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HOPE REIGNS ETERNAL for the small but growing band of investors that have bet heavily on Africa. These diehards of the fund management community have taken their blows but are still standing. Recently investors in Egypt and Tunisia were hit by the Arab Spring. Fund managers in Côte d’Ivoire were confined to their hotels while war raged around them. Investors in Zimbabwe regularly get abused by Robert Mugabe. Those committed to the Kenyan stock exchange face growing political risk.
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