The Next Wave of African Success: 25 Profitable Business Ideas for Africans 2023...
[Music] African economies are expanding quickly and their consumer markets are growing more sophisticated this puts Africa in a prime position to offer a wide range of commercial and investment options entrepreneurs business people and investors are looking for profitable Ventures with little risk because let's face it everyone wants to be successful and you know what they say if you want to bake a cake you have to break some eggs truly there is no business without an element of risk which is why we have gone through the trouble of coming up with the best low-risk business opportunities you can try in Africa come 2023 [Music] 25. packed food processing food processing and the production of packaged foods are particularly profitable Industries in Africa for two reasons first due to urbanization and population growth consumer demand is rising customers with the means to buy packaged foods are more prevalent in urban regions for instance more than 100 million people live in metropolitan areas in Nigeria alone the majority of packaged food items are also imported from other nations there is not enough Supply on the Home Market and there is little competition trade keems group launched a confectionary product production plan in Zambia where they were successful in securing a sizable market share [Music] 24. Maize and wheat Milling wheat and Maize are two crucial grains for the population's nourishment both crops produce large yields and can be found in many African nations customers in the East and Southern African regions consume a lot of maize meal which is also known by the names ugali ijima Fufu obusuma and mealy meal the following three factors make the Maize and wheat Milling industry in sun-saharan African nations a particularly valuable Economic Opportunity many African nations already cultivate Maize and wheat raw materials are available and are reasonably priced the activities required to run a mill are not tricky the factory equipment is dependable and after obtaining training the employees May begin working 23 installing solar street lights now you may be wondering exactly how installing Silver street lights will make you money don't worry the explanation is simple facts to improved solar panels and the energy effectiveness of LED bulbs solar Street lighting technology has become quite effective due to the following factors solar street lights in African nations are preferable to traditional street lights numerous African nations National Grids are experiencing an electrical crisis the addition of traditional Street lighting can make this issue worse the installation of the National Grid or ongoing maintenance is not necessary for solar Street lighting solar street lights are really simple to set up and use on private properties such as residential sites companies warehouses Recreation spaces Etc solar LED street lights can be installed by someone with moderate expertise [Music] 22. installing solar water heaters solar is being mentioned again here so if you're not in the Solar business then you don't know the business free hot water is provided for homes and businesses via solar water heating equipment after the initial installation homeowners just pay a small amount for upkeep and have free access to hot water installation is simple and comes with solar water heaters in Africa the average number of sunny days is high many nations experience year-round direct sunlight with no freezing issues it is a technology that is reasonably priced there are going to be a lot of homes and businesses that want solar water heaters deep technical expertise is not necessary for the installation one person just needs three days of training before he is capable of overseeing the installation of new units [Music] 21. water purification in Africa it is critical to treat and purify the water there are huge potential in providing clean water to households yet many people only have limited access to it water filtration uses a variety of Technologies and the equipment varies in size and capacity many isolated Villages lack access to potable water the funding for the construction of clean water delivery infrastructure is provided by the government and international humanitarian organizations in African cities middle class households like purifying their tap water small water purifiers for the house are available for sale to African customers regular maintenance and inspection of water treatment systems create new revenue streams for instance Revenue can be produced from both the system's initial sale and the contractual maintenance plan 20. distribution of fast-moving consumer goods Africa's retail industry is becoming more formal and up to date existing grocery store companies are branching out into new nations and they need local Distributors to stock the shelves African distribution companies will operate in a lucrative Market as per capita income and population growth increase you should think about making an investment in the distribution of fast-moving consumer goods for a few reasons the retail industry of today's evolving middle class Shoppers favor going to supermarkets and grocery stores over Street vendors these supermarkets and grocery stores require an effective supply chain and distribution system many International companies are considering exporting their goods to African nations to get their products to the final customers these businesses require powerful local distributors [Music] 19. furniture and home accessories store
Africa's average per capita income is increasing Tanzania is one of many nations that have moved into the medium income range spending on homes and accessories increases with income one of the industries that directly grows when income levels rise is the furniture industry here are some reasons why the furniture industry presents lucrative potential for African firms the number of people with middle class incomes and the average income are both Rising more money is anticipated to be spent on furnishings and home decor consumer preferences are changing and many wealthy people are requesting upscale furniture and decor for their homes and offices in sub-Saharan African nations there is not enough Furniture available due to a scarcity of wholesalers the products currently on the market are quite pricey there is a lot of room for profit foreign [Music] distribution of baby and children's products sub-Saharan African nations have fairly young populations in Africa the average age is 19.7 the median age in Niger and Uganda is just 16 years old Africa's youthful population presents prospects for infant care and kid items why you should become a distributor of infant care items and import them Africa's population is quite young there is a high fertility rate the consumer Market increases as a result the amount of baby care items produced locally is insufficient numerous goods are imported and offered for sale at exorbitant prices new Regional Distributors can devise a successful strategy for selling their goods this Market will always exist 17. distribution of consumer electronics in Africa consumer gadgets are getting more popular TVs smartphones PCS home appliances and various accessories are all types of consumer electronics in Africa there is a rising need for all kinds of electronics as digitalization continues many nations have converted to 4G Networks younger populations have adopted of technological and electronic devices there is also the development of the national electrical grid and 4G networks infrastructure as such cheap electronic accessories are a result of increased production efficiency and scale 16. cosmetics and makeup products
