I started a very small position in (AFK: 36.31 -0.27%) @ $41.89 (11:46 ET).

This is the new Market Vectors Africa Index Fund, the first ETF to focus on the African markets. It’s the next emerging market to take off, imo. I took a position in it, so now I have to follow it.

The political climate in Africa is improving, but remains fragile. The largest economies are South Africa, Egypt, Algeria and Libya, which account for 62% of economic activity on the continent. I’m hearing about more investments in the infrastructure in a number of the countries, which is a precursor to growth.

(AFK: 36.31 -0.27%) tracks an index of stocks from eleven African countries. Stocks related to  South Africa, Nigeria, Egypt and Morocco account for 81% of the fund. I say “related to” because many of the companies in the index aren’t actually based in those countries, but derive a significant portion of their revenues from the region.

Sector exposure is in banks, basic materials and resources and oil & gas.

Disclaimer: This is not intended to be investment advice. Due [sic] your own due diligence and trade at your own risk. Know that if you buy AFK without checking it out, baboons will invade your cornfield and you might be de-banked.