In this article, we are sharing the business opportunities in Africa which can make you a more millionaire.
There are many business opportunities available nowadays in Africa. In Africa, there are now many opportunities creating day by day in which you can try your luck. Many youths want to create values and want to bring change into the people's lives in Africa, which is called impact entrepreneurship. Impact Entrepreneurship is simply meant, making money and doing good things for the people at the same time. But Africa's new wave of entrepreneurs is leading no enthusiastic post in the mainlands' limited resources. As Africa is developing, there are many African business opportunities available where you can do the investment and can become a millionaire. Many of you are thinking about Where to Invest in Africa 2021 as there are many untapped business opportunities in Africa.
1. Crowd farming
Farming is a globally new and big business, most of the farmers around the world are financially rich. If we look into the point of view of Africa, it is expected that the Agriculture business into Africa will be worth 1 trilling dollar by 2030 according to the United States. Which is making perfect sense here to investment opportunities in Africa. In Africa, there is a huge domestic market available and with that, there are ample labour resources with a favourable climate available in most of the parts. But considering this all, still, Africa imports foods annually over 30 million dollars.
The main reason behind this is that most of the food is produced by smallholder farmers in the rural area, and they are having limited access to the capital with having poor farming techniques.
You can invest in these poor farmers, can teach them the new techniques of farming with the new advanced skills, and can share the profit at the time of harvest. This is known as "crowd farming", and which is trending and implemented in the right way could able to transform the face of agribusiness in Africa.
Sponsoring, farming projects and helping the poor framers with their farming to take the next level and sharing the profit at harvest time. If we can look into the number in the crowd framing, it raised around 1 million dollars, from US investors to grow its functions from last year.
There are many online platforms available that give access to investors from around the world to do investment into the various regions of Africa. It is predicted that the population of Africa will be double next year, and hence the business opportunity in Africa is very likely to produce a league of millionaires.
2. Waste
Over the decades waste has become an enormous and scolding problem in urban areas of Africa. In Africa, currently, the wastes generated buried, burned, and thrown away. As a result of this, more than 70 percent of the solid waste produced gets dumped into the water bodies. As mentioned above the population is increasing and hence the problem of waste.
The important question that arises here is that what to do with all these growing filthy wastes which are now becoming the worst environmental crisis? In Africa, the solution to this is to convert all these wastes into electricity.
You can produce highly nutritious proteins which cover fish meals in animal feed. There are many industries, which are growing and raising the funds nearby 30 million dollars from the wastes. There is another solution is that to convert waste into electricity. There are factories and organisations which are currently producing electricity successfully from the wastes.
You can produce the nearby 50 megawatts of electricity from the wastes. If you can invest in a business like this in Africa, it will raise more funds and with that can help to solve the waste problem of Africa.
3. Drones
In Africa, there is much more for the drones rather than only chasing the terrorists and taking breathtaking photographs. There are much more into Africa for Drones, which are finding the impactful and more versatile roles in Africa. Drone in Africa is helping with logistics, farmland management and deliveries. Drones can be delivered blood, medical supplies into the clinic, and which is happening in a country like Rwanda.
After the successful implementations in Rwanda, it is not expanding into Tanzania. The drones in Africa, which are providing support to the farmers, with providing the critical pieces of information which can boost crop yields are now operating in more than 10 countries around the world. It is now operating in the countries like the UK, Russia, and the US.
There are various fields in which drones are using and helping effectively to the people. By adapting the drones to solve major problems, entrepreneurs can create various jobs and innovative ideas for business in Africa.
4. Affordable housing
In Africa, there are the worlds highest rate of migrations from rural to urban and it is predicted that around 50 percent of the mainland could be living in towns and cities.
Because of this urbanisation, the question that arrives here is where these all people will live, and it is predicted that if the government tries to build, they can not build homes fast enough.
The real estate business is always on top over the world, as people do migration and also the population increasing day by days, which certainly increase the need of housing.
If you can invest in real estate and can able to build affordable housing in the country, it will be reached at the top easily and can make you a millionaire easily.
5. Automobiles
Africa is a developing country and as mentioned above it is developing and migrating to the urban fastly.
For the developing country and the most people who are migrating to the urban, there is a need for transportation.
The average for the vehicle available to the people in Africa is very low as compared to the global average.
Right now there are only 44 vehicles available over the 1000 people in Africa, which is very low as compared to the global average of 180.
It is estimated that vehicle sales in Africa could reach 10 million units per annum within the next 10 to 15 years.
There are large brands that are doing investment in Africa like, Toyota, Volkswagen, and Mercedes.
Doing Investment in automobiles can make you a millionaire, you can make the part of the automobile into Africa and can sell them as "Made in Africa" which can help to increase the sales.
6. Local products for export
Africa imports billion dollars of products every year, which includes both food and non-food items.
But there are many local products in Africa available, which has the ability to stand in the global market firmly.
Nowadays, there are many entrepreneurs are doing the same, they are taking the local products from Africa and selling them into the global market.
We can take Nilotica as an example, a rare type of Shea butter that is now used in the making of luxury products and sold around the world.
The important thing is that this butter is produced from the tree, which grows only onto the river of Nile river.
By working with the local women to process the butter, American entrepreneurs make luxury beauty products and sell them into the global market.
They are making skincare products from processed butter and selling over 350 stores around the world.
You can also do investment in local products and sell them across the world and can earn millions from it.
7. Startup Funding
There is a lot of buzz in the African market because of the investments which captured the attention.
because of this, the number of investors is increasing from Inside and Outside of Africa.
Currently, the investment returns in Africa is higher than the other country, but it is normal to ignore such opportunity.
If we go as the number then there are more than 560 million dollars of investment received from the local and international investors into the market of Africa.
It is the right time to do the investment in startups as the number of ventures into Africa is increasing and also they are returning with a great percentage.
8. Finance
Currently, the financial services industry in Africa is underdeveloped and also presents various problems.
In Africa, there is a need to spread the financial access to the requires, as it is inflexible and incapable.
There is wide scope into the financial service in Africa. As several startups are attracting investors and it comes with larger returns on invested capital. If we go with numbers in 2015 the investment in Africa startup is near o.5 billion dollars and it is expected to be double by the next year 2022.
9 Education
With the youngest population, Africa is rich in quality education. Which is restricted the poor students from taking a quality education. Because of the negligence and poor funding, there is poor education given to the government sector. As a result of this African parents are preferring private schools to give their children a good education. You can give them a good education at a lower cost, as there is a need for a good education. If you can able to do so, you can earn many bucks from it and can become millionaires.
10. Internet Access
Africa's internet market is worth millions of dollars. Giant companies like Meta and google are now running to improve internet access in Africa. However, in the race with these giant companies, some entrepreneurs are able to give their best into the internet market. There are many entrepreneurs are coming to Africa and also the startups, who needs the first thing is the internet. Everyone needs a good quality of internet access and if you can able to give the same the world is yours. You can make the investment into the internet market in Africa and can become a millionaire easily.
11. Healthcare Service
The health sector is the one that always needs an investment, as there are lots of equipment that come into the market always. There are lots of groups who are doing investments into the health sector and providing good services to the people. Many Indian groups have now started a chain of low-cost hospitals all over Africa. All this not only give good health to the peoples but also brings lots of job opportunity over the country. The health sector is one the best ones to do an investment and it will be good if you can give with the treatment in low cost.