With a bigger landmass and a larger consumer population than India, China, the U.S., and Europe combined, Africa had attracted the attention of most international investors by the early 2000s. Recently, the "Africa Rising" narrative has been challenged by volatile commodity prices, the slowdown in China, and the potential hike in U.S. interest rates. Yet Africa continues to benefit from favorable demographics, a rising middle class, high rates of urbanization, and an improved business environment across the continent. Beyond the headlines, what opportunities do Africa's promising retail and technology sectors offer fund investors? Where else should they look?