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. The surge cut across nations and sectors. By 2009, Africa’s collective GDP of $1.6 trillion was roughly equal to Brazil’s or Russia’s. The continent is among the fastest-expanding economic regions today. In fact, Africa and Asia (excluding Japan) were the only continents that grew during the recent global recession. Though Africa’s growth rate slowed to 2% in 2009, it bounced back to nearly 5% in 2010, and in 2011 it is likely to touch 5.2%.
READ MORE AT: http://hbr.org/2011/05/the-globe-cracking-the-next-growth-market-africa/ar/1