Small Business Ideas in Africa
Suppose you are desperately looking for small business ideas in Africa to invest your money in. In that case, I can confidently tell you that you will see one or two of my top 40 best profitable business opportunities in Africa.
There are so many business opportunities in Africa for any serious entrepreneur to invest in.
Some don’t even require large capital but promise a massive return on investment.
So, if you are based in any African country or base in the Diaspora and you will like to venture into any profitable business opportunities in Africa, here is my list of the top 40 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.
After reading this post, many people are diving into so many profitable business opportunities in Africa, and you are supposed to be among them.
Africa is well known for agriculture, accounting for between 60% to 70% of any country’s economic GDP.
Most Africa entrepreneurs are tapping into this profitable business opportunity.
Some countries like Nigeria, Angola, and other African countries depend primarily on agriculture to source income and foreign exchange.
Seven reasons why you should consider doing business in Africa
1. Huge interest in commercialisation.
Commercialisation in Africa businesses has made it possible for new products and services to be brought into the markets to meet some needs.
Africa has many business potentials because, for every problem that is still unmet, they are a possible solution to satisfy customer’s needs.
2. An emerging economy region in the next ten years
It is projected that by 2050, Africa will be a perfect place for the world’s most powerful economies and will have a total Gross Domestic Product of about $29 trillion.
3. A good amount of skilled labour workers
Africa is the world’s second-largest and second-most-populous continent, after Asia in both cases.
Africa is projected to hit more than 2 billion populace by 2050.
More than 50 per cent of the African population is under 20 years old, making it the world’s youngest continent. In comparison, only 28% of the people of Chinese are under 20 years old.
In return, this will increase the number of workforce occupying different sectors of the African economy. With this, they will also be rapid growth in various African countries’ economic sectors.
4. Ease of doing business
The Doing Business Report 2013 has ranked Mauritius, South Africa, Rwanda, Botswana, Ghana, Tunisia, and Namibia above China(as the best performing BRIC country), while Morocco, Zambia, Egypt, Kenya, Uganda, Ethiopia, and Nigeria rank above Brazil and India.
5. African’s Urbanization
Urbanisation in Africa is increasing quickly and rapidly.
Urban African consumers spend the largest share of their budgets(about 45%)on food and groceries.
6.FDI inflows to Africa have increased by 13.6% and FDI outflows by 55.6% in 2010.
7. African countries have diversified economies.
Diversification of the economy is what separates Africa from other continents.
As a visionary entrepreneur or investor, you can exploit so many sectors and markets, whichever you like, make sure you make a change in the African economy.
Top 40 Small Business Ideas in Africa
1. Agricultural Business- Agribusiness is a money-spinner that has made most African entrepreneurs rich!
Ghanaian famous actor and an Agribusiness entrepreneur like John Dumelo has proven that Africans can build a sustainable economy if the Agricultural sector in Africa can be more financed, managed, and developed in years to boost the GDP of the Agriculture industry in Africa.
“From the farm to the markets to our home… I am proud to be contributing my quota as a farmer to national development.” It is good to be a farmer.
This is one big profitable business opportunity in Africa that can make any entrepreneur wealthy.
According to the World Bank Report, the agribusiness industry in Africa is expected to be worth $1trillion by 2030
Venturing into this profitable business opportunity in Africa makes you one of those who will help cure Africa’s hunger.
Major crops in Africa that you can farm on are poultry, maize, cassava, rice, vegetables, walnut, onion, yam, etc.
A Motswana agribusiness entrepreneur Nonny Penelope Wright, the founder of the Sereledi diary brand, also inspired her to start her agribusiness, Lopey Inc.
Lopey Inc, where her company runs a dairy producing and processing company where they have raw milk and further process it into fresh milk, madila, and drinking yoghurt.
This is one of the best Small Business Ideas In Africa.
