No one ever said it was easy being an entrepreneur. Whether you're in the early stages of your statrup, just secured funding for your startup or you are ready for product launch, there will always be those three components when you ask yourself if this whole entrepreneur thing is worth it. Instead of giving up and throwing-in the proverbial white towel, this forum will help in giving you all the motivation you need to achieve your result.
Africa is a growing continent that
has great potential and natural resources. Because there are many business opportunities in Africa, most
entrepreneurs are now venturing in the continent.
They take this opportunity not only to gain money but also to improve the
lives of the people in that region.
To be a successful
entrepreneur in Africa, you have to look beyond the resources
the continent offers, the Gold, Diamond, Copper, Oil, Timber and many other
The term “millionaire” is taking on a new meaning in Africa.
It’s no longer just about the size of your bank account; any shady
politician, corrupt bureaucrat, or unscrupulous businessman on the continent
can easily claim to be a millionaire. But Africa’s new and emerging generation
of millionaires are not just excited about money. They’re also passionate about
impact; they want to create value that touches and improves people’s lives.
It’s called impact
entrepreneurship. It’s the new way of making money and doing good, at the
same time. It’s a model that is proving that profit and ambition do not always
have to come at another’s expense.
Remember, the bulk of Africa’s “old school” millionaires made
their money from resource extraction and sheer opportunism. Often, their wealth
had to come at the expense of the common good and the natural environment.
But Africa’s new wave of entrepreneurs are showing no keen interest in the
continent’s finite resources; its timber, gold, copper, oil and diamonds.
Rather, they’re far more interested in a much more valuable resource: problems.
Africa is a continent overwhelmed by serious problems, from unemployment
and illiteracy, to hunger and inadequate electricity. As you’re about to find
out in this article, this new generation of millionaires are focusing on the
continent’s problems because solving these problems will unlock massive streams
of wealth, jobs and prosperity for the continent. Most of these problems are
tough, widespread and decades old. But while they are scary and frustrating to
most people, entrepreneurs see them for the breathtaking opportunities they
Here are a list of 5 Businesses that are booming in the
you ready to make money in Africa? Choose agriculture. Across the world, most
farmers are financially stable, but not in Africa. There are huge business
opportunities for African youth graduates in the field of Agriculture and
Agribusiness. And that was the conclusion of the 2-day African
Youth Agripreneurs Forum that was held in April 2017 in Ibadan,
Nigeria. Helping the African Youth and other entrepreneurs achieve this
objective is rarely implemented. But wait, is agribusiness in Africa really
worth the investment? Studies have shown that agribusiness plays an enormous
role in economic development. It contributes to a more significant portion of
GDP, foreign exchange earnings, as well as employment opportunities in many
trend in Africa is pretty obvious. Agriculture accounts for more than 25% of the
African Continent’s GDP and nearly 70% of all employment in Africa. According
to the United Nations, Africa’s
economic performance over the last decade has been remarkable,
having reached an average growth of 5%. If this growth is maintained,
projections indicate Africa’s GDP should increase approximately threefold by
2030 and seven-fold by 2050, outstripping Asia’s. This makes it a massive
opportunity for entrepreneurs who want to invest in Africa and especially in
the field of agriculture. It is no wonder why the World Bank Group increased
its Annual Agriculture Investment from $4.1 billion to $6.1 billion.
In Africa alone, the IFC
is on a 5-year program to increase its investments in the
agricultural sector to over $2 billion. They can’t get it wrong, as they have a
reason for that.
imports most of her food yet most parts of the continent has favorable
conditions for farming. Farming in Africa is practiced on a small scale by poor
farmers who have no access to modern farming methods and no capital to improve
their agriculture. Investing in farming in Africa will not only earn you money
but also create job opportunities for the locals as well as increase food
For decades, waste
has been a huge and nagging problem in Africa’s urban areas. Currently, most of
the waste generated in Africa is either burned, buried or thrown away. As a
result, more than 80 percent of solid waste produced on the continent ends up
in landfills or gets dumped in water bodies.
And as the
continues to rise, the waste problem will only get worse. So, what
do we do with all the growing heaps of filthy waste before we find ourselves in
the middle of the worst environmental crisis the world has ever known?
In South Africa, the
solution appears to be to convert waste into animal feed. AgriProtein is
a business that grows maggots from waste collected from markets, households and
businesses. The maggots are processed into a highly nutritious protein
supplement that substitutes fish meal in animal feed. The company has raised up to $30 million in
funding, making it one of the best-funded insect farming businesses to date.
