Despite the gloom in the American economy, there are many other countries experiencing unprecedented growth. For instance, which African stock market index is up over +350% over the past five years?

A.) FTSE/JSE Africa Top 40 Index (South Africa)
B.) NSE 20 (Kenya)
C.) MASI Index (Morocco)
D.) Zimbabwe Industrial Index (Zimbabwe)
E.) GSE All-Share Index (Ghana)
Published: May 26, 2008

The correct answer is      (A.)  FTSE/JSE Africa Top 40 Index (South Africa)

Over the past five years, the FTSE/JSE Africa Top 40 Index -- which consists of the largest 40 companies by market value in South Africa -- is up over +350%. This equates to an annualized return of about +35%, making it one of the world's most successful markets for investors. And while the U.S. markets have faltered, thanks to rising commodity prices South African stocks have continued to boom +18% so far in 2008.

South Africa's economy -- the largest in Africa -- is driven by its valuable mining and energy sectors, which account for about 40% of its stock market capitalization. The nation is the world's largest producer of gold and platinum and one of the top producers of coal and diamonds. It's also rich in copper, iron ore, and uranium, among other metals experiencing rising demand.

Of course, this means many South African companies are seeing their coffers filled with cash... cash they have decided to dole out to investors in the form of dividends. And anywhere in the world there are dividends, you'll find High-Yield International editor Nick Lanyi.

In the latest issue of his newsletter, Nick offers an in-depth look at the South African market and of one South African company in particular. This little-known firm is yielding a whopping 9.3% -- but trades right here on the NYSE! To learn the name of this stock, and to learn more about the High-Yield International newsletter. Please visit this link.

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