If you are in Africa and you don’t have a Job, don’t sit back at home waiting to get employment because there are a hundred and one businesses to tap into and become a millionaire in little or no time. So if you are in take this time and go through the 5 business opportunities in Africa that can fetch you millions in no distant time.
The latest Africa Wealth Report by New World Wealth reveals there are now about an estimated 160,000 millionaires in Africa. Africa is a highly blessed and resourceful continent with the great return on investments if you can be able to plan and tap into the huge market.
However, the challenges being faced by a lot of people is knowing the right business ideas to invest in. It may be a bit more challenging for those who may not fully understand the African market and different sectors to invest in. Here is a list of opportunities that can make your dream come true.
5 Business Opportunities In Africa | Ultimate Millionaires Guide
Africa is well known for agriculture and most of the countries largely depend on agriculture as the major source of income and foreign exchange and any investment in this sector has the potential to scale up and become highly profitable.
The opportunities in Africa’s food and agribusiness space remain huge and will not go out of fashion anytime soon. It is one the best 5 business opportunities in Africa that has a large demand and available market.
Media and entertainment
Africa’s film industry has become a global and cultural phenomenon that serves an audience that’s hungry for African stories of love, drama, intrigue, comedy, action and more. It’s not a new news that Nigeria’s movie industry “Nollywood” is currently the third largest in the world after Hollywood and India’s “Bollywood”.
Take, for instance, Africa releases hundreds of films every year but 30 days in Atlanta totally changed the game. 30 Days in Atlanta‘ is a Nigerian romantic comedy film released in late 2014, Just seven weeks after its release, ’30 Days in Atlanta’ grossed over $500,000! It’s the largest revenues ever made by a single African movie!
In deed, this is great news for the continent and inspired a lot of people in that field to work harder as that alone was a sign of more highs grossing blockbusters to come!
All kinds of apparel, including locally-made fabrics and imported designer labels, have become hot-selling products across Africa’s rapidly expanding urban areas. Africa’s fashion and beauty market is rapidly developing at an increasing pace.
The continent’s overwhelmingly young population provides a ready market for trendy fashion. Africa has hundreds of rising fashion designers who are building successful businesses in the fashion and beauty industry, you could be part of them.
If you were born in the 80’s or 90’s you will be conversant with terracotta head and so on.
How much do you think those art works is worth these days?
Alright, this will shock you.
In November 2014, a collection of antique African art from Mali, Gabon, Congo, and Liberia sold in New York at Sotheby’s for a record-breaking price of $41 million. This is the largest sum ever, from the sale of African art in the USA.
Not too long ago, a set of wooden sculptures by the Nigerian artist Ben Enwonwu sold in London for over $500,000, three times the expected price.
New World Map, the aluminum and copper sculpture of El Anatsui, the Ghanaian artist, sold for roughly $767,000, one of the highest prices ever fetched by the work of an indigenous African artist.
After decades of neglect, both antique and contemporary works of African art are attracting high prices in the world’s major art markets. So you can do the maths.
Africa’s retail market is going through a monumental shift. Retail is gradually moving away from informal trading in open markets to organized retail in shopping malls and online stores.
Africa’s retail market is a multi-billion dollar business opportunity. In addition to its over 1 billion population, more Africans are buying stuff due to their growing economies, rising middle class, and rapid urbanization.
Africa’s homegrown supermarket chains like Shoprite, Game, Woolworths etc are entering more countries and are spreading fast across the continent.
Jumia, one of Africa’s fastest growing online retail businesses, is now worth more than $500 million. With a presence in several African countries including Egypt, Cote D’Ivoire, and Nigeria, Jumia is best fit the “Amazon of Africa.”
Don’t wait until you have millions of naira before you venture into retail services. The so that small retail business of yours might be the Amazon of the future.
Now you have the best 5 business opportunities in Africa, take advantage of them and become the dream independent entrepreneur you ever wished to be.