Business Ideas To Start In Africa: 7 Lucrative Ways to Make Money in Africa
Are you an investor or entrepreneur looking to the investment opportunity, looking to starting a business in any of the African countries? Do you want to know some investment opportunities or small business opportunities in Africa? In this article, We will share with you 7 lucrative ways to make money in Africa plus opportunities on the continent that will bring huge returns on investment.
Below are 7 Lucrative Ways to Make Money in Africa
Humans require food to survive. It’s a basic everyday need. Africa is home to over 1 billion people who have to eat every day. That’s a lot of mouths to feed. The demand for food and products in Africa is very high.
Did you know that over 6 percent of the world’s fertile and uncultivated land is in Africa? Did you also know that Africa still spends billions of dollar every year on food importation from abroad?
With its cheap land, abundant labour and favorable climate for agriculture, Africa has the potential to feed the world with the following:
• Grains (rice, corn, wheat and more)
• Roots and tubers (cassava, Potatoes and yams)
• Livestock (Cattle, pigs, sheep)
• Fruits and vegetables
• Edible oils (Soybean oil, Palm oil and more)
Did you know that all the 48 countries of Sub-Sahara Africa combined with a population of more than 750 million people – generate roughly the same amount of electricity as a country like Spain just not a big country with less than 70 million people?
The demand for electricity in Africa is high and growing. Why this:
Growing urban population
Africans needs to charge their mobile phones. There are now over 750 phones on the continent
Lighting for homes and businesses
Power for electrical appliances
What are the opportunities in Africa’s electricity industry?
• Solar Power
With over 300 days of bright sunlight every year, solar power remains one of Africa’s most abundant but scarcely used resources.
Over 50 percent of Africans are less than 25 years old, making it one of the world’s youngest populations. Africans are desperate for quality and good education and even poor parents are willing to pay more to educate their children
What are the opportunities in Africa’s education sector?
• Primary & Secondary education
• University Education
• Professional Training & certification (IT, Services)
• Vocational training (Technicians, Artisans)
• Personal Development training
• Corporate sponsored training
Africans generate over 80 million tonnes of waste per year. The was collection, disposal and recycling industry is a multi-billion dollar business industry in developing countries.
Due to increase in urbanization and economic activities, over 700 million Africans need reliable transportation everyday to get either to work, market, school, functions etc. Africans in the city spend up to 40 percent of their income on transportation
What are the opportunities in Africa’s transportation sector?
• Vehicle sales, maintenance & repair services
• professional car hire services
• Inter and Intra city bus shuttle services
• Water, air & rail transport
Over one billion people and one of the world’s fastest growing populations, Africa will need more than 150 million new homes to avoid a housing crisis in the coming years.
What are the opportunities in Africa’s housing sector?
• Building & construction
• Real estate investment
• Residential & office accommodation
• Hotels & Travel lodges
Six of the top ten fastest growing economies in the world are in Africa, the continent still has one of the highest unemployment rates in the world today. The lack of structure in Africa’s job labour market is responsible for up to 60 percent of problems
Here you have it. 7 Lucrative Ways to Make Money in Africa. So if you are out there with that money bag and looking for areas to invest in Africa try these seven ideas listed above.