Investors are now moving into Africa not because Africa is the most beautiful continent in the world or the best place to reside and enjoy life but because of the numerous business opportunities that can be found there. Talking about the African market, we get to understand how big it is and how one can fully utilize the untapped business that is found all over Africa.
Africa is one of the most naturally blessed continents in the world, with all kinds of natural resources like crude oil, gold, natural waterfall, dam, tries, cement, coal, diamond, iron, brass, and many other resources that are very crucial to human development.
Far from the natural resources found all over African soil, do you know that there are businesses that you can start investing in Africa which will surely yield huge profits.
To earn a huge amount of money, you need to solve problems that people have around them and those problems can be found abundant in Africa, you just need to figure out the particular problem you want to start solving, build on those problems then your money making is sure.
Let’s take Nigeria as a case of study, in this part, there are many problems people are seriously looking for solutions to which many of these solutions are not to be found, the one available is not satisfactory leaving that vacant still open to new ideas that could permanently solve the problem.
As an investor or a business person, if you can provide solutions to these very problems by executing a very reliable task that cured cure that particular problem.
Steady supply of electricity is a very big problem in Nigeria and other surrounding countries in Africa, few of the citizens with money have switched over to clean solar electricity which is a reliable source of electricity.
The common people that do not have lots of money still rely on the disappointing nature of the electricity supply and generator which generates a lot of CO2 noise and hazard to the environment, the still spend a whole lot of money on buying diesel to fuel their generator in or to run it.
African Market Business Opportunities
Now we are going to be looking at the best business opportunity in the African market and how you can utilize it for your own benefit.
1. Electricity and Solar Energy Solution
One of the biggest problems faced in many African countries is the steady supply of electricity, in this advanced world where technology and machines have taken over most human jobs and productions, these machines are powered with electricity and without it won’t be able to function.
Many industries have shut down due to the lack of steady electricity supply which results in them spending a whole lot of money on fueling their diesel generator to enable them to run their production and in the end, will still need to pay for the electricity bill meanwhile the did not even use the electricity steadily for up to 12 days without interruption.
These are the current problems people face in that part of the world and need solutions in the African market, and solutions have not been totally found.
Many industries have not switched to solar clean energy due to the fear of its efficiency and the fear of how effective the use of battery technology to power equipment at night when the solar panel will not be able to receive energy from the sun to power the machines used in production.
Batteries are costly and expensive to maintain, machines used in those industries need a whole of them to function. maintaining that whole battery may be very expensive to do unless a way can be provided where just a few batteries are needed to run the night productions.
Providing solutions to this problem will yield a great income to you because many people are dying to get a reliable source of electricity to run their business, when they calculate the amount they pay for the unreliable electricity from NEPA and the amount they spend on diesel each month, it will be enough to establish a small firm that can bring income on its own.
These solutions have been available in advanced countries for many years without the knowledge of reaching the African market. If you can bring these solutions to Africa, it will be a great deal and many will love to buy your ideas bringing lots of money into your bank.
2. Water Scarcity Solution
Many places in Africa lack a source of clean water supply which have brought lots of problems, sickness and afflictions to the resident of those kinds of environment.
Investing in the production and supply of clean water will yield a very huge income. Residents of those kinds of areas will be willing to pay the bills that come with the supply of clean drinkable water.
3. Waste Recycling Of Plastics
In many parts of Africa, plastic bags and cans can be found in almost every corner part from those places with strict waste management rules.
If you own a plastic recycling company, you can start recycling the plastic waste found in Africa which contributes to hazards and floods. When these plastic bags blocks sewages where water passes through, the water will look for another rout to flow through which brings about floods.
Recycling plastic materials can give Africa a clean environment, provide employment to people and solve most causes of floods in areas like Lagos, Abuja and Abia state.
4. Low Penetration Of ICT Services
The ICT services are very low and almost unreliable due to the cost of getting one and even after subscribing to it, the services are mostly not stable.
Elon Musk announced he was launching his ICT service in Nigeria which is Starlink, but according to the report, the service is very costly. Even though the services may be reliable but it still remains expensive for a common man in Nigeria to afford making that part of the African market still vacant.
Many people need low cost and reliable Information and Communications Technology services, if that could be provided for them, they will greatly be willing to buy the services.
5. Genetically Modified Crops
If you can produce genetically modified crops for the African people’s consumption, you will make a great deal of money.
Africans lack those skills, you can enter that market and start producing genetically modified crops. The good part of these crops is that they grow faster than then the ones produced naturally and can be larger which means more food to eat and less stress of harvesting.
6. Monetizing The Abundant Sun In Africa
People in Africa have not really utilized the abundant sun they have with them, solar panels are been sold around the world but many in Africa can not afford to buy them due to their high cost.
You can start converting the sun into electricity by the use of solar panels then use an inverter to convert the AC currents to DC current which you can in turn sell to people that will be readily willing to buy.
7. Infrastructural Developments
Infrastructural development is greatly lacking in Africa, there are many parts of Africa that are under development with little access to the rest of the world.
You can start establishing real estate buildings in areas that lack them and build schools that will provide quality education to children and adults. This is a very large business in the African market, doing these things will greatly bring benefits to the provider and the receiver.
8. Solutions To The Scarcity Of Quality Health Care
Quality health care has been a very big issue in the African continent, many with big pockets chose flying outside to receive reliable health care. They have relied on Indian and European heath care to provide that quality health care that is lacking in Africa.
You can start providing that quality health care in Africa by establishing a very good health centre with modern equipment that will greatly improve the health of the African people. many will greatly love to come to you for their health problems since they know you will be able to solve them.
9. Solutions To High Cost electronic Devices
Electronic devices are expensive to buy in Africa, many people do not have the money to purchase good electronic devices like smartphones, computers, TV sets etc. due to the high cost they are been sold in Nigeria.
The reason why these are very costly to sell in the market is due to the cost of shipping them to the various countries in Africa, if these devices can be produced on the soil of Africa, they will be very cheaply sold making them affordable for the common people to purchase.
You can generate great sales in the African market so far those devices can perform well and will be sold cheaper than others in the market.
10. IT Services In Africa
many lack the ability to maintain their IT need in Africa providing those services for them will surely bring lots of benefit to African people and will in turn yield income to you the provider.
You can provide cyber security services to people, networking services to companies and individuals, internet service and many more.
Taking these things into consideration and entering into the African market can really help you build a global business in Africa where you lack competition, you can move to any African country you feel needs your services, establish your services there then start getting the benefits it brings.