Booming stock markets, bustling city centres, huge reserves of natural resources and soaring economic growth. Welcome to the new Africa. Last week one of Britain's leading asset managers, New Star, became the first to launch a fund that will invest solely in the countries of sub-Saharan Africa outside South Africa.
Poland tops the house-price growth league in Europe, but the runaway global leader is South Africa, where average prices have almost tripled in five years. During the early post-apartheid days, British and German buyers picked up properties along Cape Town's Atlantic seaboard at bargain prices -- and are now sitting on a fortune.