2. Media and Entertainment- Africa is a home for entertainment after the United States Of America
From Nigeria to South Africa to Kenya to Ghana, Africa’s music and films now get attention from international brands that sign Africa artists into their music record label.
Africa’s film and the music industry have begun to enjoy huge patronage within and outside the continent.
With this fact, what are you still waiting for?
These days, African actors and actresses are now being featured in Hollywood.
An entrepreneur can start their movie industry or record label and make good money from 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- The big deal! Because Africans need more housing units.
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 heads, and if you can provide one, they will pay you forever.
Families need an apartment and usually find average homes that fit their budget and happily pay their monthly dues.
Purchasing and developing 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.
4. Retail- More gaps need to be filled here!
International and local brands like Shoprite, KFC, Checkers, Edgars, Mall of America are now expanding into many countries and occupying any available spaces in big cities.
Big online retail stores like Konga and Jumia have 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’s retail industry is now a multi-billion dollar business opportunity.
Retail is gradually moving from its traditional open market into a more organised form in a single shopping mall and online stores.
Africa is now one of the growing retail markets in the world.
Interestingly, the battle for retail supremacy in Africa isn’t only happening in physical retail chains.
5. Create a Full-Service Job Agency- Unemployment is at a high rate, most significantly using Nigeria as a case study
This is another profitable business opportunity in Africa.
One most prominent issue in Africa among graduates is getting employed.
Most times, companies even find it difficult to recruit the exact qualification they are looking for.
As an entrepreneur, you can start up an organisation 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 massive amount of money monthly.
6. E-commerce- They are lots of business potentials in the eCommerce business
E-commerce in Africa is only in its very early stages; however, there are many opportunities to seize.
Good positioning and a well-rounded branding and customer service will help any well-funded startup in this segment make fortunes.
7. Apps and Online Services- Smart African tech entrepreneurs can come up with creative and innovative apps and online services
Many businesses in Africa make money from their apps by using them 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.
If you are looking for a suitable hotel in Nigeria that meets your budget, you just need to visit Hotels. Ng or Jovago.com.
Are you 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
8. Payment Solution- Internet entrepreneurs need more payment options for swift business transactions
Online entrepreneurs in Africa are still having issues making and receiving payments online due to the restriction placed on some African countries by the most effective online payment platform, PayPal.
Innovative entrepreneurs who can provide simple, easy, and convenient payment solutions will be significantly rewarded as so many Africans are now involved in one or two online businesses these days.
In Africa, there is still a vast space missing in the online payment solution.
Online payment platforms like M-Pesa that covers Eastern Africa and Paga, SimplePay, and PayWithCapture that are taking over the Western side are trying to bridge the gap and become an Africa giant in online payment.
Just as of the late last year 2020, a Nigeria Fintech company named ‘Paystack.com’ was acquired by Stripe for $200million to expand into different countries in Africa.
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.
9. Education- The educational system in Africa needs to be improved.
This is one opportunity Africa entrepreneurs also need to consider.
Africa values education more than any race I have ever imagined.
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 of Africa’s best profitable business opportunities as you can start up a reasonable and affordable private school or university that can meet international standards.
10. Power generation- Poor supply of electricity is another challenge facing most African countries
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 now provide solar panels, wind vanes, generators for households to generate power when electricity fails, and Africans have started buying into the idea.
Although, it is costly compared to the electricity provided by the government.
11. Smartphone Startup- The number of smartphone users in Africa keeps on increasing every year
The high number of Smartphone users in Nigeria, Which is considered Africa’s biggest economy and most populous country, is forecast to grow to more than 140 million by 2025.
Smartphone penetration is set to grow to around 60 per cent by 2025, which has presented substantial growth opportunities for mobile phone and Smartphone manufacturers.
You can become a phone dealer by partnering with popular phone brands such as Infinix, Tecno, Samsung, Gionee, Itel, and iPhone. Get their various products at discounted prices, then resell higher to the local market.
