Profitable Business Ideas and Opportunities to Start in Africa
Do you want small business ideas in Africa that bring good returns? Are you an investor looking for opportunities to invest your money in Africa? Africa has raised its investment profile over the last decade, benefiting from an improving macroeconomic environment, reductions in armed conflict and the spread of democratic institutions.
Africa has been concentrated in natural resources, there are exciting opportunities in renewable energy, infrastructure, agriculture and education. Africa is highly a resourceful continent in terms of return in investment if you are able to conduct your feasibility study and tap into the huge market.
The only problem faced with investors is knowing the right business opportunities to invest into. But, if you are faced with that issue, you have no reason to complain any longer because this post is for you.
I will be revealing to you updated small business investment opportunities in Africa that can make you a multi-millionaire in the long term. This sectors has been proven profitable for investors to put their money into it and you don’t get to worry about your investment.
Most Profitable Small Business Opportunities in Africa
1. Real Estate
Just as food and shelter is regarded as one of the basic human needs in Africa and the world, everybody needs roof over their head. Africa is seriously facing housing crisis presently, as much people rather prefer living in urban areas than rural areas.
This action has caused the increase of house rent and property prices upward making it one of the best promising places to invest in real estate right now. This investment opportunity is a juicy offer to entrepreneurs looking for investment opportunities in Africa.
The population of Africans is increasing very fast and the housing problems are too big for the government to handle. So, they are welcoming private investors into this sector to help curb this problem of housing.
2. Health Care
Healthcare investing includes establishment of hospitals, supplying good medical facilities and equipment, manufacturing of drugs, providing family planning facilities and services and many others.
Most people are familiar with the problems facing the health sector in Africa and it has pushed private investors to confront this issue thereby also making money from it. This healthcare sector is very large and diverse.
Investors has an investment opportunities to invest in different areas which comprises of medical education providers, manufacturers, retailers, distributors etc. but so far many investors has only been investing on few areas like retailers and health service providers that can deliver investment returns.
Africa is a well-known continent for agriculture as most countries depend on agriculture for living and others as a source of income. You as an investor can start a commercial mechanized farming where you tend to gain more or you can start a mobile restaurant business that provide foods to workers in their farms and work sites.
Agricultural products someone can invest in are cocoa, plantains, cassava production (consume by billions of people), beans, maize, vegetables and fruits milling. Oil producing nations like Nigeria and Angola have started focusing on agriculture due to the recent drop of crude oil price. This is to tell you the availability of the investment opportunities that is in agriculture.
Ecommerce is Africa is still yet to gain popularity because many people has not been perfectly introduced into the operation and it opportunities. Few ones that know about it are using it to fraud the innocent ones.
An investor can come and educated the people on opportunities that ecommerce trading can bring and also start up a company that will protect them from internet fraud with good customer service.
Online payment is still a problem in most African countries, investors can create a middleman payment system that help receive money from international bodies like PayPal and help send the money to the receiver account.
This is one of the biggest setbacks in Africa. The opportunity behind this is to create a solution that can provide electric power better than their previous means. Investing in solar energy won’t be a bad idea because it is very much abundant in Africa and remember Africa is a hot continent.
Most countries in Africa enjoys more than half a year of sufficient power supply because their main source is solar. But, so many countries don’t even have access to this and are suffering from shortage of electricity, and this is where you as an investor comes in to do business.
6. App Services
These days there is almost an app for anything you want. Africans are really welcoming this idea with open hands. If you looking for a good hotel accommodation, there is are apps for it. If you want to watch African movies, IrokoTV is there for you.
Are you looking for furniture to buy? There is an app for that and these apps are used by millions of people all over Africa.
More and more apps are still coming and if you are a smart investor, this is an opportunity to invest into.
7. Mobile Phones
Africa is currently one of the fastest growing market for mobile phones users after Asia. These days, everybody in Africa wants to use the latest phone in stock which makes the demand very high.
Everyone wants to upgrade including me. Most phones are produced specifically for Africans mostly Nigerians because their demand are very high. Why do you think someone will produce a phone with long battery life when there is 24 power supply in his country.
It is not because that person knows that Africans are suffering from shortage of electric power and they would buy any phone that will last them in case the light outbreak takes longer?
Phones like the BlackBerry, IPhone, and Samsung are very expensive phones in Africa but that do not stop the average person not to purchase them.