Africa's renaissance?

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AfricaAs of recent, Sub-Saharan countries are generating growing interest from hedge and private equity funds. In London alone investors raised over $2 billion to invest in local firms. Though many view African markets as too small and illiquid, others buy African equity - because of its low correlation with the rest of the world - to spread their portfolio risk.

The region still trails behind the rest of the world on the ease of doing business ranking. But investors such as Mr. Tsega Gebreyes - a manager with Satya, a private equity fund – notice a shift in the business climate:

In the past, when people talked about an African renaissance, it was largely about politics. This time what is encouraging is that it is being led by the private sector, and by capital flows.

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