Do You Want to be an African Billionaire? You should Invest in these business opportunities available in Africa. Africa is growing a new generation of millionaires who are not just elated about money. Known as impact entrepreneurs, these people want to make money and still touch the lives of people positively. What this new generation of millionaires basically want to do is to focus on problems facing the continent and find amicable solutions to them. In the process, more wealth, jobs and business opportunities will be opened for the benefit of the continent. Here are some of the unconventional ways they are making it:
Waste management is one of the biggest challenges confronting many African countries. The issue of collection, management and disposal of solid waste still features highly in major towns and cities across the region. Failure to correctly manage waste disposal has often led to flooding and the outbreak of diseases. As the continent’s population continues to increase, the waste problem will remain and even get worse. People are, therefore, finding ways to make good use of the frequent pile of rubbish. In Ethiopia, waste is being converted into electricity. The Reppie Waste-to-Energy Project will incinerate 1,400 tons of waste every day. This represents about 80 per cent of the city’s waste generation. The plant will also supply the people with 30 per cent of their household electricity needs. In South Africa, some companies are also converting waste into animal feed.
Drones have gained popularity in Africa as they are not only used widely in the movie industry to shoot aerial views but are being transformed in some few countries to address real-life challenges. In 2016, Rwanda launched the world’s first commercial drone delivery service to help distribute blood and medical supplies to remote areas within the country. The project was in partnership with US company Zipline and it was aimed at cutting the delivery of medical supplies to minutes instead of hours. It is expected to deliver up to 150 medical supplies per day, including blood, plasma, and coagulants to about 21 health facilities in rural western Rwanda. Drones are also being used to monitor deforestation and illegal mining activities to conserve Africa’s forests and wildlife. Entrepreneurs can tap into this growing drone industry to solve problems on the continent that will, in turn, create more wealth and other business prospects in Africa.
Africa spends over $30 million on food imports every year because the continent is largely made up of smallholder farmers who do not use sophisticated farming methods and lack the needed capital. But with the business of crowdfarming, all one needs to do is to invest in these rural farmers and take a share of the profits at harvest time This way, food production is enhanced, and bill on food import is reduced. Investors are also able to make much money and eventually take farmers out of poverty. In Somalia, an online marketplace and crowdfarming platform, AriFarm, allows investors from across the world to enter into the Somali livestock market.
The quality of education in public schools on the continent has often been questionable, prompting parents to send their children to private schools to get a better education. This development has led entrepreneurs to enter into that space to provide the designs needed. In Nigeria, the number of low-cost private schools in Lagos, its commercial capital, is estimated to be as high as 18,000, as compared to the 1,600 figure recorded in 2010 to 2011.
The demand for urban logistics space throughout the continent is growing, as there is an increasing number of e-commerce orders. Due to congestion and lack of effective transport systems, most people find it stressful going to town. And this is where some African entrepreneurs have taken advantage of. In Kenya, Twiga Foods uses technology to pool the orders of people and delivers them to their doorstep. With this, consumers do not have to face the hurdle of going all the way to the market. Twiga Foods is one of the largest distributors of food staples in Kenya. Last year, the company raised $10.3 million.
About 50 percent of Africa’s population could be living in towns and cities by 2025, and this is worrying, considering people might not acquire the needed accommodation to settle in. Entrepreneurs have come up with unconventional ways of building homes from cheap and durable items like shipping containers. In Kenya, entrepreneurs like Denise Majani convert shipping containers into remarkably creative residential and office accommodation. The good news is this comes at half the price of contemporary housing. Consequently, the cost of building homes is reduced, meaning, more people can afford.
African entrepreneurs are refusing to be left out in the automotive industry. After years of purchasing cars outside the continent, the trend has changed as some local engineers have taken advantage of technological advancements to venture into the car manufacturing business. Countries like Uganda, Nigeria and Ghana have already taken the lead in that regard. The interesting thing is that some of these homegrown cars are designed for the rough terrain in Africa. The Innoson Vehicle Manufacturing Company, which is the first Nigerian technology company to produce cars, has given scores of Nigerians the opportunity to purchase their own cars. Kenyan car manufacturer, Mobius Motors, is planning to introduce an affordable, but robust and classy SUV for the African mass market. The Mobius II is set to be on the road by next year, 2019. As more people continue to demand for transportation services, this will open a large number of business opportunities in Africa including spare parts dealers, auto-service shops, auto financing, among others.
Funding for startups
As more people enter into entrepreneurship on the continent, investors, both within and outside Africa, are getting attracted. Last year, African tech startups received $560 million in funding from local and international investors. This is an increase from the $366 million raised in 2016. Naspers, Africa’s biggest e-commerce and digital company, last year invested as much as $69 million investment in TakeALot, a South African e-Commerce startup.
