Mahindra Group chairman and managing director Anand Mahindra has expressed confidence in doing business in South Africa and in the African continent.

"The fact that we are holding this very important corporate conference in Cape Town signifies the importance with which the Mahindra Group views the business potential of the African continent", Mahindra said at the two-day Blue Chip conference attended by delegates from across the globe.

"I am encouraging the various divisions of the group to evaluate business opportunities on this continent. This is a region already recording significant economic growth, with huge promise for the future as it develops," Mahindra added.

One of the key speakers at the Blue Chip conference was well known African entrepreneur, Ashish Thakkar, who spoke on the topic "Africa Will Lead the Way".

Thakkar, who is of Indian origin, said that Africa was poised for huge growth in the coming years, thanks to favourable demographics and an investor friendly attitude.

Mahindra is entrenched in the South Africa automotive, information technology and aerospace industries, while many of the Mahindra Group companies are already very active in business ventures in various African countries in the agribusiness, aerospace, components, consulting services, defence, energy, etc.