The FT continues its focus on the fund landscape within the continent:
Signs of a more favourable investment climate are emerging as economies strengthen and diversify, fuelled by the commodity price boom and lower debt levels, currency stability improves and fiscal governance begins to tighten...Many challenges still face the investment community and each country needs to be assessed separately in terms of risk, political instability and economic drivers. Many African countries do not have stock exchanges yet and those that do are largely typical of frontier markets, lacking in liquidity and ease of trading. But their number has grown dramatically in the past few years, as has the number of companies listed.
As yet there is no internationally recognized pan-African index, although this may change as the local stock exchanges grow.
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