Africa is currently home to five of the fastest growing economies in the world. According to a global study, the continent's economy is forecast to grow to $2.6 trillion in 2020 from $1.6 trillion in 2008, fuelled by booms in mining, agriculture and development of ports, roads and other infrastructure. This rapid economic growth is what is creating substantial new business opportunities in the region.
Over the past decade, Africa's real GDP grew by 4.7% a year, on average—twice the pace of its growth in the 1980s and 1990s. This growth was observed across all nations and sectors. By 2009, Africa's collective GDP of $1.6 trillion was roughly equal to Brazil's or Russia's, making the continent among the fastest-expanding economic regions in the world today.