The involvement of a lease or sale of any service, product, equipment and so on, to start up a business and also enabling the owner-license as well is a Business Opportunity. This post is centered on the list of business opportunities for African graduates and entrepreneurs. An agreement and a vow are always made by the right seller or the licensor of a Business Opportunity declaring that it will protect and help the purchaser to acquire a comfortable location or source for purchaser-licensee to the service or product. However, this phenomenon is quite different compared to total independent Business put up for sale in which the vender’s required further interaction is been forfeited or no more exist.
BUSINESS OPPORTUNITIES FOR AFRICAN GRADUATES AND ENTREPRENEURS.
What the World Bank foresees about agribusiness in the nearest future of Africa is that the agricultural business by 2030 will be Worthing nothing less than $1 trillion. Statistics have clearly shown that Africa occupies fertile uncultivated fallow land mass of 60% of the world’s total land mass as in the nearest future of Africa, metals and mining under the sector of agro-processing which will be awakened, ready for exploration, operation, exploitation, and exportation. Massive scale produced by some market holders at reduced or low cost is of the fact that almost all Africa’s agricultural industries have been widely revolutionalized by the technology of this modern era. These among other reasons make agriculture one of the key business opportunities for African graduates and entrepreneurs.
Uganda, one of the prominent countries in Africa continent which is considered to be the best in agricultural practices in that is capable of feeding a population over 200million people as it’s land has been assessed by Food and Agricultural Organization of the United Nations to be graciously fertile type of land best for agriculture with unchanging annual climate and weather of two vigorous raining seasons and adaptable temperature every year. Harvesting multiple crops in the same period has been so beneficial to the Ugandans. Some of the most marketable and major cultivations are; groundnuts Coffee, sugar, cotton, sorghum, plantains, tea corn, beans, millet, tobacco, cassava, sweet potatoes, edible oils, and livestock.
Business Opportunities For African Graduates And Entrepreneur
2. Power And Renewable Energy
Africa as a continent has been the global test home for solutions to achieving satisfying and conducive climatic energy for the world. Vigorous models of green energy in the Africa continent have been undergoing testing by organizations, companies, industries, investors, and businesspersons. Somewhere in Nigeria, an academy has been launched in the sector of power renewal remarking it as the first country under the Sub-Sahara region have and run this kind of facility in train in interested people to become professionals in this field of the renewable power. The energy demands at present, grossly exceed the rate of supply from the continent of Africa currently, the demand for energy far exceeds the supply of the African continent, therefore, this gold mine was hastily rushed by businessperson and investors towards achieving and building on the opportunities of a lifetime. World Bank recent research has made it clear that households of about 80 percent still make use of firewood and charcoal, an archaic source of energy in Africa majorly for cooking, and in addition, a population ratio of one to three doesn’t have access to a power supply(electricity).
In Africa, investment in the power sector within a short period of time can turn out to be more lucrative than expected. Diverse renewable source of energy is provided and allowed for investors to make any decision of their choice either hydropower or solar and also others from the solar industry such as Stemaco, M-Kopa Solar and power have while energy is produced during yam production along the end of Ghana from waves crashing. Employment comes to reality as a good number of organizations or companies under the power sector actualize this from facilitated Africa’s solutions.
Africa is one of the fastest growing population in the world. Africa as a continent has an increased growth rate estimated to be around 2,5 percent per year as of 2017. One of the main obligations of the Government of a country to their citizens which is to carry out as human rights is a sound and Proper Education. But, due to the population growth of the continent, high demand for qualitative education has been popping up, which is barely beyond the reach and capability of the government of Africa as the demand keeps growing and increasing day by day. The available government-sponsored schools are financially poor and unstable with low or no educational amenities in place, which has made the educational industry of Africa solely focus on the support and assistance from the private business sector.
The reasons behind this over the booming demand for quality education in the continent of Africa are three in numbers which are as highlighted below;
– Businesses desperately want to increase their productivity
In the quest for maximizing the productivity and efficiency of an organization, the managerial party is always ready to invest in training their staffs or working personnel to achieve their required and desired result and goal. The major challenges faced by these firms are lack of inadequate or proper academy or institutions to conduct the proper training and lack of skilled personnel to impart the required knowledge.
– A good education is the quickest way to escape poverty
Quarter income of a poor family is spent on school fees in the Sub Saharan region of Africa, as the essence and value of education is well known to Africans which has given maximum impetus to African parent to do all and sacrifice anything they can just make sure their children acquired knowledge and have a better and greater future which gives them ultimate joy.
– Better Education is the way towards better job opportunities
The African continent has been experiencing a high rate of unemployment from time past, of which better and qualitative education is the only assurance to secure good job opportunities which have become even scarcer to get for certified graduates
Therefore, to get good job opportunities, many young lads of Africa are still longing for professional education with advanced skill acquisition training just to get employment and make them qualify for the highly rated job opportunity. The already employed ones are on the other side planning to advance themselves and career by investing and engaging in private part-time courses to upgrade their levels.
Various cities in Africa are now fast growing and developing. A publication by the African Development Bank recently published article shows that there has been a clear wide margin in the increment of an urban resident from 1950 till date with a gross hype of about 14 percent to 40 percent and even up to 50 percent.in the mid-year of 2030. Transportation comes in as one of the best business opportunities for African graduates and entrepreneurs. The transportation system has been covered with high demand thereby bringing the growth of frustration as the increasing migrant towards the urban regions continues to rise making transportation lees available.