African marketplaces present excellent potential for vendors of cosmetics and makeup items in the future more and more people are anticipated to be able to afford cosmetic and makeup items due to Rising income levels Additionally the usage of Cosmetics products is rising in line with current trends the reasons listed below help us see this sector's enormous potential in Africa both the population and the level of income are rising a large number of people are moving from low to Middle income levels the demand for cosmetics and Beauty items will rise as a result Cosmetics sell quickly and move quickly they last a long time and don't degrade quickly without any flaws they can be stored on the shelf for a while [Music] 15. fashion apparel and clothing the expansion of the country's economy has a strong correlation with the business sector of clothing there is a big need for clothing and apparel in African nations yet there aren't many reputable retailers offering quality items a significant opportunity exists for African businesses the benefits of creating an African fashion brand are listed below African buyers strive for higher quality textile products and follow fashion trends Chinese textiles are inexpensive but of poor quality European brands are of a high caliber yet they are too pricey for the general public in comparison to other Industries clothing customization is simpler custom branding for your items is possible at a slight cost premium you can develop your brand with a smaller Financial commitment and fewer stocks [Music] 14. agricultural Machinery dealership the most significant economic activity in Africa is agriculture about two-thirds of the working population on the continent are employed there for African nations agriculture accounts for 30 percent to sixty percent of export value and 30 to 60 percent of GDP on average however just roughly six percent of Africa's total geographical area is considered to be arable subsistence farming has dominated the agricultural sector which has relied heavily on the infective shifting cropping practice however there is a trend toward modern farming using technical equipment due to government policies due to the following benefits a dealership for agricultural machinery and equipment is a very successful business demand for agricultural products Rises as the population grows governments and private investors must make greater investments in agriculture to keep up with demand International Aid agencies also advocate for cutting-edge and sustainable farming practices they set aside money to buy cutting-edge equipment [Music] 13. mining equipment repair and spare parts supplier Africa has the largest mining sector in the entire Globe manual production and expiration are important to the economies of many African nations in terms of bauxite Cobalt diamonds phosphate platinum and vermiculite mineral reserves Africa comes in the top three Africa exports to the rest of the world bauxite Cobalt nickel Platinum uranium and platinum these mines machinery and equipment require routine maintenance and spare parts the following benefits make it a viable company concept to provide and repair mining machines and Equipment the mining industry is a major source of income for many African nations because they are so important to the economy the machines in these mines must be maintained for instance 85 percent of botswana's export earnings come from diamonds 12. Thai recycling recycling of waste
and scraps is a crucial industry for the future viability of the global economy additionally governments and organizations dedicated to International Development strongly support recycling projects in Africa they offer financial support and incentive programs to encourage recycling initiatives tire recycling is a highly lucrative business concept for African decision makers all of the African nations are seeing an increase in the number of vehicles and trucks there are more than 12 million cars just in Nigeria this number exceeds 3 million in Kenya tires typically last four years this indicates that just in Nigeria there are more than 12 million trash tires investment in waste tire recycling plants is made possible by government incentives and support from foreign development organizations a program for the collection and recycling of used tires in Africa is run by Reed Elisa the recycling and economic development initiative of South Africa other sub-Saharan African nations also offer sustainability grants 11. [Music] biomass and biodiesel facility governments and investors in the business sector in Africa carefully examine the prospects in biofuels utilizing biofuels like biodiesel and biogas helps the economy and creates jobs they can meet the demand of neighboring countries and are a significant source of Revenue Africa benefits from a wealth of natural resources and inexpensive labor a green product biofuels many aspects of the economy can benefit from the usage of biogas and biodiesel including heating organic fertilizers and transportation fuel when compared to investments in fossil fuels the cost of processing biodiesel and biogas is not very high [Music] 10. concrete brick and paver making factory construction Endeavors are crucial to the economies of African nations over the past 10 years there has been a steady increase in construction activity particularly in Nigeria Zambia Angola and Namibia sub-Saharan Africa the fastest growing region in the world has the fastest growing construction industry rising at 6.5 percent annually every infrastructure and construction project uses bricks and paver stones here are some reasons why purchasing concrete brick making equipment is a very successful business venture in Africa Africa's construction industry is flourishing as a result of urban residential and infrastructure development the market is ideal for selling paver stones and Bricks [Music] 9. mobile and tower crane rental Tower