12. Start A Construction Company- A considerable contributor to Africa’s infrastructure
Infrastructure is one of the keys in a developing continent like Africa. An investor or an entrepreneur can start a construction firm where you specialise in various construction works, such as building residential houses, office spaces, shopping malls, churches, churches, schools, and road construction.
Most African countries need more good infrastructure to create a more enabling, friendly, and working business environment for local and foreign investors.
13. Affordable Healthcare Services- Our healthcare system is relatively poor or low and needs more interested investors to invest in the healthcare sector in Africa
Poor healthcare services have been a significant problem encountered in Africa over the years, which has increased the high rate of mortality across different countries in Africa.
The high margin of inadequate healthcare services in Africa has discouraged most local and foreign investors from investing in a good business opportunity.
As qualified and certified healthcare personnel, you might want to offer various kinds of healthcare services either by setting up a private hospital, health consultancy, pharmaceutical store, supply of medical equipment, and so on that Africans are considered affordable.
As of 2016, the healthcare situation prompted innovative Nigerian entrepreneurs like Tito Ovia, Adegoke Olubusi, and Dimeji Sofowora to launch Helium Health, a healthcare technology provider working in several African countries.
If you can invest in the healthcare sector in Africa, be less assured that you will be swimming in millions of dollars in years to come.
14. Transportation business- A multimillion-dollar business that guarantees a daily profit
The transportation business in Africa is considered a boomer when it comes to high-income generating ventures, and also it is worth millions of dollars.
You might want to give this business opportunity a second thought because you will be making money daily, and the reason is that most Africans don’t own their vehicle. What they do is that they patronise commercial transportation services that would take them to their various destinations such as offices, schools, places of business, and events.
The population of Africans is more than 1billion as of 2021, and these stats keep increasing so fast every year; and looking at these figures, this is one of the smart business ideas to invest into.
You can choose various transportation business ideas, such as Taxi services, Tricycles, commercial buses, ferry transportation, and Motorcycle.
15. Automobile Sales- You can import affordable automobiles and sell them to the local markets. This industry is a goldmine
With the high increase in Africa’s population, the number of people who wish to own an automobile vehicle for commercial or private use will never decline anytime soon.
This is a big gap for an entrepreneur or an investor to fill by investing massively in the automobile industry.
USA, Germany, Canada, Belgium, and the United Arab Emirates are some of the top 5 countries car dealers in Nigeria import quality and affordable cars from.
Nigerians alone have a calculated expenditure of fewer than 5 billion dollars every year importing used cars from the countries mentioned above.
Just be ready to adapt to custom clearance and duties that is be levied on your imported cars.
This is one of the significant challenges you might likely face shortly if running an automobile business in Africa.
Some of the business opportunities to explore in the Africa automobile industry are as follows:
- Importing and selling used vehicles- An average African can only afford second-hand used cars compared to purchasing a brand new vehicle that they still consider expensive.
- Selling of vehicle spare parts and accessories
- Setup an automobile repair service/maintenance workshop
- Invest in scrap metal from non-working vehicles- This is the collection and recycling of scrap metals from dead or non-repairable vehicles for manufacturing and other uses.
- Operate a car manufacturing unit- For entrepreneurs with high intensive capital, you might want to take the African automobile industry to a new dimension by building a car manufacturing unit to manufacture luxurious, affordable, and good vehicles for typical African roads.
Automobile business firms like Innoson Motors(Nigeria), The Kantanka(Ghana), The Kiira EV Smack(Uganda), and Mobius Motors(Kenya) are making billions of dollars from the automobile industry.
Another business opportunity in the automobile sector is the importation of tricycles, commercial buses, and motorcycles.
To succeed in the automobile industry, you will need a decent amount of business capital, an aggressive marketing strategy, and good business branding. These are some things that will sustain you for a very long time in the automobile industry.
16. Provision of startup fund
Most local investors have seen the need of assisting aspiring entrepreneurs in raising capital for their businesses.
