Dialectic Africa Analyst

Dear Africa Interested Individuals: This article is not scheduled.  My current output is approximately one every quarter as this is a hobby done pro bono.  This was achieved for Q1 2020 with my article sent out on Monday.  I was reviewing WAPCO formally and the more I uncovered, the more I felt it was necessary to put together a quick note.  When I am done, you may never have a quizzical look on your face again as to why a good number of Nigerian companies have price - to - earnings ratios below five (5) and investors barely flinch.     1.  WAPCO has approximately  tripled its outstanding shares in less than two (2) years: 5 .5 billion to 16.1 billion outstanding shares.   2. WAPCO sought and was approved for 2 rights issues in less than two years.  Both rights issues were concluded within fourteen (14) months of each other raising a total of N 220 Billion ($610m).   3.  One board member remains on the board (the only one left) after more than fourteen (14) years as a

Dear Africa Interested Individuals, I looked at the price level of eleven (11) 'visible' stocks on the Nairobi and Nigerian Stock Exchanges on December 31, 2009 and March 20, 2020.  Are the point-to-point prices largely  a reflection of the Corona pandemic, Carefree economic and political leadership, Culpable management of companies or Confused portfolio investors?  I chose the last trading day of 2009 as a starting point, because this was the first full year concluded after the start of the global market collapse in 2008.  I see this as a bottom reference point.   Both markets are doing poorly year-to-date as at March 20, 2020: Kenyan Stock Market index is down 20.1% while the Nigerian Stock Market Index is down 17.3% .  How does the current price level compare to the 'bottom' price reference point of December 31, 2009 for the companies selected across multiple industries?  Before I delve into the selected companies, I will like to state that stock markets t