and mobile cranes are employed in a variety of settings including factories ports and building sites due to their convenience and usefulness telescopic cranes improve operational efficiency booms and cranes can be employed in a variety of tasks and have lower costs it might be a good idea to buy cranes and Lease them to project owners in Africa crane leasing businesses are still uncommon as a result of ongoing infrastructure initiatives demand is high for investors it is a less Cutthroat industry all year long mobile cranes can be rented you can either rent just the crane or the crane and the operator depending on your rental business's plan [Music] 8. stationary and mobile concrete etching plant rental concrete for construction projects is produced by permanent and mobile concrete mixing plants large-scale long-term projects typically require stationary concrete patching facilities smaller projects use mobile batching plants which are also easily moved to other locations in Africa importing batching plants and renting them out for domestic projects is a successful business strategy the building industry is still not entirely mechanized in Africa projects might benefit from owning concrete batching units in terms of cost and timeliness the apparatus will be purchased from the project Developers for a sizable sum foreign asphalt road paving contractor the development of Africa's economies depends heavily on the continent's transportation infrastructure in Africa a network of asphalt roads is being built every African nation is now working on New Road construction projects asphalt paving activities require the use of local contractors recently Angola received more than 200 million dollars the construction of New Roads a new bridge over the river Congo is being considered by a Congo browned Africa there are numerous further ongoing road construction projects there are numerous government bid opportunities for building new asphalt roads the expansion of Africa's transportation system is also supported by Foreign development agencies and development Banks [Music] 6. General distributor of aluminum composite panel architectural facade cladding interior design ceiling coverings door panels and partition systems advertising and Direction boards tunnels display areas and partition walls are just a few of the applications for aluminum composite panels the following benefits make the General Distribution of aluminum composite panels a lucrative business option the aluminum composite panel provides excellent strength and stiffness characteristics it has strong resistance to UV radiation and the outside weather it performs both acidically and basically under challenging external environmental conditions they have a wide range of uses because of this aluminum composite panels does not require extensive expertise or understanding to conduct business since the goods are standardized Distributing them to customers is simple [Music] 5. exclusive distributor of pprc and PVC pipes and fittings for Clean Water and Wastewater systems in buildings pprc and PVC or polypropylene random copolymer and polyvinyl chloride pipes are frequently utilized offering several prospects to African investors is being a general distributor of pipes and fittings PVC and pprc pipes are required for water circulation in all modern structures there is a significant demand for these pipes and fittings in Africa due to the construction of contemporary buildings [Music] 4. Logistics with fuel and LPG tankers due to the acceptance of automobiles and the development of new industrial factories Africa's energy demand is rising to various regions of African nations Fuel and LPG must be carried in sub-Saharan Africa purchasing Fuel and LPG tankers can be quite profitable Africa is using an increasing number of automobiles new gas stations have opened in various places including isolated areas LPG tankers and fuel tankers are necessary for gas suppliers to carry their goods the conveyance of energy resources does not use pipe systems transporting them is best done with fuel and LPG tankers [Music] free digital and online sales in Africa the consumer Market in Africa is expanding quickly there are numerous potential in digital and online sales in Africa as a result of the adoption of digitalization and the Internet by 2025 there will likely be 600 million mobile internet users worldwide online sales for accessories Electronics kitchenware and clothes are readily available sub-Saharan African nations have seen tremendous increase in smartphone and internet adoption more people will shop online as a result changing shopping Trends comparing online with offline sales the former is more profitable physical stores are not required for investors all they require is a warehouse an internet store and effective Logistics 2. professional cleaning and Security
Services in both European and American nations Outsourcing cleaning and Security Services is a popular practice Africa is also embracing this style particularly in Cape Town Johannesburg narody and Dakar many businesses prefer to contract with experienced firms to handle their security and housekeeping needs a professional cleaning and security Outsourcing business is something African business owners should think about starting the sophistication of businesses is increasing internal Personnel handle key business functions however cleaning and security tasks are delegated to qualify businesses large African cities are currently seeing this trend the cost of Labor is inexpensive in Africa and there is little formal training needed for cleaning work in this region starting a service business is comparatively simple one African art the collection of historic African artwork from Mali Gaben the Congo and Liberia was auctioned at Sotheby's in New York in November 2020 for a record-breaking 41 million dollars the amount received from the sale of African art in the USA is the highest amount ever a series of wooden sculptures by Nigerian artist Ben n one Wu was sold in London for more than five hundred thousand dollars which was three times the anticipated price El anasui's artwork new world map made of aluminum and copper sold for over 767 thousand dollars making it one of the highest sums ever paid for a piece by an indigenous African artist we hope we've provided you with a wide enough base to begin your business aspirations in 2023 and now all that is left to say is good luck in your business ventures and gold speed thanks for watching make sure to subscribe and hit the like button so you don't miss any of our upcoming content See you in the next video [Music] thank you [Music] [Applause] [Music]