The Nigerian Bank of Industry (BOI) is a commercial bank that was incorporated in 1964. They later took off in 1964 with an authorised share capital of 2 million (GBP).
Their main aim is to transform Nigeria’s industrial sector by providing enterprises with financial and business support services.
An investor can set up an agency where business funds and loans are being borrowed with the sole aim of paying back with some agreed and bargained interest.
17. Waste Management Business- Over the decades, poor waste disposal has been a significant challenge facing a developing continent, most especially Africa
Waste management is a social, economic, and environmental problem facing almost all African countries over the decades. At this present moment, the problem is still a significant concern in Africa.
If you as an investor can initiate waste management startups that can help regulate and curtail the high rate of waste disposal across various countries in Africa(We need to have a better, clean and good environment here in our continent ). You can earn generate a good amount of revenue from the waste management business.
Some of the good business opportunities in the waste management business are as follows scrap business, electronic recycling business, rubber recycling business, medical waste disposal business, plastic recycling business,
Waste management is well regulated in most developing countries. It will be a good idea if you partner with bodies regulating waste management in any country you want to set up your waste management business firm to have the upper hand when running your business.
Lorna Rutto is a Kenyan woman who had to quit her banking job in 2009 to pursue waste management. She started her own company and named it Ecopost, which mainly focused on recycling plastic wastes collected from garbage cans and dumpsites in Nairobi to manufacture fencing posts (These posts are being used in houses and forest reserves to fence the properties and are getting increasingly popular).
Over the year, 10,000 posts were made, she was able to create over 500 jobs and generated over $150,000 in yearly revenue.
18. Hotel Business- The Africa Continent attracts a lot of foreign investors
Most countries in Africa, such as Rwanda, Mauritius, South Africa, Kenya, Nigeria, Ghana, Botswana, and the rest attracts a large number of investors and tourists from different parts of the world who are interested in exploring more places and business opportunities in Africa; they will need a place for shelter which will be conducive and convenient for them during their stay for the primary time in Africa.
This is a good reason for interested investors to build more affordable hotels across different African countries. You wouldn’t only be making money from the hotel business, but you are also aiding to promote and boost the hospitality industry in Africa.
“Despite Pandemic, Hotel Chains Grow in Africa”-The Wall Street Journal
Well, known hotel chains, Marriot International, Radisson Hotel Group, and Paris-based Accor, Europe’s largest hotel company, say their African businesses are not only holding up, but they are also determined to stay on track with, if not grow, their footprints.- The Wall Street journal
19. Furniture Business- Unsaturated business opportunity that assures you with huge returns.
As there is an increase in more housing units in Africa ranging from residential to commercial buildings, they will also need to get more equipped furniture in a home or office to give it a more appealing and attractive look.
The urbanisation process is expected to exceed in swift growth, mainly in Sub-Saharan Africa. A large urban area will be the engine of economic growth with high interest and increase of various furniture consumption.
An entrepreneur or investor can set up a business firm where you deal with local manufacturing of good and quality furniture such as chairs, tables, wardrobes, cabinets, bed frames, and so on.
In South Africa alone, the total revenue generated in the furniture&home-ware segment amounts to $310 million. This is expected to give an annual growth rate of about10.4%, resulting in a market volume of $461 million by 2022.
20. Food Processing- Africans are good patronisers of processed food.
Africans are great consumers of processed food, most especially those in urban areas. It will be a good business idea to bring in an innovative way of producing consumable processed food here in the Africa continent, a goldmine because anything food thrives very fast.
Food processing requires a lot of business capital, a good business model/plan, and an adequate amount of skilled workers who will help you achieve your business goals.
This business entity will never vanish into thin air or become irrelevant because Africans depend heavily on food consumption to increase their productivity and help them run their various day-to-day activities.
