BUSINESS FOCUS! GOLD MINES TO TAP INTO IN AFRICA

Walking through the expanse of land that makes up 6% of the earth’s total surface area. It close to impossible to say that there are no business opportunities to explore. Africa is the world’s second largest and second most-populous continent with a population of 1,285,559,510 based on the latest United Nations estimates.

An old local businessman once told me “Seeing a large population means seeing a large stack of business opportunities.” The populace will be in constant demand of products and services and if you find yourself at a loss on what need to meet. Here are four business ideas that are lucrative and may always need an influx of newbies in its market:

Agriculture

Even if out roads are tarred in gold, we are going to continually demand food products. Growing local foodstuff and its processing are ideas worth looking at, for instance In Nigeria, one-third of all employed Nigerians find themselves working in the agricultural sector, which is one of the country’s main foreign exchange earners. Business pitched around establishing real-time market pricing of crops, easily accessible micro-insurance and financing which helps small-scale farmers increase their yields and skills, sales of seeds, fertilizers and farm products are super lucrative.

Transportation 

Have you ever wondered how easy you could make transportation for this large populace? If your answer falls in the negative then you might need to have a rethink. New and innovative ways to make transportation affordable and easier can never go wrong.

Tourism 

The  United Nations World Tourism Organization posited that tourists arrivals into Africa in the year 2010 exceeded 49 million and went beyond the 50 million mark in 2012. Billionaire Tycoon Richard Branson has also foreseen this opportunity and chosen to invest by opening his luxury safari lodge in Masai Mara, Kenya. Keying into a travel agency and hospitality is a sure way to make some profit.

Technology 

Smartphone use has doubled in Africa in 2 years (as of 2016), which is mostly due to their widespread availability and lower pricing. From looking at this statistic, it is also important to note that there has been a steady rise in the use of apps, which include (but are not limited to) dating apps, gambling apps, social media apps, news apps. There are millions of Nigerians who are interested in involving themselves in Information Communications and Technology Services. You might want to add to that number.

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