JOHANNESBURG, (Reuters) – Africa’s strong growth  will continue at a rapid pace and investors and business can not  afford to ignore the continent’s potential which goes far beyond  commodities, according to a McKinsey Global Institute study.

The study released yesterday by MGI, the economics research  arm of consultancy firm McKinsey, said Africa’s GDP grew by 4.9  percent between 2000 and 2008, making it the third fastest  growing region in the world.

In 2008, the continent’s combined GDP was $1.6 trillion and  this could increase by a trillion dollars in the next 10 years.

“We find that Africa’s economic growth surge was widespread  across countries and sectors and that its roots extend far  beyond the global commodity boom,” the study said.

Natural resources only directly accounted for 24 percent of  Africa’s combined GDP from 2000 to 2008 and GDP grew at a  similar rate in big mineral exporting countries than in  countries without resource exports.

“While there remain risks to growth in any individual  country, our analysis suggests that the continent’s long-term  growth prospects are quite strong,” the study said.

Future growth will continue to be boosted by global demand  for commodities while the continent’s ability to create new  types of partnerships with foreign investors and increased  access to international capital will also lift growth.