordinary expansion of data centres, semiconductors and cloud infrastructure. Demand remains strong today, but the scale and speed of investment raise an important question: is the industry building more capacity than it will ultimately need?
ET&A Research · 30 July 2026
How supply-chain localisation is reshaping manufacturing and capital expenditure
ET&A Research · 28 July 2026
The non-oil sector contributed 96.08% of Nigeria’s real GDP in the first quarter of 2026. Yet the structure of that activity suggests the country has diversified its output more successfully than it has diversified its exports, public finances or sources of productivity.
ET&A Research · 28 July 2026
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
For years, investors favoured companies that could grow without owning factories, infrastructure or large physical assets. But energy constraints, supply-chain insecurity and the AI investment boom are shifting value back towards businesses that build, manufacture and operate the systems on which the modern economy depends.
ET&A Research · 28 July 2026
Distributed solar, battery storage, mini-grids and mobile payments could allow Africa to build a more flexible energy system without waiting for the continent-wide expansion of conventional electricity networks.
ET&A Research · 28 July 2026
Payments built Africa’s fintech industry by solving one of the continent’s most visible financial problems. The next generation of winners, however, will need to use that foundation to provide credit, savings, insurance and the broader financial infrastructure that households and businesses still lack.
ET&A Research · 28 July 2026
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
Amazon may be best known as an online retailer, but its real value increasingly lies in the infrastructure behind it. AWS, advertising and logistics are turning the company into a critical platform for global commerce and the digital economy.
ET&A Research · 28 July 2026
