Business ideas

10 best for-profit African business ideas

– Advertising –

Despite the impact of the pandemic, Africa’s economy is expected to grow this year, and the number of new millionaires on the continent is growing at an exponential rate; With its wealth of resources and untapped investment potential, African business opportunities could be a lucrative option for entrepreneurs, individuals and investors. Let’s take a look at the top ten possibilities for generating wealth.

  1. Recycling of solar batteries

Solar batteries are increasingly being used to power homes in Africa, creating a viable and potentially very lucrative opportunity. A business model that involves providing recycling facilities for discarded batteries would not only fill a gap in the market, but also have a significant environmental benefit.

  1. African Art

Investing in African art could be a very smart move, as the demand for contemporary works and antiques continues to rise, and this appreciation is reflected in the bid amounts for lots at auction houses such than Sotheby’s. Combined with an increase in the percentage of Africa’s population with new disposable income, making a profit could become, quite literally, an art form.

  1. Agribusiness

African agribusiness could be an extremely profitable investment; with its climate and land resources, Africa has the potential to become a giant in the food export industry, as well as having a continent’s worth of its own consumers to tap into. With likely government support, this investment could be a tremendous entrepreneurial opportunity.

“Participatory farming is already an established practice in many African countries,” says Sara Urbanska, business writer at Originwritings and Write My X. “The potential for investment in this sector, for symbiotic benefits, is rich.”

  1. Waste treatment

– Advertising –

A company that could come up with and provide a solution for waste disposal could be a winner. At present, although waste is, for the most part, regularly collected, what to do with the waste once collected is problematic. A company that, for example, creates a way to manage and recycle this household waste into renewable energy could be very profitable.

  1. Internet access provision

Investing in or starting businesses that can improve or provide internet access in Africa could be a great adventure. With internet connectivity still spotty across large parts of the continent, new initiatives in this area could be a golden ticket – with Google and Facebook already getting in on the act, the signs are optimistic.

  1. Solar energy

Africa has the perfect climate for using solar panels in homes and businesses to provide electricity, and there is a growing market for this type of energy. An investment in a solar energy business could generate huge revenue, tapping into both a sustainable energy source and an already present market demand.

  1. Card payments

When it comes to payment solutions in Africa, the entrepreneur would do well to consider this market. With cash transactions still being the backbone of day-to-day commerce, there are huge opportunities here for new innovations.

– Advertising –

Mike Skuse, project manager at 1day2write and Britstudent, suggests that “platforms that have recently been established in this market are already reaping huge profits; as an investment, it’s a viable proposition.

  1. Domestic tourism

A largely overlooked industry, intra-continental travel is a relatively untapped investment opportunity. For example, many people living in Nigeria may not be able to afford an out-of-country vacation, but have the resources for a more localized getaway or day trip. A business that could capitalize on this unmet demand could make a substantial profit.

  1. Lodging

There is currently a significant gap in the market for the provision of affordable housing, especially in urban areas, which are seeing an influx of workers moving for employment opportunities. Investing or starting a business to meet this demand is another option that could generate a good return.

ten. Invest in a start-up

With more and more innovative African companies in the start-up phase, now could be a good time to financially support a new business on the continent. With the rise of African entrepreneurs bringing new ideas, investing in a start-up can be the perfect opportunity to not only generate profits, but also make a real difference to the communities in which these businesses will operate.

Capital and community gains

Now is the perfect time to consider investing in one of the many business opportunities in Africa. The continent is brimming with innovation and potential, and is rich in culture and budding talent; it’s a chance to develop a business relationship that benefits your bottom line and the wider community.

Author: Kendra Beckley (is Business Development Manager and Editor at Assignment Writing Services and Thesis writing service. She regularly assists companies to enter new markets and build long-term relationships with their partners. Kendra also writes articles on a wide variety of topics for Do my lessons.)

Opinion: The unexpected job market created by renewable energy