Engaging in business under the transportation industry is a very lucrative one, especially in Africa as at this present moment is a great opportunity for a lot of entrepreneurs with the daily huge amount of unstoppable income. Businesspersons and investors of good and fast thinking ability in line with the introduction of Uber into the continent of Africa, has established a base for the loyal customer by giving, arranging and making cars available for Urban travelers. Business opportunities have been opened in Africa by companies in the transport sector making transportation available, affordable, comfortable and convenient for users to ply through to their destinations.
Magic Bus is another inspiration that started the aggravation and the expansion of Uber in Africa which is a success story today. startup inspired by the success story. There are four students of Indiana’s Earlham College who established this startup where $1 million was raised from the Hult Foundation. This initiative was base upon SMS system which gives travelers the chance to make use of their mobile phones in booking bus stations than going to the bus stations to book. mobile payment as well as doesn’t through an application called M-PESA with which users or travelers can always know the t fare amount with the distance and speed of the bus at a particular period. Magic Bus is presently working on the standardization of bus fares for hours of the very high population and low population as well prior to the attempt of the expansivity throughout Africa’s continent.
Another key business opportunities for African graduates and entrepreneurs is retail.
On the continent, if Africa, the growth experienced in the retail sector has been rapid on yearly basis with no vivid sign of coming down. The high migration of people to the urban center and the new development that has emerged as the solutions to payment activities as PayPal coming with M-PESA which are contributing strongly to the retail sector growth.
There will be variational differences among consumers in accordance with their financial capability and rate of growth. Hence, it is so much essential to choose aright the best offer and the market target.
The upward growth in the numbers of technology startups, innovation hubs, and an influx of cool investment is a proof of the great and growing business opportunities in Africa.
IDEOLOGY OF BUSINESS OPPORTUNITY IN AFRICA
Business Opportunity that tends to occur the most, entails an organization that vows and declares that the sale of bulk machines vending or purchased product is secured and protected in a location that is safe and conducive.
The organization is trusted by the buyer or purchaser to get business locations where high sales rate will be achieved by the buyer to the extent that will allow him to realize even more than the expense used in securing the business (capital) and as well be lucrative. These operations are vividly monitored under government regulations to avoid fraudulent cases of organizations not going by their agreement and vow like the purchaser or investor gets less income or profit and have been promised by the vendor that prompt the buyer to pay for the business at first.
HOW TO TAKE UP BUSINESS OPPORTUNITIES IN AFRICA
The four basic elements that make up a Business Opportunity and are all required to be available unfailingly at the same geographical area or location and equivalently at the same time lag or period before the Business Opportunity can be acclaimed, accepted and accredited. The four paramount elements are;
- A need
- A method to benefit
- A method to apply the means to fulfill the need
- The means to fulfill the need
The development of a business opportunity might not come through if by any means one of the above elements got missing with any one of the elements missing, a business opportunity. Combining these basic elements in a unique manner will result in desirable and suitable attributes. The monitoring, controlling and directing abilities and techniques utilized by an individual or organization on these elements, will warrant a better position of opportunity exploitation and as well becoming a well-suited leader in the market.
WHY AFRICA SHOULD BE CONSIDERED AS A BUSINESS OPPORTUNITY
A lot of countries around the globe have got to a stage where the development has gradually been diminishing without any visible notice. As a result of this stagnant growth, deep researches are embarked upon by great investors and businessperson to get new business ideas and opportunities. A decade and some years ago, the whole world has been expecting that the then BRIC emerges as the next El Dorado, this BRIC- Brazil, Russia, India, and China as at this time came together then to form a very strong group.
Notwithstanding, some businessman and businessperson in time past have gotten a very disappointing result due to specific entries of hurdle or the sluggish economic growth of the nation. However, the African continent which is the second continent on the plant with the largest land mass has been said to be blooming due to its high rate of growth and as well been rated among the highest in across the globe as it has been taking some steps towards development as a good number of investment and business opportunities are offered to the people.
Investors from different countries have been so much interested in the unutilized fertile fallow land of uncountable acres and the vibrant increase in the past population of families that belong, bro, the middle class. and acres of unused fertile land has been attracting investors from around the world. Heineken and Coca-Cola and Heineken are giant companies that have their benchmark already set in and on the continent and have been fathomed established and also highly and positively lucrative.
CONCLUSION ON THE LIST OF BUSINESS OPPORTUNITIES FOR AFRICAN GRADUATES AND ENTREPRENEURS
More business opportunities are strictly needed in some part of Africa as the government of Africa cannot guarantee quality education for the young ones by providing government-sponsored schools in a conducive environment with complete and adequate equipment and also quality and dedicated teachers. The private education system has provided all these qualities for young lads but surely coming with a good price which can be afforded by parents that have secured good job opportunities only. The reason why the emphasis is laid much in low-cost education is that it is the fastest sector or industry that can provide good business opportunities and as well as increase the growth and development of the continent generally.
Tags: List Of Business Opportunities For African Graduates, Entrepreneurs In Africa