Menu

Renaissance Capital, a Russian investment bank, announced today that it has launched a Consumer Price Tracker to collate and compare prices of major consumer brands in Lagos.

The tracker will compare retail products from brands owned by consumer goods companies, including Nestle Nigeria, Unilever Nigeria, Cadbury Nigeria, others. The products will be in retail segments such as food, healthcare, etc.

“We have been advising investors in Nigeria and the rest of Sub-Saharan Africa for close to a decade and have built and grown our team of experienced analysts and economists who provide reliable and useful analysis that encourage investments in the region,” said Temi Popoola, the CEO of Rencap Nigeria.

“We are seeing green shoots emerge in the Nigerian economy and our Consumer Price Tracker comes at a much needed time to contribute in maintaining the momentum as Nigeria regains its position as the leading economy in Africa.”

The tracker has been designed to furnish investors, analysts, government and businesses with insight and data to make more informed investment decisions. It will also provide information useful in evaluating the impact of economic changes on the pricing of consumer goods – measuring price differences and similarities between competing brands – and tracking the country’s inflation rate.

Some of the findings of the latest tracker shows that Nestle’s Maggi is still priced at a discount to Unilever’s Knorr seasoning cubes despite recent price increases. On comparative pricing, however, Nestle’s Milo was priced 3 percent higher than Cadbury’s Bournvita in the same stock keeping unit (SKU).

“Our consumer tracker is our way of bridging the information gap that some researchers, analysts and investors have experienced in the past,” said Adedayo Ayeni, Rencap’s Consumer & Retail Analyst, Sub-Saharan Africa. “We are confident about our new product and its reliability in providing useful insights that will not only engender more informed investment decisions but will also highlight gaps in the consumer sector that must be closed.”