The African Economy

Though a large part of the continent still remains away from the effects and influences of modern developments, there are a large number of African countries that contribute significantly to the overall growth of the continent. In countries like Nigeria, Kenya, Egypt and Ethiopia have now become some of the world’s fastest developing nations. Therefore, the economy in the region is also being improved steadily and binary traders are finding it more and more lucrative to trade in African stocks.

The Economic Performance

Online tradingThe developing nations in Africa have been exhibiting some healthy economic signs for quite some time. When the rest of the world was literally gasping for breath amidst an unprecedented economic crisis, the developing countries in Africa managed to hold their ground to a large extent. In fact, the market capitalization of the equities in Nigeria has reached the N10 trillion level which is being regarded by many as the sign of the country’s economic development. The biggest gainer at this point is Unity Bank who added 10 percent to its share price. It is closely followed by Julius Berger that stopped at N46.84 after rising by 9.98 percent. Presco rose by 8.05 percent and UCAN by 5.82 percent to close at N25.50 and N50.00 respectively. AIICO, BOC and Cement Company of Northern Nigeria gained 5.33, 4.97 and 4.97 percent to arrive at N0.79, N6.55 and N9.29 respectively. Eternaoil and Honeywell Flourmills advanced by 4.95 percent and 4.80 percent respectively.

Analysts are Optimist about Africa

Market analysts and binary traders are extremely optimistic about the performance of the African Stocks. They are of the opinion that 2013 is going to be a very good year for African stocks. Apart from exhibiting some minor signs of stress during the global economic debacle, the African economy more or less managed to hold strong throughout the crisis. The crisis is not yet over completely, but the economy in Africa has rebounded with such power that it has immediately become one of the favorite options for binary traders. Moreover, the inflation level has also come down significantly in major African economies like Ethiopia providing further relief to binary traders.

The performance of the African economy was not unexpected. In the last few years several major social and industrial developments have been made in many African nations. Now, it seems that the African stocks are emerging with new potential of becoming stars in the binary trading business.

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