Smaller companies in emerging markets appear poised to potentially benefit amid more market-friendly reforms that break down barriers to entry and inspire entrepreneurship. Additionally, since small-cap companies are driven primarily by domestic demand, the recent drop in oil prices could be an added boon to these companies.
We believe the availability of reliable power could sustain dynamic economic growth rates across Africa, potentially enriching the population and creating markets for new consumer businesses.
We are enthusiastic about the potential of new technology to accelerate growth trends, with some Internet and mobile communications-based technologies in particular offering less developed countries the opportunity to potentially leapfrog generations of economic change in more mature markets and move directly to efficient modern systems.
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