Entrepreneur India today announced that it will be the flagbearer of business opportunities in different countries of Africa. Africa is the second-largest and second-most-populous continent after Asia. Home to approximately 54 countries and vast natural abundance, many business houses and big players are looking to tap the potential of this vast subcontinent. The continent has several challenges and thus it's high time that this potential is tapped.
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The Founder of Entrepreneur India Mr. Ajjay Kumar Gupta inaugurated the session with his eye-opening statement. He questioned everyone in the room to name at least 1 African company with yearly earnings of $1 billion or more. And to our amazement, we couldn't even name one. But the fact is that there are more than 500 such companies. He further stressed that Africa is home to many multi-billion and million companies that the world is unaware of.
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When asked Mr. Ajjay Kumar Gupta what his motivation was, then the man replied in an affirmative and optimistic tone. He said that Africa has one of the biggest populations and almost 60% of the population falls under the working-age group. Thus, in Africa, you get both employable chunks of the population as well as the market for your products.
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But what about institutional support? To Which Mr. Ajjay Kumar Gupta replied, "Yes, Africa is having a highly stable Government right now. And this is the major reason why there are multiple business policies in the region. The Government is also welcoming business houses both inside and across the border with open hands. The government is urging people to invest in the major African countries like - Zimbabwe, Uganda, Tanzania, The Gambia, Sudan, Togo, Western Sahara, Somalia, Senegal, Saint Helena, Rwanda, and likewise. With awesome infrastructural support, we are putting up our best in this continent. And since African countries have huge income disparity and poverty, thus it is expected that with our consistent efforts and both large scale as well as small scale business opportunities, we will be able to uplift the African community".
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Mr. Ajjay Kumar Gupta went ahead and shared that of course, he was quite apprehensive about investing in this far-flung nation. Then what boosted his spirit. To our surprise, Mr. Gupta said "I am a man of numbers. I love the magic of mathematics. And thus I decided to check the numbers before putting my heart, soul, and hard-earned money into a foreign country. During 2000-2010 African GDP grew by 5.4% which fuelled its labor as well as infrastructural and productivity growth. During this period, I had this amazing idea in my head. But again in Arba Spring of 2011, there was a slowdown, and then oil prices suddenly collapsed in 2014.
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As a result of all of the above, I also received a major mental setback. I felt that maybe I am going towards the wrong path. But then I saw the strong Governmental involvement in almost all the spheres of Africa. Be it business, politics, export, import, or anything else, Government was doing it's best. It was even urging people to come ahead and take part in this amazing land and explore business opportunities there. And that's when I decided that I will focus my business ideas on this country for the upliftment and holistic development of the nation. Plus if you calculate it from my point of view, then you get the factor to produce the product in Africa as well as customer to even consume the product. Asia is already flourishing high with both demand and supply. Thus, it's high to look into other alternatives. So, there's no better destination than Africa at this point".
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By now, of course, the entire crowd was all pumped up about this initiative and we also wanted to know what is different in these business opportunities. Like what are the major business opportunities planned by Entrepreneur India for African countries. Since almost all the African countries are home to a huge reserve of natural resources and there is an excess of agricultural produce as well, thus most of their businesses will be based on these two factors only.
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