In Ethiopia, the
solution is to convert waste into electricity. The Repi waste
recycling factory in Addis Ababa will produce 50 megawatts of
electricity from waste collected from across the city. The facility is expected
to supply 3 million homes with electricity, and avoid the release of millions
of tons of CO2 to the atmosphere.
Across the continent,
entrepreneurs are hard at work trying to squeeze out value from waste, and in
the process, they’re creating an industry that could provide both low and
high-level jobs for thousands of people.
From the trend of waste
recycling and transformation initiatives I’ve observed, there’s only one place
this is heading to. I predict that over the next decade, waste will become a
valuable commodity that households and businesses can sell for money. And the
waste is likely to return to the food chain, to the electricity grid, or in
some other recycled form.
3. AFFORDABLE HOUSING
experiencing the world’s highest rate of rural-to-urban migration. And by 2030,
it is projected that up to 50 percent of
the continent’s population could be living in towns and cities. Urbanisation is
great, but where will all these people live? And even if the governments tried,
they cannot build homes fast enough to meet the teeming demand for
In Nigeria, Africa’s
most populous country, the housing deficit is estimated at 20 million homes. In South Africa, the
deficit stands at 2.3 million homes. Africa’s housing crisis opens a lot of
interesting opportunities for several industries; from cement production and
furniture making, to building contractors and mortgages.
It’s no surprise
Africa’s richest man, Aliko Dangote, has expanded his
presence in cement production across several countries on the
continent. His interests in cement now make up a significant portion of his net
worth. But beyond conventional housing, there is an interesting trend of homes
being built from cheap and durable alternatives, like shipping containers.
In Cape Town (South
Africa), building contractors like Berman-Kalil are
offering sustainable and affordable housing options by converting
decommissioned shipping containers into low-cost homes.
In Kenya, entrepreneurs like Denise Majani are
also converting shipping containers into amazingly creative residential and
office accommodation at half the price of contemporary housing. These
alternative options are significantly cutting down the cost of building homes,
making them affordable to a larger segment of the population. So far, most of
Africa’s housing developments have focused on the premium and elite segment of
the market. While the large margins from this segment have been very lucrative
for investors, the biggest opportunities will emerge from providing housing at
scale, and at affordable prices.
is experiencing a major deterioration in the quality of education in public
schools. This is due to corruption, poor education funding and increased
population. As a result, to ensure children get a better education, most
parents in Africa are opting for private schools.
Establishing a private school is one
of the business ideas in Africa that some entrepreneurs have already taken
advantage of, and they are making a good return
on their investments.
Education is the most powerful weapon which you can use to change the
world (Nelson Mandela). Many African countries could not meet the Millennium
Development Goal (MDG) of universal primary completion by 2015.
has been no progress when it comes to reducing the global numbers of the out-of-school
children even after years of adoption of the Sustainable
Development Goal 4 (SDG 4). According to the UNESCO Institute for
Statistics, total primary enrollment for Sub-Saharan Africa was about 101
million students, of which 10 percent (or almost 10 million students) were from
the private sector. Total secondary enrollment was 31 million students, of
which 4 million representing fourteen percent (14%) were from the private
sector. The total tertiary enrollment was 3 million students. The combination
of investment and advisory services has been very effective in meeting the
demand, including low-income families.
at cost of education In Kenya for instance, annual tuition in some schools is
as little as $60 per year (18 U.S. cents per day). In Ghana, many parents are
sending their children to private schools as an escape from poverty. Governments
are relying increasingly on the private sector to help fulfill public policy
objectives in education. Demand for private schools in Africa is still high. As
an entrepreneur, I will advise you to utilize this business opportunity in
Africa. This will help to promote accessibility to better education in Africa.
As more people continually move to the cities, there is a need to increase
urban transportation. Poor infrastructure, inefficiencies, and congestion
torment Urban dwellers as they commute within the city.
Introducing efficient, comfortable and affordable modes of transport is a
huge gap for the African nations that can earn entrepreneurs millions of money.
