The Dow Jones Africa Titans 50 Index has just debuted, and Van Eck Global will issue the first ETF to follow the pan-African index. The Market Watch article explains that the new index is made up of 50 companies either headquartered in Africa or that produce more than half of their revenues within the continent. To be eligible for the index, companies must have at least $200 million of market capitalization and a three-month average daily trading volume of $1 million. In an effort to maintain diversity, Market Watch points out that the weight of any country is capped at 25% and there is a limit of 15 companies per country. Finally, the industries most heavily represented within the index are Basic Resources, Banking, and Oil & Gas. Michael A. Petronella, president of Dow Jones Index, contributes by saying, "It was important for us to develop an investable index that gives true exposure to the African region and is open to all African countries that qualify for it. This is the first pure African index to be used as underlying for an ETF.”

Van Eck Global has developed an ETF to follow the Dow Jones Africa Titans 50 Index. The Market Watch article identifies the fund as Market Vectors Africa Index ETF (AFK), which is set to begin trading on the NYSE July 14, 2008. AFK will be providing investors exposure to numerous markets associated with Africa, including Angola, Kenya, and Nigeria.