How do you perceive commercial opportunities in Africa? If you think the continent has nothing to offer, think again. Many now recognize that much of Africa's economy is vibrant and dynamic with an increasing number of enlightened organizations around the world seeing a potential multi-million dollar market.

Africa deserves to be seen as a continent of opportunity experiencing record growth rates in many categories in a new era of peace, political stability and more economic reform.

A recent report by the Organization for Economic Co-operation and Development (OECD) estimates that Africa's economy grew by 5% in 2005 - an eight year high - and should do even better in 2007. Botswana, Angola and Uganda are the three of the world's top ten fasting growing economies.

A combination of surging commodity prices, improved governance and reduced conflict is changing Africa's fortunes and the outlook is better than ever.

Government is retreating from commerce and enhancing the investment environment for all. The momentum towards privatizations is increasing. In Nigeria, the telecommunications industry is now totally deregulated. Also in Nigeria, consolidation of the banking sector and financial services sector reforms coupled with the pension reforms will begin transforming the long term fund's landscape.

There have been significant fiscal incentives to investors with duty waivers on some imports, generous investments allowances and low and competitive corporate income tax rates across the region.

Foreign direct investment has gone up markedly: $18bn flowed into the region in 2004, three times the annual average rate in the 1990s. African exports have grown 112% and imports have grown 109% over the last five years.

Good returns from Africa's stock exchanges are attracting fund managers. Botswana's stock market has increase 1055% in value over the past 10 years and Kenya's stock market has increased 650% over the past five years.

In its 2005 Country report, the IMF credits Nigeria with the commendable progress in implementing its home grown economic reform programme, which is aimed at accelerating economic growth, reducing poverty and meeting Millennium Development Goals.

With Relatively peaceful conditions in the sub-region, investor should no longer perceive it as a high-risk business environment. Well-run businesses generated returns that far exceeded those on equivalent investments in other markets with similar risk profiles. Most of these are multi-national.