In 2010, the football world cup will take place on African soil for the first time. By selecting South Africa as the host nation, the world football association FIFA demonstrates that Africa, the continent of opportunity, is on the rise.

For several years now, an increasing number of African countries have enjoyed political stability and continuous economic growth. On average, annual sub-Saharan economic growth has averaged over 5% since 2000, making this the most successful period of growth during the past 40 years by a significant margin. Although the continent, which is rich in natural resources, will not be able to completely avoid the current global economic crisis, the OECD predicts that Africa is in a better position to face such crises now than it was in the past because of the economic and political reforms that have taken place.

More and more African governments have recognised that improved structural conditions and a functioning infrastructure, for example in terms of power supply, are fundamental for sustainable economic growth, and have introduced corresponding economic reforms and initiatives. German expertise as well as German products can provide a major contribution to the practical realisation of these. In Nigeria, for example, several companies are involved in developing the local capacity of power generation within the framework of the “German-Nigerian Energy Partnership” which was set up in 2008.

Alongside opportunities in the energy sector, there are also good possibilities for the German industry to make an impact in the areas of transport infrastructure, residential construction and healthcare. According to the World Bank, sub-Saharan Africa alone will require healthcare facilities worth between 25 billion and 30 billion US dollars over the next ten years.

The conclusion of economic partnership agreements between the European Union and African countries has also contributed to deepening economic ties between Germany and Africa. At the same time, regional integration in Africa is moving forward. The SADC free trade zone came into force on 1. August 2008, and thereby created a more attractive market for foreign companies. The free trade zone can give an important boost to further integration in that region.

I wish all entrepreneurs every success in the realisation of new business ideas in Africa, and I am sure that the Business Guide Germany Africa 2009/2010 will prove to be an excellent directory.