21. Haulage/Logistics- Shipments coming into Africa’s continent is on the high side and needs to be delivered to their various destinations
Haulage/Logistics business is a good business opportunity that guarantees high returns upon investments if adequately given the right approach.
Most merchandise, usually in large quantities, mainly those coming from seaports, airports, and neighbouring countries, will need to be taken to their desired location at all costs.
The service of a haulage/logistics service will be highly needed by your prospective and ideal clients.
You might want to consider purchasing either one or two trucks in good working conditions, register your business entity with bodies in charge of haulage/logistics in any given African country you want to launch your startup.
Hire an experienced and trustworthy driver who will help you operate your haulage/logistics business smoothly while staying in charge of the income and expenditures.
22. Manufacturing business- Is the next big thing; Africans are great consumers of manufactured products
Do you have any innovative business ideas in Africa’s manufacturing industry? Then you might want to start the manufacturing of products that can solve customer’s problems. Mostly all other industry depends on the manufacturing industry to help meet their needs.
Using the construction industry as an example, they need more building materials to use in their various construction works.
23. Oil&Gas Business- A fast way to massive wealth creation in Africa
The oil and gas industry is a goldmine for a good business opportunity that is mainly considered a smart business idea that makes one some quick return after a heavy investment is being made within few years.
Femi Otedola is a Nigerian business mogul and the main shareholder of publicly traded Forte Oil, an oil marketing and power generation company. Forte Oil, as of recent, has more than 500 gas stations across the country. It owns oil storage depots and manufactures its line of engine oils.
Let’s take Nigeria as a case study; her country happens to be one of the highest African oil and gas producing countries.
They are lots of lucrative and profitable business in the oil and gas industry here in Nigeria.
The oil and gas industry is the most carefully controlled and regulated sector in Nigeria because of the financial benefits that come with it, and it is also hazardous.
Earlier discussed, the oil and gas business in Nigeria is very capital intensive. Yet, it still guarantees quick income provided you abide by the Nigerian government’s policy and connect with the right individuals to make sure you succeed in Nigeria’s oil and gas industry.
24. Drone Business- The Rwandan’s Government are adopting the use of advanced technology
The drone, also known as uncrewed aerial vehicles(UAVs), is being used in advanced countries for a variety of use because of their fast result and accuracy that will be gotten within a short period.
Rwanda is known to be one of the underdeveloped countries in Africa. Still, when it comes to using advanced technology to solve human problems, no other African country can come close.
You might want to initiate and launch a drone company in Rwanda or any other Africa country.
Having a good business mindset is one of the only ways you’re likely to succeed in the drone business.
25. Fashion/Textile- Less focused and lucrative venture
The fashion and textile industry is a multi-million dollar business in Africa. Suppose you are an experienced and creative fashion designer. In that case, you can start your venture where you make sound, quality, and appealing attires with native Africa fabrics and market your products to the local market because they are your ideal clients(they will patronise your products the more).
You wouldn’t be making only decent money from fashion design. Still, you’re also helping promote Africa’s rich culture via fashion/textile design. This will likely attract more customers to your business, as more people know about your products. They love it, absolutely they will recommend you to their families and friends in due time your fashion business will become the newest trend in town.
Building a successful brand in the fashion industry can be pretty tough in Africa. But for Nigerian fashionpreneur Eki Okubanjo, the founder of Eki Oris Fashion Company, is positive proof that it is possible, realistic, and achievable by getting to know your customers and their specific needs.
Today, Eki Okubanjo has taken the African fashion industry to another level by creating beautiful and practical clothing for her female customers and their kids who want to look good by rocking African native attire.
The African fashion industry is a lucrative sector with many potentials for job and wealth creation, especially for women and youths.
26.Digital Marketing service
The penetration of internet usage is gradually experiencing a fast growth on the African continent compared to other years, as in 2017, there were 525 million internet users in Africa.
With these statistics, there will be an increase in web traffic, which is considered high business growth and more income for digital marketing.
