In the middle of the financial crisis, financial website, “easykobo.com” conducted a one year survey that began in April 2011 and concluded on April 30, 2012. The purpose of the survey was to gather an understanding on the direction of the market sentiment at a time when investors were looking away from the capital market in Nigeria. This survey was designed to find out which sectors of the Nigerian economy appeal most to investors. This information would help the stockbrokers and financial advisors to tailor their investment vehicle products on the lines of what appealed to investors.
Visitors to easykobo.com were asked to vote on the following question. “Where would you rather invest on the NSE?” The visitors were asked to select one of the following five options. (1) Banks, (2) Insurance companies, (3) Oil companies, (4) Conglomerates & (5) Others. People who visited easykobo.com over that period were free to vote on every new visit. Almost 400,000 votes were cast in the period.
At the conclusion of the survey, we discovered a huge interest in financial sector stocks in Nigeria. Banks led the way with 33.62% of votes and Insurance sector received 13.34%of votes. Therefore the total votes for the financial sector carried away 46.96% of votes cast in the survey.
Oil companies received 33.45% of votes as the second most picked option behind the banks. Conglomerates received 14.21% of votes. Lastly the Other sectors received the least amount of votes with 5.37% votes of total votes cast.
We hope that this survey helps investment brokerage houses and financial advisors to understand their target market in a better way. While investors can have an idea of which sectors are likely to be in demand now that the stock market is showing signs of a revival. Our aim at easykobo.com is to enable investors in Nigeria with a finance website that provides them independent and accurate information on stock listed on the Nigerian Stock Exchange, bonds, ETF’s and real estate.
Speaking with CP Africa, Mr. Arjun Markanda, MD of Easykobo.com, explained that www.easykobo.com was set up in Dec 2010 in the middle of the financial crisis. He expressed the company’s intent to bring a fresh approach to investing in the Nigeria capital markets where accurate and up to date information is freely made available to investors so they do not blindly invest in companies and lose their money.
In his words “We have heard the tales of investors who have lost their livelihoods as a result of buying shares without knowing much about the companies or their stock brokers. Now Easykobo.com is available to fill that gaping hole and we will continue to fill that gap.”