Forget MMM: These 5 Stocks made investors rich this year
by PATRICK ATUANYA
December 22, 2016 | 4:26 pm| | | Start Conversation
Nigerians who were bitten by the closed Ponzi scheme called MMM this year could have avoided the angst if they instead invested in these 5 stocks that cut across the upstream oil and gas, food and beverage, Financials and downstream sectors on the Nigerian Stock Exchange (NSE).
The stocks are Dangote Flour Mills Plc, United Capital Plc, NewGold Exchange Traded Fund (ETF), Seplat Petroleum Development Company Ltd and Total Nigeria Plc.
Dangote Flour has increased 252 percent year to date (December 19), United Capital (+119%), NewGold ETF (+95%), Seplat (+92%), and Total (+90%).
Dangote Flour has benefitted from astute management of Africa’s richest man Aliko Dangote, who bought back the company from South African based Tiger Brands.
United Capital Plc has outperformed through solid execution despite investor doubts, while the NewGold ETF has worked as a hedge against rising inflation and the falling naira.
Seplat has rebounded as oil prices rose, while Total plc has also benefitted from reforms of the downstream oil and gas sector and removal of price caps in May.
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