Investing's Final Frontier?

Roma Luciw reports:

According to Merrill Lynch chief investment strategist Richard Bernstein, Africa presents investors with both “tremendous potential” and “tremendous risk.” In the next decade, he believes it should above all provide them with opportunity.
“Traditionally Africa has not been a place where more risk-oriented emerging market investors would invest, but that is changing,” Mr. Bernstein said in a report. “Investors in search of higher returns have increased their risk tolerances and have begun to search for greater returns from so-called frontier markets.”
Africa's economic expansion has exceeded global growth and is expected to continue to do so in the coming years. The continent may be on the cusp of an “unprecedented stage of economic development,” one that will benefit 100 companies in more than 20 countries, he said.