African most Passion-Driven Social Entrepreneur
Allow us present to you the African most Passion-Driven Social Entrepreneur. Iamafropreneur team with intense focus on her gathered the most in a unique interview with Mrs Fotabe Elmine. Our goal is to have you motivated, encourage and intensify you taste and hunger towards influencing and impacting the lives of the African communities through your entrepreneurial skills.
Who is Fotabe Elmine, how did you start your career, what kind of education did you have ?
Fotabe Elmine is a passion-driven Social Entrepreneur, lecturer and corporate trainer who believes that young people and women with the right training are the future of the African continent. Elmine was born in Kumba, South West Region of Cameroon, where she grew up and attended most of her primary and secondary school. Elmine’s father was a businesses man, and her mother a civil servant/Politician.
Elmine began her professional career as a teacher of Entrepreneurship in 2008 and has since then taught over 5000 students, courses like Human Resource Management, Leadership, Entrepreneurship, Marketing, Business Leadership, Personal Branding and more. She has also trained hundreds of corporate employees all over the country. In 2009, she founded Job Shop, a human resource consulting and placement agency.
In 2011, Job Shop became a partnership and grew to serve clients, not only in Human Resources Management, but also in Finance. The firm expanded that same year and the partners created a Higher Institute of Learning. When the vision of the Organization began derailing from her initial vision, Elmine took the bold step of leaving an organization she created and worked hard to nurture for six years! A few months later, in December 2014, Elmine founded Fotabe University College, which later became Fotabe Entrepreneurial Leadership Academy. In 2015, she founded an association called “Association for the promotion of decent work for women and girls (ASSPRODEC).” That same year, she founded and Fotabe Universal Higher Institute of Cameroon. In 2016, Elmine founded a web platform to enable young people from all over the country have access to FREE examination preparation lessons and materials. Fotabe Elmine holds two Masters Degrees. One in Human Resource Management and another in Marketing and Communication from Rome Business School. She also holds an Associate degree in Business Administration, and honours group Diploma in Mnagement
and Administration, a Certificate in Psychology and Mental health, and is currently undertaking and MBA in Finance. This Mbo native from the Kupe Muanenguba Division of the South West Region of Cameroon spends her free time talking to neighbours about he kingdom of God.
You are one of the most outstanding women in Cameroon with different portfolio what is your secret?
My secret is my appreciation for the creator’s gift of intelligence, my passion for the things I believe in, and my desire to work hard in order to bring out the best in others. I am very convinced that Cameroon has the potentials, not only in terms of natural resources, but most especially in terms of Human capital, to emerge.
3- What are your challenges and successes?
Well, the greatest challenge I deal with is not having the financial means to touch all the lives I’d love to touch. Besides the financial constraint, I am also seriously challenged by the mentality of the young people and the families I try to support. Many of them plainly do not believe an individual like myself can bring any meaningful and lasting contribution to their existence. They trust the government to do it. However, staying consistent to our mission is gradually changing their mindset of many. I’ve had many successes I’m thankful for. Top amongst them is the fact that I’ve been able to share my passion, knowledge and experience with thousands of young people and corporate entrepreneurs. I’m happy to
have helped small businesses to grow and thrive. Even though the current crisis in the North West and South West Regions of Cameroon have slowed down our work, I’m particularly happy I led the initiative called “Kansas Hill” aimed at making Bamenda the most Socially Responsible city in the Country.
We provided a FREE internet-equipped space for young people to enable them develop their knowledge and passion in social Entrepreneurship. I’m also happy to have helped women and young people discover their full potential. But most especially, I’m thankful I am lending my little contribution to encourage women and girls to take back their dignity by raising my voice against illegal migration to some Middle Eastern countries and to other countries in the world where women’s rights are not respected.
You are the initiator and organiser of FELA’s Entrepreneurial leadership forum, what are your objectives?
Simply to inspire and train young people to become entrepreneurs and leaders in their communities. I believe that Africa needs to focus on raising more entrepreneurial leaders.
I want every young person who attends the forum to understand that and to put it into
use. And so far, the almost 400 youths who have passed through the forum are creating
great impact in their communities.
What advice do you have for our readers and the young girls who want to follow your path?
My advice to young girls: “You have enormous potentials. Work hard, do what you’re
passionate about. Keep your dignity and do not be afraid to stand up for what is right. And
remember the most successful woman is the woman who helps other women to be successful.”
To young people all around the country, be responsible, law abiding and daring. We have a country to build. If not us, who? If not now, when?
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