TOP 10 BUSINESS OPPORTUNITIES IN AFRICA THAT WILL MAKE MORE MILLIONAIRES.
Africa economies are growing fast, according to the IMF's recent world economic outlook,
six of the ten world's fastest-growing economies are in Africa,
and by 2050 the continent's economy could quadruple its current size
and be worth up to 29 trillion US$.
According to the current wealth report, there are about 125,000 millionaires living in Africa,
while most of these have come from the extraction of Africa's natural resources
Africa's new wave of entrepreneurs have not come
from the continent's finite resources such as timber, gold, copper, oil, and diamonds
but they have come from a much more valuable resource "Unique Problems".
Africa like other parts of the world has its own issues that strangle its development and require urgent solutions,
solutions to these problems stand as business opportunities that can make an individual acquire vast wealth.
Under no particular order, these are the Top 10 Business Ideas And Opportunities In Africa
That Will Create More Millionaires
Please do not forget to like, and sharing this video with your friends and family.
1} Crowd Farming
Across the world, agriculture is a big business
and most farmers are financially well of
but this is not the case in africa as most farmers are still struggling to survive
According to the United Nations, Africa's agriculture industry is expected to reach 1 trillion US$ by 2030.
However, Africa spends over 30 billion US$ on food imports annually,
a big part of the problem is that
most of the African food is still produced by the small-scale farmers in rural areas.
They are largely poor people who use old farming techniques and have very limited access to capital.
Crowdfarming, pioneered by Nigeria's "FarmCrowdy" comes as a perfect solution to this problem.
The model is being used by young people across the continent
who are interested in agribusiness.
The crowd farming platforms allow users to fund an
Africa farmer's purchase of inputs and make returns at the end of a farm cycle.
The business model is easy for people who live in the urban areas including the diaspora community
to venture in, as it only requires finances and not any other farming skills.
There are several crowd farming success stories in Africa,
for instance; Nigeria's "FarmCrowdy" which is the biggest crowd farming platform in Africa,
guarantees a return on investment of between 11% to 22%,
Agrikaab which operates in Kenya and Somalia
provides a 20% return on investment, Kwidex in Ghana provides a return on investment
of between 12% to 30%, FedGroup in South Africa provides a return on investment of between 10% to 16%
while Cropcrowd which operates in Kenya and Uganda promises a return on investment of about 20%.
Crowd farming is expected to grow more and create more wealthy individuals as
the continent seeks to feed its fast-growing population and African government's aspirations
to secure food security number two drone services in rural areas
2} DRONE SERVICES IN RURAL AREAS.
Transport and Logistics links in Africa remain costly and unreliable in some parts of Africa,
especially in rural areas, but the recent proliferation of drones throughout the
African continent offers a ray of hope to the over 1 billion people living on the continent.
New-unmanned Aerial Vehicle (UAV) technology can potentially solve some of the biggest challenges
facing the region, and be a major catalyst towards a future of prosperity and peace.
Drones can be used to deliver medical supplies, undertaking survey activities,
monitor infrastructure security, monitor livestock on vast spread land, and deliver pesticides
to rural and hard-to-reach areas that are cut off from the main transportation systems
Most african governments are encouraging the use of drones to facilitate these activities,
countries such as Rwanda, Ghana, Kenya, Tanzania, South Africa and Botswana are said to be the
best market for this type of business
while countries with occasional civil conflicts
such as South Sudan, Chad, Niger are also sought after markets but with relatively higher risk.
The drone business is one business opportunity that has the potential to create more millionaires in Africa.
3} Electric Motorbikes For Africa's Urban Centers.
While motorbikes are a common means of transport all over Africa
they are much more desired in African urban metropolis
primary due to the fact that they could easily avoid traffic
and so most people prefer them over other modes of transport.
For instance in Kampala, Uganda
a city of about 2 million people, there are over 300,000 registered and non-registered motorbikes,
and according to the previous studies done: "most motorbikes owners are willing
to shift to the efficient and cost-effective electric motorbikes, if they had access to them".
While motorbikes are common in most parts of Africa, urban metros in African countries
such as Uganda, Nigeria, Rwanda, Egypt, Morocco, Tanzania and Kenya are said to be the most
lucrative markets for this type of business.
This business has a huge potential to create
more millionaires in Africa as there's an already big market that exist on the continent.
4} Real Estate Investment.
African cities become the new home
to over 40,000 people every day, many of whom find themselves without a roof over their heads.
There is a big demand for commercial units, luxury housing units, and a fast-growing demand
of affordable housing.
United Nations defines affordable housing as "housing which is adequate
in quality and location, and does not cost so much that it prohibits its occupants from needing other
basic living costs or threatens their enjoyment of basic human rights".
The market for affordable houses is big in Africa,
and is growing at a fast pace due to its fast-growing population
for instance, in Kenya, the housing demand stands at 2 million units, 17 million units in Nigeria while
South Africa shortage of residential housing stands at 2.3 million units.
In African cities like Dar es Salaam in Tanzania, almost a half a million people move to the city each year,
while over 400,000 people move to Kinshasa DRC each year.
Real estate is one of the major industries that is expected to create more millionaires in Africa
Morocco, South Africa, Kenya, and Angola
are said to be the most lucrative markets for real estate investment in Africa
5} Online Home Delivery Services.
Due to the pandemic, grocery delivery is more
vital than ever as it helps promote social distancing also called physical distancing
by cutting down on trips to the grocery stores, and even without a pandemic
grocery delivery is a convenient option for people with a busy lifestyle, lack easy access to grocery
stores in their vicinity or are sick.
