Old Mutual’s Cavan Osborne says the issue of currencies is not a big risk as many people perceive it to be when investing into the continent.

“The currencies that are reasonably stable are either pegged to the euro such as Morocco, Tunisia and Mauritius while East and West African economies tends to follow what goes on with the US dollar,” Osborne the African equities manager told CNBC Africa.

He further said that most of the currencies over the last 15 years had depreciated one or two per cent with a few exceptions.

(READ MORE: S.Africa’s rand firmer as global risk appetite rises)

Osborne however noted that the current big concern currency was the Ghanaian cedi as it has immensely depreciated.

The equities manager added that liquidity was a significant issue that needed attention to allay investor concerns.

“South Africa trades in excess of one billion US dollars a day with the rest of the continent trading about 100 million dollars a day with Egypt dominating the rest,” he said.

Osborne told CNBC Africa that there was often disconnect between a GDP growth numbers with what actually happens on underlying companies listed on the stock exchange.

He said there were a number of countries where the stock exchange was very small with an example of Egypt were the ratio between the stock exchange value and the GDP is around 10 per cent.

(READ MORE: Egypt business activity shrinks in May: PMI)

The regional economies could easily be ranked as the most resilient when compared to other global economies factoring their ability to withstand the 2009 global recession.

Apart from Asia, Africa is the only continent that grew positively with about two per cent in the middle of a global meltdown.