Africa is now recognized as a growth market, with the last 10 years marked by the persistent entrance of international organisations.

This has led to the creation of infrastructure and technology, which now enables transaction of modern business, Economist Corporate Network’s Africa Business Group meeting in Nairobi was told.

Economist Corporate Network commercial director in charge of Central Europe, Middle East and Africa, Mr. Will Wilkinson, said that there is unofficial corporate network at work with companies watching each other very closely.

The Africa Business Group is a new product from the Economist Corporate Network created for senior executives with strategic responsibilities for Africa and reflects an increasing realization by many multinationals that they need to increase their strategic presence ion African markets.

The cost of doing business in Africa is still very high, so organisations are pooling human, financial and technological resources to create a cost-effective operational base for all the parties. As with all other Economist Corporate Network activities, the Africa Business Group is membership-based, offering a uniquely independent business service that helps members understand market potential and make smarter business decisions faster.

At the heart of the service is data tool that gives members access to comprehensive data and forecasts for 26 key markets in Africa.