
As one of Africa's most politically stable and economically successful countries, Botswana provides an excellent place for investors to make their first foray into the continent.

A few small-cap African stocks posted big returns in 2011. That's all fine and good. But investing is all about predicting future gains - not admiring past ones. Where should investors be looking for stellar performance in 2012? I've been strolling through the Sub-Saharan markets and am putting together a few ideas. Here are a couple intriguing opportunities on the Botswana Stock Exchange.

This guest post is by Michael Abrahams, General Partner of the New Markets Financial Fund, L.P. While Kenya’s safari and ecotours remain more popular, banking tours may soon catch up. I’ve just returned from a self-guided tour of that country’s banks and came away impressed by the innovation, social impact, and profitability of banking the un- and underbanked there. In Nairobi, I met with both commercial banks and non-profit microfinance institutions. The companies included: Equity Bank (EQBNK:KN), a global leader in banking the unbanked...