5 Best African Stocks to Buy Now

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1. Kosmos Energy Ltd. (NYSE:KOS)

Number of Hedge Fund Holders: 30

Kosmos Energy Ltd. (NYSE:KOS) is a Dallas, Texas-based crude oil and natural gas exploration and production (E&P) company. The company is a player in the offshore E&P business.

Kosmos Energy Ltd.’s (NYSE:KOS) share price increased by 104.5% over the previous 12 months. The company posted strong Q3 results as it benefited from rising energy prices and demand over the last year. Since the conflict between Russia and Ukraine started in late February 2022, crude oil and natural gas prices have remained considerably high.

In Africa, Kosmos Energy Ltd. (NYSE:KOS) has a presence in Equatorial Guinea, Ghana, and Senegal. There is a huge energy market in Africa as 600 million people in sub-Saharan Africa still do not have access to electricity, and 900 million do not have access to clean cooking fuels as of 2022. Furthermore, between 2019 and 2021, the region’s access to energy declined by 4%. Kosmos Energy Ltd. (NYSE:KOS) targets to increase production by 50% by the end of 2024 to meet the unmet energy demand. The company’s strong growth potential justifies its inclusion in the list of the best African stocks to buy.

Follow Kosmos Energy Ltd. (NYSE:KOS)

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