In Africa, there is a big consumer market to appeal to and a variety of businesses can provide a supply to their demands.
Africa has a huge amount of consumers which means there is a large amount of demand waiting to be supplied.
To make money in Africa it requires a close examination of the economy and what is in demand by the consumers in order to successfully go into a business that will make a profit.
Most businesses require capital. Even if you don’t have enough to start, investors are all over the place looking for places to put their money. As long as you can put in the right effort and consistency, you are on your way to making a profit.
1. Buying and supplying of construction materials
Supplying of construction items is a great business to go into.
Infrastructure will always be needed in Africa as the continent develops daily. Whether it is schools, hospitals, offices or just residential homes, infrastructure is a sector that is forever blooming. Although it may require a substantial amount of capital, it is worth investing in as this is a business that is guaranteed to generate profit all year long.
Farming is a business that does not require a large amount of capital to start it.
Whether it is Nigeria or Ghana or even far off Kenya, investing capital in farming is a sure way to reap profit which will continue to grow consistently over time. This may require a large amount of capital if you wish to begin big but even with the smallest amount of capital, one can begin a farming business which will grow to become bigger.
3. Hotel business
Hotels are in constant demand all around Africa especially as it is a place where tourists frequently come.
The hotel business is highly competitive but it is another goldmine waiting to be tapped. You will need will need capital but what would keep you in the game is excellent management skills or hiring of people with excellent management skills.
4. Trade in thrift items
A lot of Africans would not mind purchasing thrift items if they are in good condition and of good quality. It is a business that has been shown to do well around Africa and does not require a large sum of capital in order to start.
Transportation is a business that is always going to yield profit as Africa has many people frequently commuting.
This particular business requires a lot of research about routes for different types of vehicles, government policies etc in order to successfully enter into the transportation business. Transport companies make a lot of money daily. Also to start this business you will need a substantial amount of initial capital.
6. Poultry farming
Poultry farming may be a risky business to undergo but it is highly profitable.
Poultry farming will put you in business all year-long turning your capital into millions. Even if you don’t start with many birds, you can always start with a few hundred work your way up from there. This guarantees millions if you are consistent with it.