Lim Su-gyun and Lee Byung-wha, the analysts with Samsung Securities and the report's co-authors, said, "As the emerging economies represented by the BRICs show lackluster performances for the past several years, attention is turning toward the frontier markets that have exhibited exceptional growth trends." "Since the mid-2000s when most African nations moved toward a more stable political milieu, major African economies have grown in a spectacular fashion. The demography with a mostly young population is also a favorable condition for the continent," the authors added.

 

Of the companies the report recommended, Suprema has recently signed a contract to supply fingerprint scanners to a Nigerian company. KT has won an order to build wireless Internet networks including an LTE network while Skylife is preparing a new service combining different offerings. Korea Gas Corp., meanwhile, is busy developing gas wells in Mozambique.

 

As for Samsung Electronics, the report said, it is steadily gaining the market share in home appliances. Hyundai Motor and Kia Motors have a combined market share of 45 percent in Ghana. Seoul Semiconductor has secured local sales agencies in South Africa for its LED products, the report said.