Despite falling commodity prices, several stocks in Africa share high-growth characteristics, according to a report by David Saito-Chung in Investors.com.

The bad news in South Africa’s economy isn’t showing up in equities, Bloomberg reports.

Initial public offerings are at an eight-year high in South Africa, with companies bringing the most IPOs to the Johannesburg Stock Exchange since 2007. The value of deals rose to the highest since 2010, according to data compiled by Bloomberg. October saw a resurgence following a third quarter in which there were no IPOs at all, emulating other emerging markets after a rout in global equities and commodities, Bloomberg said.

The Nairobi exchange is having an awful 2015 amid a commoditywide bear market, according to Investors.com. The 20-stock benchmark index is down 22 percent since Jan. 1 through Monday.

But Bamburi Cement is bucking the decline with a 9 percent year-to-date gain, according to the global stock database in William O’Neil + Co.’s WONDA service for institutional investors.

The building material supplier boosted sales by 6 percent in 2014 and earnings per share by 3 percent.

Nigeria is Africa’s largest economy, according to the CIA’s World Factbook. The country’s All Share Index is down 13 percent since Jan. 1, Investors.com reports. Forte Oil, formerly African Petroleum, is up 40 percent year to date. Analysts forecast that full-year profit will be up 115 percent this year and up 191 percent in 2016.

South Africa, the No. 2 economy, has struggled amid depressed gold prices. TheiShares MSCI South Africa ETF is down 11 percent since Jan. 1.

But PSG, Internet company Naspers, packaging firm Mpact and retailing giant Pick N Pay Stores show gains of 15 percent to 90 percent.

Read more at Investors.com.