Despite being one of the fastest-growing regions in the world, with six percent real GDP growth per annum since 2001, Sub-Saharan Africa continues to be one of the least penetrated areas for investment, notes a new report on the region just out from Morgan Stanley Research.

"Sub-Saharan Africa: An Equity Guide" offers a look inside the region that is trending towards increasing economic liberalization and integration into the global economy, as well as improving its economic and institutional capabilities.

The 128-page report looks chiefly at four issues:

• The Global Emerging Markets Strategy team, led by Head of Global Emerging Market Strategy Jonathan Garner, and dedicated local economists, led by Chief Africa Economist Michael Kafe, provide the macro context on the region and the major investable countries.
• Analysts from across EMEA look at industries and trends therein that they see as critical for the region — from microfinance to natural resources.
• Using the Open Research approach, the report offers summary of analyst views on roughly 50 South African and SSA stocks and international stocks with material exposure to the region, with detailed bull and bear scenarios to complement a central base case.
• Global Emerging Market Strategist Michael Wang and Pankaj Mataney close the report by providing background information on the region's larger stock exchanges.

"Sub-Saharan Africa represents the vast and complex heart of the African continent," writes Rupert Jones, Director of Research, in his introduction. "It is probably not the last frontier, but it's certainly the latest, and presents fascinating opportunities for mainstream investing."

Customers may access this research at www.morganstanley.com/equityresearch, by calling 800-624-2063 or by contacting your Morgan Stanley representative.