There is no doubt that urban transportation is one of the huge business
ideas in Africa. An example of this mode of transport is Uber.
have it now. These are just a limited list of the endless business
opportunities for the budding and vibrant youth of Africa. It doesn’t mean only
the people of Africa who can establish these businesses on the continent. For
example, entrepreneurs from United States of America (US), India, Unites
Kingdom (UK), China, Canada, Vietnam, Indonesia, France, and many other
countries are making huge investments in Africa. If you have any business idea for Africa use
the comment section below to share it. Also, if you have found this article
useful, share with your family and friends.
Being a young entrepreneur is difficult, no matter where
you are from. But in Africa, the challenges are often far more emphasised.
Resources, financing, mentorship and supporting services are even scarcer. Yet
despite this, the continent’s youth unemployment is higher than elsewhere,
and for many young Africans, entrepreneurship is less of a choice, and more of
a requisite for survival.
year the Anzisha Prize, Africa’s premier award for entrepreneurs between the
ages of 15-22, identified a handful of young entrepreneurs who are
making it in Africa. Here are some of their tips for success. 1. The most important step is the first one
Nteff Alain is the winner of the 2014 Anzisha Prize and is the entrepreneur
behind GiftedMom, an e-content platform for pregnant women.
says having an idea is easy, but turning it into reality is a whole different
story. The wall of challenges an entrepreneur faces can quickly de-motivate
someone from following through on their vision. …
Twenty percent of small businesses fail within their first year. Entrepreneurship is no walk in the park. In fact, the amount of new businesses that fail exceed the number that succeed. That’s why it’s more important than ever to create a unique product or service that helps you stand out from the rest.
However, don’t be discouraged. If you believe in your business, passion will prevail. On average, 75 percent of small-business owners are confident in their company. And why shouldn’t they be? They’ve turned their passion into profit. Yet, keep in mind it’s important not to be overly confident. Instead, take things one step at a time. Typically, 20 percent of small businesses fail in their first year, 50 percent in their fifth year and 70 percent after a decade of being in business.
A number of factors play into a business’s closing, such as location, the current market, cash flow and more. The number of reason most small businesses fail is due to cash flow, and California cities such …
We often talk a good
game in the world about how entrepreneurship is a global phenomenon. In
the last week of October, we lived it.
Headlined by Bill gates, the Microsoft giant drew some of the biggest
names in technology together with more than 1,200 entrepreneurs from 170
countries, government leaders and Silicon Valley executives to Stanford
University to put a spotlight on expanding entrepreneurship around the globe.
From the start, the call was for championing entrepreneurship to help
reduce global tensions and demonstrate a different path for youth living in
We don't often enough
connect the bottom line to efforts to make a safer world. I applaud Gates
call to action for this next generation of entrepreneurs, and those in the
current generation, to support them.
Gates proposed that the young entrepreneurs focus on three
"generational challenges": creating education tools to excite
youth who may be at risk of radicalization, build…
Étienne Arnault was born on the 5th of March 1949. He is a
French business magnate, an investor, and an art collector. Arnault is
the chairman and Chief Executive Officer (CEO) of LVMH, the world's largest
luxury-goods company. He is the richest person in France and the fourth richest
person in the world according to Forbes magazine,
with a net worth of $75.5 billion, as of March 2018. EARLY LIFE After graduation, Arnault joined his father's company,
in 1971. In 1976, he convinced his father to liquidate the construction
division of the company for 40 million French francs and to change the focus of the company to real estate.
Using the name Férinel, the new company developed a specialty in holiday
accommodation. Named the Director of Company Development in 1974, he
became the CEO in 1977. In 1979, he succeeded his father as president of the
company. CAREER In 1984, with the help of Antoine Bernheim, a senior
partner of Lazard Frères, Arnault acquired the Financière A…
Cletus M. Ibeto (born November 6, 1952) is a Nigerian businessman from the industrial city of Nnewi. He is head of The Ibeto Group, the
largest business enterprise from Nnewi, a city unique for its entrepreneurial
spirit. In the early 1980s, when the oil
crash and a
controversial importlicensing system was making a dent on the
Nigerian manufacturingenvironment, Nnewi went through a growth
period. The Ibeto Group under the Ibeto's leadership was a pace setter in the
region and nation's trading and later manufacturing development. His story
teaches that no matter how your financial situation seems at any point in life,
seeing and taking opportunities when others don’t, smart-hard work,
perseverance, and the right network can change your status for good. EARLY LIFE
22, 1966, at age 13, the highly spirited Ibeto got his school box and
provisions all packed and set for school. Unknown to him, the
academic phase of his life was about to crash, as his father decided that