Despite the heavy economic toll from the Ebola epidemic, the IMF predicts sub-Saharan Africa's economy will expand by 5.1% this year and 5.8% in 2015. Western investors are now looking to Africa's stock exchanges for high returns. They offer African companies a means to access Western capital in a stable and transparent environment, governed by more defined rules than private investments.
Currently there are 29 exchanges, with two regional, in West and Central Africa. Cote d'Ivoire's BRVM exchange covers eight West African countries, has 37 listed companies with more than half of its volume from international investors.
South Africa is the most developed market, with around 400 companies listed, followed by Egypt and Nigeria, both with around 200.
South Africa is also the largest by market capitalisation, with $836bn. Nigeria follows with $77bn, then Egypt...