Inroads Into Frontier SSA

Investors seeking exposure to the many compelling growth trends across sub-Saharan Africa (SSA) frequently cite the lack of market depth and liquidity as a key impediment to investment. Indeed, Pictet Asset Management, which recently launched a new Middle East and North Africa fund, has steered clear of the rest of the continent for this reason. The more established markets in SSA - Kenya, Nigeria and South Africa - are fairly easy to access thanks to their relatively well-developed capital markets, but investors looking to gain exposure to more 'frontier' markets such as Ghana, Zambia and Tanzania have a more difficult time.

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