BUSINESS DAY TV: Has SA’s ‘gateway to Africa’ status lulled it into state of complacency?
SVEN Richter is MD of RenAsset Management.BUSINESS DAY TV: Nigeria is set to rebase its GDP (gross domestic product) on Sunday, which is a move to boost its estimated size by anything from around 40%-70% and is almost certain to push the West African country’s economy ahead of South Africa to become the biggest.Nigeria’s GDP only needs to go up by a quarter from a current IMF (International Monetary Fund) 2013 estimate of $292bn to hit that target; but is bigger necessarily better? Joining me on News Leader is Sven Richter, MD of RenAsset Management.Right from the top, talk us through the shift that’s expected to happen here and the rationale because, if it is justified, then you’ve got to ask the question of why Nigeria has taken so long to make the move in the first place?SVEN RICHTER: Nigeria is not the only country that has taken a little longer to make the moves when they should, and really what they should do is every couple of years, have a look at their economy, see which se...
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