Small Business Ideas In Africa
If you are desperately looking for small business ideas in Africa to invest your money in, I can confidently tell you that you will see one or two from my top 10 best profitable business opportunities in Africa.
There are so many business opportunities in Africa for any serious entrepreneurs to invest in.
Some don’t even require large capital but promise a huge return on investment.
So, if you are based in any of the African countries or base in the diaspora and you will like to venture into any profitable business opportunities in Africa, here is my list of top 10 best small business ideas in Africa.
“Africa is the fastest-growing economic region in the world. This is the right place to invest.” Aliko Dangote.
Many people are diving into so many profitable business opportunities in Africa and you are supposed to be among them after reading this post.
Africa is well known for agriculture and it accounts for between 60% to 70% of any country’s economy GDP.
Most Africa entrepreneurs are tapping into this profitable business opportunity.
Some countries like Nigeria, Angola, and other Africa countries depend largely on agriculture for their source of income and foreign exchange.
Top 10 Small Business Ideas In Africa
1. Agricultural Business
This is one big profitable business opportunities in Africa that can make any entrepreneur wealthy.
Africa’s film and the music industry has begun to enjoy huge patronage within and outside the continent.
With this fact, what are you still waiting for?
Venturing into this profitable business opportunity in Africa makes you one of those people that will help cure hunger in Africa.
Major crops in Africa that you can farm on are maize, cassava, rice, vegetables, walnut, onion, yam, etc.
This is one of the best Small Business Ideas In Africa.
2.Media and Entertainment
From Nigeria to South Africa to Kenya to Ghana, Africa’s music and films now get attention from international brands that they now sign Africa artists into their music record label.
These days, African actors and actresses are now being featured in Hollywood.
One of the best investments you can make in Africa is investing in the real estate industry.
People will always need shelter to keep their head and if you can provide one, they will pay you forever.
Families need an apartment and usually find normal homes that fit their budget and happily pay their monthly dues.
An entrepreneur can start his or her own movie industry or record label and make good money from a signed artists.
Top music entrepreneurs like Don Jazzy of Mavin Records, Kenny Ogungbe and Dayo Adeneye of Kennis Music are swimming in cash presently from the money they make from their artists, international record deals and ambassador deals from brands.
3. Real Estate Development
Purchasing and developing of rental properties is one sure way entrepreneurs in Africa are making their money.
This is residual income to your pulse without any worry about the economic performance.
Africa’s retail industry is now a multi-billion dollar business opportunity.
Retail is now gradually moving from its formal open market into a more organized form in a single shopping mall and online stores
International and local brands like Shoprite, Checkers, Edgars, Mall of America are now expanding into many countries and occupying any available spaces in big cities.
Interestingly, the battle for retail supremacy in Africa isn’t only happening in physical retail chains.
5.Create a Full-Service Job Agency
This is another profitable business opportunity in Africa.
One biggest issue in Africa among graduates is getting employed.
Most times, companies even find it difficult to recruit the exact qualification they are looking for.
Big retail stores like Konga and Jumia has grown so big in a few years of entering the market.
Both Internet-based retail businesses now have a combined worth of over $1 billion.
Africa is now one of the growing retail markets in the world.
As an entrepreneur, you can start up an organization that acts as a middle-man between job seekers and job employers and get a commission for doing it.
Jobberman.com is one company that is doing this successfully and they are raking in a huge amount of money monthly.
E-commerce in Africa is only in its very early stages, however, there are a lot of opportunities to seize.
Good positioning and a well-rounded branding and customer service will help any well-funded startup in this segment to make fortunes.
7.Apps and Online Services
There are so many businesses in Africa making money from their apps as they are using it to solve customer’s problems online.
These days there is almost an app for anything you want in life.
Just give it a thought and you will understand what I am talking about.
Africa is not left behind in app creation and delivery of online services for consumers.
In fact, if you are looking for a suitable hotel in Nigeria that meets your budget, you just need to visit Hotels.ng or Jovago.com.
Looking for Africa movies to watch, there is already an app for that. It is called, IrokoTV.
What are you waiting for as an entrepreneur to launch your app or online
Online entrepreneurs in Africa are still having issues making and receiving payment online due to the restriction placed on some African countries by the largest online payment platform, PayPal.
Smart entrepreneurs who can provide a simple, easy, and convenient payment solutions will be well rewarded greatly as so many Africans are now involved in one or two online businesses these days.
In Africa, there is still a huge space missing in the online payment solution.
Online payment platforms like M-Pesa that covers Eastern Africa and Paga, SimplePay, and PayWithCapture that is taking over the Western side are trying to bridge the gap and become Africa giant in online payment.
You as an entrepreneur can either invest in any of these companies so your fund can help them achieve this goal or you can invent the solution yourself with your own company.
This is one opportunity Africa entrepreneurs need to also consider.
Africa values education more than any race I have ever imagine.
However, poor access to quality education is a serious threat to Africa’s human capital and this causes many elite parents to send their children abroad for studies.
This is one best profitable business opportunities in Africa as you can start up a good school or university that can meet up with international standard.
There are so many countries in Africa suffering from electricity.
This is an opportunity for entrepreneurs to provide a solution and make money from it.
So many companies have started tackling this problem by providing alternative means of generating power.
They are companies now providing solar panels, wind vane, generators for households so they can generate power when electricity fails and Africans have started buying into the idea.
Although, it is very expensive compared to the electricity provided by the government.
With the above small business ideas in Africa I have shared with you, you should be able to pick one or two business opportunities and ponder on them and take action.