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10 African Business Ideas That Will Make You Rich
Africa is a highly resourceful continent with great return on investments if you can be able to strategize and tap in to the huge market. With a population that is almost equal to 1 billion people, your market cannot be bigger. The problem however being faced by a lot of people is knowing the right African business idea to invest in. It may be a bit more challenging for those who may not fully understand the African market to invest in but one thing that is more than certain is the huge opportunities the black continent offers to potential investors and marketers. Answers Africa brings you some ideas you may want to consider if you want to do business in Africa .
Smart Business Ideas in Africa
10. Agricultural Support Platforms
Africa is well-known for agriculture as most of the countries therein largely depend on agriculture as the major source of income and foreign exchange and any investment in this sector with a technological backbone has the potential to scale up and become highly profitable. Have a mobile food service that allows you move your restaurant to serve breakfast, lunch, snacks, sandwich and casual drink close to workers or a technological platform that allows you identify food availability
9. Investments in Banking and Financial Services
Africa is currently perceived as a new land of opportunity by the world. The current fight for access to Africa by the west and the Chinese buttress this fact. Stocks in African companies are now seeing better investments from expatriates living in Africa are now better off investing their money in African banks or companies’ stocks than into their own banks and economies. Creating tools and services for this community to provide investment advice and personal finance planners to intending investors and those willing to learn the African market. This opportunity could be packaged in the form of a confidential investment newsletter, market research agency, investment boutique, index fund, index tracker agency.
8. E-libraries and e-books study platforms for students
The trend towards digital library is soon going to envelop the black continent. Africa will soon by-pass the area of huge physical libraries which require a lot of funding, logistics and infrastructure and go directly to digital libraries where students and citizens could access millions of books and materials through mobile devices and tablets. Smart entrepreneurs may want to explore this opportunity to negotiate the deals, clear the patch of adoption and build the necessary platforms that will support this revolution and start off a new trend ofbusiness in Africa.
Africa has a huge housing problem in all its urban areas especially as most people rather go to live in urban areas than in the rural areas. The government is overwhelmed by housing projects and integration with private investors in this area will meet the need of a lot of people who in return, will drop their cash.
6. Field Data Collection Services
If there is anything that lacks in Africa, it is access to valuable data. Independent projects monitoring and translating data is one of the sectors that is completely naive in Africa. To enable the international community fund their project adequately, they need access to such valuable and raw data.
Currently this job is done by hiring huge consulting firm in Europe and the west which spend a lot of money subcontracting it out to other smaller firms to gather and organize their data.
An African company that will specialize in field services and data collection will be able to fill this gap and become a valuable resource to the international community.
Category: Business ideas