It is a good week for the performance of African markets with most of the markets closing on a positive note.

A very very very quiet beginning of the year on African markets… I wonder how long it will last. Starting the year like we ended it somehow with the MASI and the EGX30 at the top of the performance.

One word came to mind to describe African markets this year: rollercoaster. From currency fluctuations, to commodity prices volatility and weaker growth than expected, you name it… Investors have had to tighten their seatbelts more than once only for some to discover that the landing would take more time than anticipated and would require some additional refuelling stops. Yet, from our point of view the investment case for Africa has not really changed. The fundamentals such as the booming demographics are still intact, however clouded by short-term macroeconomic challenges. This calls for a toned look at the individual markets constituting African markets.