Via The Timbuktu Chronicles, a reminder that investors should consider all of Africa when looking at the continent for opportunities.  As the report notes:

“…All told, South Africans have plowed more than $8.5 billion into the Sub-Saharan region, the U.N. estimates, making the country the biggest investor there. Ever since South African Breweries pioneered the African beer market—and then went on to become the global titan known as SABMiller—South African companies have led the way on risky turf. Johannesburg cellular provider MTN was one of a handful of companies to defy conventional wisdom and prove that Africa could be a huge market for mobile phones…

…Whereas the focus is on S.Africa and its firms, there are other gutsy firms out there… north of S.Africa. Equity Bank (Kenya) are in Uganda and S.Sudan & has grown micro-finance lending exponentially. I&M Bank (Kenya) purchased 50% of a struggling Mauritian bank. Many Nigerian banks have expanded across Africa including UBA Ecobank (a pan-W.African bank) headquartered in Togo is competing all across Africa. East African Breweries (Kenya) dominates the E.African beer market (& beat back SABMiller’s foray in Kenya & Uganda) Kenya Airways is SSA’s pre-dominant carrier. Unlike S.African & Ethiopian Airlines, KQ is privately owned & listed on the NSE & USE. Bakhresa Foods/Millers are dominant in Tanzania and Uganda. Dangote’s firms (Nigeria) is mulling regional expansion. Mabati Rolling Mills of Kenya caters to E,C and S.Africa. Safal Group (headquartered in Mauritius for tax purposes) is in 15 African countries. ScanGroup of Kenya is expanding to Central & West Africa. Olympia Capital (Kenya & Botswana) has various interests in S.Africa.”