Most countries in the world have reached a point of development slow down due to the total exhaustion of available resources. It creates the need to invest in other countries or continents. Africa, the second-largest continent, can offer business opportunities. It is due to the available acres of unused fertile land and an increased number of middle-class families. The following are business opportunities you can invest in Africa.
Local products export
Africa produces more non-food and food-based products, compared to the amount they export. Product export is a great opportunity, and you can make global brands for the items Africa is producing but not exporting, for example, Shea butter. The Shea butter producing tree grows on the bank of the river Nile and is used in most beauty products worldwide. For comprehensive product shipping, consider pallet delivery.
Agriculture contributes to more than 25% of Africa’s GDP and nearly 70% of the total employment opportunities in the continent. 60% of the uncultivated land in the world is in Africa, and most investors consider Uganda as a potential agricultural investment site. It is due to the two rainy seasonal annually and a constant temperature that favors the growth of most crops.
Affordable Private Schools
You can venture on affordable primary school, secondary, university education, vocation training programs in Africa. Africa has experienced declining education quality in public schools due to corruption and mismanagement of funds. As a result, most parents are opting for private schools. According to “The Business of Education in Africa,” it is estimated that one in four students in Africa will be enrolled in a private school by 2021. Most African parents are willing to put their children through school but get limited by the lack of affordable proper learning institutions.
Across the continent, various international and national retail brands are rapidly developing. New eCommerce retailers are also slowly creeping into the market. Multiple countries in Africa have shown great ability to sustain retail businesses. Ghana has shopping centres that can accommodate business environments. Nigeria’s significant urbanization, high population rate, and the vast market size is an excellent boost to the retail business. Kenya also has a considerable growth in the middle-class population and diverse private sectors. The overall growth rate and urbanization in most African countries will boost the retail business.
Power and renewable energy supply
Most Africa countries have limited access to electricity, and the citizens entirely depend on firewood and charcoal for domestic use, thus depleting the natural ecosystem. World Bank research shows that only one out of three Africans has access to electricity. They still struggle to maintain a steady and reliable supply due to the lack of investment and aging facilities. An entrepreneur can focus on providing renewable energy at an affordable price to the African countries.
There are still numerous unutilized business opportunities on the African continent. It is very rich in unutilized resources, but due to the lack of enough funds, the countries are attracting foreign investors worldwide. Do in-depth research before venturing into a business and study the regulations associated with a particular company in African nations.