Carolyn Cohn, Reuters: 'AFRICA INVESTMENT-Heights, but not dizzy ones, for sub-Saharan stocks in 2014' (No doubt some of the same financial experts that brought us the housing bubble; It is not hard to have a rapidly growing middle class when you start with a microscopic middle class; 'Fastest-growing continent' translates to 'most horrifyingly overpopulating.'

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AFRICA INVESTMENT-Heights, but not dizzy ones, for sub-Saharan stocks in 2014

* MSCI Africa index up 60 pct over past 2 years

* Gains seen this year, but muted

* Investors need to look beyond Kenya, Nigeria

By Carolyn Cohn

LONDON, Jan 9 (Reuters) - A two-year rally in frontier African stocks, which has withstood the Nairobi shopping mall attack, violence in the Central African Republic and fighting in South Sudan, is showing signs of fatigue, pointing to muted gains this year.

The MSCI Africa index, which excludes South Africa but includes three North Africanmarkets, has risen more than 60 percent over the past two years as investors sought plays on the rising purchasing power of middle class consumers in the world's fastest-growing continent. . . .

http://www.reuters.com/article/2014/01/09/africa-investment-idUSL6N0KJ26W20140109