A $5 million equity investment by Norway’s sovereign wealth fund, the Government Pension Fund Global (GPFG), into BUA Cement is scarcely feasible on the Nigerian Exchange (NGX). This is because, when adjusted for its free float, BUA Cement’s market capitalization stands at just $41.3 million.
GPFG, which holds approximately 1.5% of the world’s total equities, amounting to around $1.38 trillion, is invested across 45 equity markets, including four in Africa: South Africa, Egypt, Kenya, and Morocco. However, a single