Boom Town Baby: African stock markets see gains

NAIROBI, Kenya (AP) — African financial analysts say the continent's economies are growing quickly and offer excellent investment opportunities.

Aly-Khan Satchu, a Kenya-based financial manager, says there is a growing sentiment among investors: If you're not investing in Africa, you should be.

Or as Satchu is prone to say on Twitter: "ITS BOOM TOWN BABY."

Several African stock markets are seeing huge returns this year. Ghana is up 50 percent. Kenya and Nigeria are up 35 percent.

Satchu said that global investors used to put their money into Africa in the continent's north — the Arab rim — and the south — South Africa. But now the money is also going to the continent's middle. When Rwanda offered $400 million in 10-year dollar-denominated bonds last month, demand was more than eight times over supply.

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