Becoming a digital marketer for various brands that would love to take their business online to generate more leads and increase their clientele base is a good business opportunity in Africa.
The best way to learn digital marketing is by acquiring the best knowledge of various digital marketing services from any skill acquisition program in your locality that offers such.
Google Digital Skills for Africa is an online free course that would help you to know the basic and fundamentals of digital marketing which includes 26 modules for you explore; all this were made possible through the initiative of Google trainers, it also has well packed full of practical exercise and real-life examples to help you turn knowledge into action.
Financial Technology simply means the software and other modern technologies used by businesses that provide automated and well improved financial services.
The financial technology market is also expected to grow gradually and reach a market value worth $326 billion by 2026.
With these statistics, you are sure to break even if you can develop a unique and viable fintech business idea that will be a real game-changer in Africa’s FinTech industry.
A good initiative is Piggyvest, is a highly secure online savings platform that makes saving possible by combining discipline plus flexibility to make you grow your savings. Its head office is situated in Lagos State.
Some other Africa’s FinTech big players are Kuda, Fairmoney, Raven, and a few to mention.
28. Export locally-made African products
It might interest you to know that exporting locally made African products overseas can make you a fortune.
Reasons because most of those exported products are mainly used for production and manufacturing purposes.
Some of the most typical products you can export are ginger, cocoa, rubber, wool, palm oil, bitter kola, timber, gold, diamonds, and the rest.
Using Ghana as a case study, they are best known for cocoa farming in Africa. This product is used primarily abroad to produce beverages, chocolates, cocoa butter, and cocoa powder.
These are some of the products you can export if you’re a Ghanaian or reside in Ghana.
Gathering enough knowledge and experience from an already existing exporter will give you a better edge to know more about the business.
29. Vocational Training Institute
Do you know that you can start a vocational training institute in Africa? where you will be able to train and empower young African entrepreneurs on different skills so that they will be able to leverage those skills and set up a business of their own which in return will help build a sustainable economy
Not only will you be empowering and training young entrepreneurs, but you will also be contributing your quota towards entrepreneurship in Africa, thereby reducing the unemployment rate amongst African youths.
30. Web Hosting and Domain service
Thousands of websites and blogs are being created regularly. This calls for a need to patronise a web hosting and domain company to help businesses position their brand online on different content management systems such as WordPress, Joomla, and Wix.
Only a few African web hosting companies are of great service and good reputation because of past customer’s experience and satisfaction.
As a tech entrepreneur, you might want to start a web solution that provides various services such as domain registration, WordPress hosting, and Virtual Private Server Hosting.
Just remember this, starting this business requires experience, knowledge, intensive capital, planning, and resources to make your idea turn into reality.
During your 1st-2nd year in this business, you will might it difficult to attract customers to your business.
But in the next 5-7 years running the business, your company might become the household name when offering different web solutions as long as you have strategic plans in place already.
Remember, great business starts small.
31. Social Media App
Facebook, which is regarded as the most prominent and popular social media app globally, has also enabled users to connect to other users worldwide.
Creating an indigenous social media app that connects people from 54 African countries together in their respective languages is an innovative business idea.
A good initiative is Eskimi; it’s a mobile social networking app that is still growing in different parts of Africa.
Eskimi has over 14 million active users who have impacted countries like Nigeria, South Africa, Ghana, and Kenya.
For you to change the narrative, you should be more innovative when creating your social media app.
We need to have our own indigenous social media app too!
In Nigeria alone, transactions being made with PoS between 2019 and 2020 amounted to N1.64 trillion.
With these figures, the PoS business is not going into extinction anytime soon, but rather, it will continue to grow and boom tremendously every year.
Starting up a PoS business doesn’t require much, but you must be good with basic technology and raise some capital between a range of #100,000 and #300,000.
When choosing a company that provides the Point of Sale machine, make sure to go for the best ones that wouldn’t slow the growth of your business in terms of swift transactions to avoid you losing customers, both new and existing ones.
