BUSINESS
7 Areas to Start a Money-Making Lucrative Business in Africa
You want to make money and be wealthy in Africa, look at the ideas to add value to people’s lives. Think about solving Africa’s challenges and the rest will history. Look around you, what are people complaining about? What affects you or your family on a day to day basis, fix it and get paid.
1. Food
Humans require food to survive. It is a basic everyday necessity that one cant do without. Africa has over 1 billion people who have to eat everyday. You will agree with me that is a lot of mouths to feed. The demand for food and food products in Africa is very huge.
Did you know that 60% of the world’s fertile and uncultivated land is in Africa?
Did you know that Africa still spends billions of dollars every year on food imports from abroad?
Cheap land, abundant labour and favourable climate for agriculture, Africa has the potential to feed the whole world with:
Grains(rice, corn, wheat etc.)
Roots and tubers (cassava, potatoes and yams)
Livestock Na poultry (cattle, pigs, sheep, goats, chickens and more)
Edible oils (soybean oil, palm oil etc)
more about business in Africa here
2. Electricity
Did you know that all the 48 countries of sub-Saharan Africa combined (with a population of more than 750 million people) generate roughly the same amount of electricity as Spain ( a single country of less than 50 million people)?
Hur? now that is crazy, come on Africa get this sorted.
Africa’s demand for electricity is huge and growing like never before.
Why?
Growing urban population
Africans need to charge their mobile phones.There are now over 650 million phones on the continent, yeh! that’s right 60 million and counting.
Lighting for homes and businesses
Power for electrical appliances
What are the opportunities in Africa’s electricity challenge?
Solar power and other new technologies: With over 300 days of bright sunlight every year, solar power remains one of Africa’s most abundant but scarcely used resources.
Inspiring story…
Patrick Ngowi – is a young Tanzanian who has made over $8 million from his solar business.He sells and installs solar water heaters, solar batteries, solar mini-generators, street lights, power back-up systems, accessories, solar fridges and freezers across East Africa.
3. Education
Did you Know?
Over 50% of Africans are less than 25 years old, making it one of the world’s youngest populations.
Africans are desperate for quality education and even poor parents are willing to pay a premium to educate their kids.
Where are the opportunities in Africa’s education Challenge?
Primary and secondary education
University education
Professional training and certification (IT, services etc).
Vocational training ( Technicians, Artisans etc).
Personal development training
Corporate sponsored training
Inspiring stories…
Omega schools in Ghana is a private fast-growing primary school chain that charges $1.00 per day school fees.
Bridge international schools is a profitable private school chain that operates a flexible low cost education model across East Africa.
4. Waste
Did you know?
Africans generate over 70 million tonnes of waste every year.
The waste collection, disposal and recycling industry is a multi- billion dollar business in developed countries.
Inspiring Success story…
Lorna Rutto left her bank job in 2009 to start a plastic recycling business in Nairobi, Kenya. Since then, she has made over $250, 000 in sales, created over 500 jobs and removed more than 1000 tonnes of plastic waste from the environment….
5. Transport
Did you know?
Due to increased urbanisation and economic activities, over 500 million Africans need reliable transportation everyday to get to work, school, market etc.
Africans in the city spend upto 30% of their income on transportation alone.
Where are the opportunities in Africa’s transportation challenges?
Vehicle sales, maintenance and repair services
Professional car hire services
Inter and intra city bus transport services
Water, air and rail transport
6. Shelter
Did you know?
With over 1 billion people and one of the world’s fastest growing populations, Africa will need more than 100 million new homes to avoid a housing crisis in the coming years.
Where are the opportunities in Africa’s shelter challenges?
Buildings and construction materials (cement etc).
Real estate investments
Residential and office accommodation.
Hotel and travel lodges
7. Unemployment
Did you know?
Although 6 of the top 10 fastest growing economies in the world are in Africa, the continent still has one of the highest unemployment rates on earth.
The lack of structure in Africa’s job market is responsible for up to 50% of the problem.
Inspiring Success story…
Jobberman.com is Nigeria’s number 1 job search and recruitment portal. Started by three university undergrads in 2009, the portal has helped millions of people find jobs in a market where more than 40 million people are unemployed.
The bottom line…
If you want to become wealthy in Africa, you will have to find the serious challenges Africa has and FIX them.
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