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Jan Schalkwijk, CFA

 
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  • Nigeria's Perfect Storm? [View article]
    I am not much of an expert in oil and gas, so I don't have an opinion on Mart. In our portfolios at Africa Capital Group we mostly focus on consumer, financial, infrastructure, i.e. "the domestic economy".
    Nov 5, 2014. 02:10 PM | Likes Like |Link to Comment
  • Weak African Rand Spells Opportunity [View article]
    Portugal Telecom holds a 25% stake in Unitel in Angola, 34% in MTC in Namibia, 40% in CVT in Cape Verde, and 51% stake in CST in Sao Tome.
    Aug 8, 2013. 12:13 PM | 1 Like Like |Link to Comment
  • Rent This EV Stock And Enjoy The Ride, But Don't Keep It Too Long [View article]
    "The only compliment I have received from my critics – though meant as an insult – was 'the author does not seem entirely certain about his own conclusions' and I hold this compliment most dearly. "- Charles Sanders Peirce, American philosopher, logician, mathematician, and scientist.
    Jun 11, 2013. 12:59 PM | 3 Likes Like |Link to Comment
  • EU, China Solar Talks Fall Apart: What's Next? [View article]
    Europe should play nice. China is a must bigger market for solar going forward than Europe and there are opportunities across the value chain for European companies to participate (though it is not the manufacturing of panels; which will go to the Chinese).
    May 29, 2013. 12:19 PM | Likes Like |Link to Comment
  • Banking On Kenyan Banks - Conservative Ratios And Stellar Growth [View article]
    Political unrest can certainly be a headwind. At some level it is business as usual too though. I think managing in challenging inflation environments is more difficult than managing to political uncertainty, which is more of a constant. That's my anecdotal 2 cents; it would be interesting to run a correlation on banks stock returns and political uncertainty, but it is hard to isolate that factor...
    May 14, 2013. 04:29 PM | 2 Likes Like |Link to Comment
  • Banking On Kenyan Banks - Conservative Ratios And Stellar Growth [View article]
    Thanks H.J. The trends look favorable in the Kenyan banking sector. Valuations reflect that, but for long-term investors I think the entry point is still reasonable. Perhaps initiating a partial position and waiting for some unfavorable macro news makes sense.
    May 13, 2013. 05:02 PM | 2 Likes Like |Link to Comment
  • Western Wind & Brookfield: Time To Declare Victory And Go Home [View article]
    He has unlimited funds to sue you...wow. Certainly wouldn't want to be long and avail him of said unlimited funds. Way to go Tom!
    Feb 15, 2013. 03:10 PM | 3 Likes Like |Link to Comment
  • The World Bank's IFC Investment Arm In Emerging And Frontier Markets: What We Can Learn [View article]
    Very insightful interview Jon. Thanks for doing this. Any IFC contacts you might have for me in Kenya? I will be going there in March.
    Jan 24, 2013. 07:30 PM | 5 Likes Like |Link to Comment
  • Do Africa Funds Provide Access To African Growth? [View article]
    Thanks Jon. I look forward to reading the blog posts!
    Dec 24, 2012. 02:40 PM | 1 Like Like |Link to Comment
  • Do Africa Funds Provide Access To African Growth? [View article]
    I appreciate your comments. Market Vectors Africa Index ETF (AFK) probably comes closest in terms of having meaningful sub-Saharan Africa (SSA) exposure. Its SSA weight excluding Mining, and Oil is 43%. Note that if you also exclude South Africa, you are down to 21% exposure with that fund. Unfortunately, its consumer weight is only about 8%. Most of the fund's non-natural resource assets are tied up in Financial Services (40%) and Telcos (16%). To truly capture the consumer space for US investors one would have to supplement any ETF exposure with individual stocks.
    Dec 24, 2012. 02:37 PM | 2 Likes Like |Link to Comment
  • Do Africa Funds Provide Access To African Growth? [View article]
    Thanks Jon, keep us apprised of your coverage!
    Dec 13, 2012. 01:11 PM | 1 Like Like |Link to Comment
  • Can They Spare A Penny A Click For International Coverage? [View instapost]
    Jon, SA is a great platform and it would make total sense for them to expand their emerging market and frontier coverage well beyond the realm of ETFs. I support you in your efforts and wish you good luck.
    Nov 16, 2012. 12:16 PM | 5 Likes Like |Link to Comment
  • The Case For Investing In Africa [View article]
    Agreeing with @mickelsson that Africa is not one place and neither the "good" nor the "bad" applies uniformly to all 54 countries that comprise the continent. To the extent that "Africa" is an instant-gratification society pursuing the happy life, I don't think they have a lock on that. With the exception of possibly parts of Asia, I think instant-gratification is fairly well entrenched globally. In the African case, that should bode well for consumer stocks as people are eager to spend their new found disposable income.
    Nov 9, 2012. 12:10 PM | 1 Like Like |Link to Comment
  • South Africa: A Glass Half Empty Or Half Full? [View article]
    @adammac, agreeing with you re: Ghana. There are some interesting companies there and social cohesion is a plus indeed. Liquidity can be difficult.
    @ambiorix and @winningtrader, you make a good case for "the glass half empty." I think RSA has some serious headwinds that if left unchecked could dampen economic growth, not to speak of the potential damage to the fragile social fabric of society. A bottom up strategy looking at individual companies that have more exposure to the upside like retailers with cross border expansion for example (careful, some are getting expensive) vs. a broad macro play on RSA makes the most sense. I think extractive industries are most at risk from the social and political issues in RSA and I am staying away from those.
    @ mickelsson, yes I am in complete agreement. RSA stocks are not without risk and are not a replacement for US "dividend champions." They are emerging market stocks and some have interesting opportunities. If you take the time to dig through he universe you might unearth some gems. I also don't think putting all your Africa exposure in RSA is wise. International diversification works and should be pursued, especially in emerging and frontier markets.
    Oct 8, 2012. 11:39 AM | 3 Likes Like |Link to Comment
  • The Case For Investing In South Africa (Part II) [View article]
    That's a tall order you are giving me alpine! I appreciate your comments and they get us closer to a well rounded perspective. Keep them coming.
    Jan
    Oct 4, 2012. 08:54 PM | Likes Like |Link to Comment
COMMENTS STATS
21 Comments
24 Likes