This business is limited to Nigerian entrepreneurs and other African entrepreneurs who want to bring this solution to their community, which will help their prospective clients perform transactions with ease.
33. African Art
The African arts are best described as the historical and modern paintings, sculptures, installations, and visual culture from different African countries.
If you’re a good and creative artist, you can create beautiful and mouth-watering African arts that will capture the heart and mind of your audience.
Your African art products can be sold in commercial areas with high traffic footage. You’re likely to attract potential customers and be sold online through your social media accounts such as Facebook, Instagram, and Twitter.
34. Animal Feed production business
The livestock feed business is regarded as one of the most lucrative and profitable agribusinesses in Nigeria and Africa at large.
Starting a livestock feed business requires enormous capital, necessary equipment, labour, packaging, and the delivery system, which will enable you to get your product to the local market.
This business is regarded as a viable one because livestock farmers highly need its product.
35. Financial Consultancy Service
The main aim of the financial consultancy service is to give people advice about investing their money and getting loans.
If you are good with finances, you can work for a firm or as a self-employed contractor either for companies or individuals.
To attract clients to your business, you need to have a good record and testimonials.
36. Event Planning and management
From weddings, conferences, concerts, corporate retreats, and birthday parties will all require the service of an event planner.
Becoming an event planner requires you to acquire enough experience, obtain a certificate(this will put you ahead of others and give you more advantage in the marketplace), network, and creativity.
Your success in this business requires you to network with people and position your brand to attract more customers to your business.
37. Production of bottle and sachet water
The sachet water business is commonly known as ‘pure water’ in Nigeria.
According to the statistics released by NAFDAC( National Agency for Food and Drug Administration and Control) in 2016, the total estimations of water consumed in Nigeria daily, ranging from bottled water to pure water, is about N8 billion.
With this figure, this business is regarded as one of the growing and booming businesses in Nigeria.
I have patronised and consumed some bottled and sachet water brands, and all I can say is that they are still much room for improvement in producing more healthy and standard bottled and sachet water.
And suppose by any means you want to start this business in Nigeria or anywhere in Africa. In that case, you must be a health practitioner, or you studied science courses because this business deals with a mixture of chemicals and is also well regulated.
If by any chance, the regulatory authorities notice any flaws in your company, you will be shut down of business and have your operating license seized. I know you that want that to happen either because people’s lives depend on you.
Your target customers, the consumers, will determine if your business will thrive or not; this will be determined through their feedback.
38. Solar Panel Sales/Installation
Solar energy is the process whereby sunlight is being transformed into electricity.
Low power supply has to be a significant problem that is being faced by most African countries.
Inadequate power supply in Nigeria has prompted many individuals, organisations, homeowners, and small businesses to adopt solar panels. Solar panel business is considered a viable business idea.
You can start a solar panel and installation company across any African country, and by so doing, you’re helping to improve the power generation sector.
Most individuals and organisations now prefer solar panels to fuel and diesel due to noise pollution.
39. Smartphone Repair service
This small-scale business is very lucrative; a good and experienced phone technician makes $17-$25 a day and, in one month, will make more than $500. This is to show you how profitable the smartphone repair business can be.
This business opportunity requires low capital to start up, considering both business location and phone repair tools.
Before starting this business, you need intensive training of 6-12months to gather enough experience and knowledge.
40. Clothing business
Dealing with the sales of both male and female wears of well-notable and quality brands anywhere in Africa is regarded as one of the most lucrative and profitable businesses because the fashion industry will continue to thrive in any given economy.
The Sub-Saharan fashion market is worth $31 billion, indicating that Nigeria accounts for 15% ($4.7 billion).
Why not start your own clothing business and have your share of the market?
With the above small business ideas in Africa I have shared with you, you should pick one or two business opportunities, ponder them, and take action.
To Your Success
God bless Africa!