The new trend of contactless delivery has created a unique
opportunity for individuals and companies to provide delivery services in Africa's urban centers.
Revenue in the online food delivery stands at 887 million US$ in South Africa alone,
while the express parcel industry has more than doubled over the last decade.
There is a higher demand of online home delivery services in most African cities
at which small business owners, program developers and logisticians can all take part in this type of business
6} Electronic Gadgets Manufacturing & Supplying.
With nearly 800 million people not connected to the internet
Africa presents a good opportunity for smartphone makers and businessmen.
Africa is the fastest-growing market for mobile phones after Asia
In the first quarter of 2021, Africa mobile phone market grew by 14% as 53.3 million units were sold
this is despite logistics challenges caused by the pandemic
However due to financial constraints most Africans can only afford mid-range to low-end smartphones.
Thanks to the growth of technology, most of these phones in these specific categories
do satisfy the needs of most people, and according to Kenechi Okeleke,
Senior Manager at GSMA intelligence said "in terms of subscriber growth,
large and underpenetrated markets, the Democratic Republic of Congo, Ethiopia,
Tanzania and Nigeria present the biggest opportunities for traders and smartphone makers.
7} Clean Energy Solutions.
Access to electricity is a big problem in many parts of
Africa especially in rural areas, even in big cities some households and businesses depend
primarily on backup power generators that are noisy and produce toxic fumes that contribute
to environmental pollution
Despite Africa's tremendous opportunities, a lot of Africans
have no access to electricity and in some parts where access is available it is not reliable,
for instance, in Nigeria, there are anywhere between 22 million and 60 million petrodiesel generators,
while countries such as South Sudan, Chad, Burundi, Malawi, Central Africa Republic, Burkina Faso,
Niger and the DRC have less than 20% electricity connectivity rate.
With more than 320 days per year of sunshine in most parts, Africa has access to enough solar
potential to even power the entire world with clean renewable and reliable energy.
Africa has almost unlimited potential of solar capacity 10,000 gigawatts, apart from solar energy,
Africa has a big potential for geothermal energy production for instance studies: in
Kenya show that Kenya has the potential to produce 10,000 megawatts of geothermal energy.
Other countries with big potential for geothermal energy production are Tanzania, Ethiopia, Uganda,
Rwanda, Djibouti, Eritrea, and Comoros
while in hydropower energy Africa has the potential to
produce over 350,000 megawatts of electricity with countries such as Ethiopia, the Democratic Republic of Congo,
and Nigeria having the biggest potential.
Most of Africa's energy production potential have
not been met yet and so this is an opportunity for private investors to came in and play their
part in this multi-billion dollar industry
8} Software Development.
Africa has about 700,000 program developers
with more than half coming from Egypt, Kenya, Morocco,Nigeria and South Africa.
This is indeed! a very small number, as Latin America has over 2.1 million software developers,
Europe has over 5.5 million developers, while the U.S alone has over 4.3 million developers.
Digitalization is going on and the need for software developers is getting strong,
with countries such as South Africa Morocco, Kenya Mauritius Ivory Coast, Tanzania and
zimbabwe paying the most in software development
Software Development is
another business opportunity that is expected to create more wealthy individuals in Africa
9} Waste Management
The collection, transportation, treatment and disposal of garbage
sewage, and other waste products and substances; safely and efficiently is the best definition
for waste management.
According to the World Bank, Africa generates nearly 70 million tons of waste
every year and it is expected to double in the coming years as the more individuals income and
spending power increases the more goods, he or she consumes leading to even more waste.
A lot of african cities lack advanced waste management systems,
a few smart entrepreneurs
are turning the huge waste we produce every day into money-making products, but have so far not
yet filled the demand.
Waste management is such a brilliant idea that profits your pockets, and the
environment at the same time; as waste causes pollution diseases and environmental crisis
when it's not properly disposed.
A good number of new millionaires in Africa are expected to
come from individuals who will be able to transform waste into a valuable commodity
that households and businesses can sell for money, and the waste is likely to return to
the food chain, to the electricity grid or in some other recycled form.
10 Healthcare Sector.
To fight disease and save lives in Africa, it is important for
governments to provide health care options to all people,
most African governments are struggling to
provide these services to its people
The pandemic has further increased this, as it disrupted global
supply chains; increasing the burden on health workers, and interrupted continuous care for
non-communicable diseases and treatment of other illnesses
This has created a big opportunity
for individuals with finances to invest in the health sector,
Africa has ample opportunities for
businessmen who can build advanced hospitals with modern technology, pharmacies, clinics, outpatient
care centers and specialized care centers such as; birthing centers and psychiatric care centers.
Apart from that, individuals that can provide telemedicine services,
teleconsultation, teleradiology, hospital furniture, drug manufacturing, medical training services,
Psychologists, Neurologists and Pediatricians are also in high demand.
According to the United Nations Economic Commission For Africa
health business opportunities in Africa will be worth as much as 259 billion US$ by 2030.
Strategic investing in Africa's healthcare industry does not only guarantee financial gains
but also presents an opportunity to save millions of lives, and prevent lifelong disabilities
as well as, spur economic development and growth.
In addition to this, businessmen who have invested
in the healthcare sector enjoy favorable rates of returns and exit opportunities
That's all that we have for today, thank you for watching this video!.
Please do not forget to LIKE, SHARING this video,
and to SUBSCRIBE to our channel, so that you don't miss any of our coming videos.
you