Strategy: Nigeria's GTBank makes the list of 12 global companies to watch in developing markets

Nigeria's GTBank made the headline with its digital banking services and the only financial institution from Africa on the list.

Nigeria's Guaranty Trust Bank (GTBank), has made the list of 12 global companies to watch out in developing markets, according to a report by the Economist Intelligence Unit.

The report titled, “Going global: 12 companies to watch in developing markets,” examined six industries which include automotive, consumer goods, energy, financial services, healthcare and telecommunications.

According to the report, Latin America, the Middle East and Africa, and Sub-Saharan Africa economies will register strong gains benefiting from the ongoing trade war between the US and China.

The Economist Intelligence Unit projected global trade growth to decelerate to 3.7% in 2019, from 5.3% in 2017, causing economic growth to slow in the US and Europe.

In the 12 local companies making wave across developing markets, Nigeria's GTBank made the headline with its digital banking services and the only financial institution from Sub-Saharan Africa and across the continent.

 

According to EIU, despite Gtbank's profitability in its finest digital banking services, the bank, unlike others, is exposed to risks posed by volatile oil prices and the weak Nigerian economy, which leads to high bad loans for banks.

Here are the 12 companies to watch in developing markets:

1. Nigeria's GTBank

2. Russia's Kamaz truck maker

3. Chinese automaker, JAC Motors

4. Mexican multinational bakery, Grupo Bimbo

5. UAE-based Majid Al-Futtaim

6. India's crude oil firm, ONGC

7. Russian state-owned Rosatom

8. Malaysia’s CIMB

9. Indonesian healthcare firm, Kalbe Farma

10. Brazilian healthcare provider, Notre Dame Intermedica

11. Qatari company Ooredoo

12. Brazilian telecoms company, Algar Telecom

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