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Do You Want to be an African Billionaire? You should Invest in these business opportunities

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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

waste- good business opportunities in Africa

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

drones-good business opportunities in Africa

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.

Crowd farming

farming-good business opportunities 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.

Private schools

schools-good business opportunities in Africa

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.

Urban logistics

urban logistics-good business opportunities in Africa

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.

Container houses

container houses-good business opportunities in Africa

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.

Automobiles

automobiles-good business opportunities in Africa

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

startup funding-good business opportunities in Africa

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.

 

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Afro Success Stories

African Entrepreneurs creating Jobs and Employment in Their Communities – Olasupo Abideen

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Olasupo Abideen ” My greatest achievement is being a 25yr old employer who employs 35 people and has trained 475 Others” as one of african entrepreneurs.

Meet Olasupo

I am a 25year old one of Nigerian african entrepreneurs, founder/CEO of OPAB Gas with over 6 years of transnational experience leading and working with diverse teams to facilitate youth empowerment, development projects and youth involvement in policy. I am a UNESCO ESD Young Leader, a WEF Global Shaper and a Fellow, Young Africa Leadership Initiative.

Since receiving the $5000 Seed Capital in December 2018, my Company has created employment for thirty-five (35) University undergraduates (through our Work Student and Student Ambassadorship Program), opened ‘four (4) new Gas stores’, and trained ‘four hundred and seventy-five (475) unemployed youth and corps members‘ (through our #Gasprenuer Initiative). As a means of giving back to the community, we have also helped ‘five (5) kids’ return to school through our #StreetToSchool programme for our Community.

My Humble Beginnings

I watched my mother walk long distances to gather firewood and buy coal to cook for my family in my growing up years in my village in south-west Nigeria, where I was raised. It wasn’t peculiar to my mother; this was commonplace for all families. We all knew it wasn’t safe. We knew that if it made them this uncomfortable, there was no way it was safe, but we didn’t know there were alternatives. After all, this is how our grandparents and their parents before them lived.

It bothered me to see my mother’s red eyes, and the wet eyes of other women in our rural community bothered me a lot. Even though I did not know until recently that cooking with firewood is equivalent to smoking 400 cigarettes per hour, and is one of the three causes of mortality among women and children, I knew there had to be something I could do, but I couldn’t figure it out; or better put, I did not have enough education nor access to information to figure it out.

 

My Business Idea

The Idea to start my business came from a need that I identified and solving that problem meant a business opportunity. As a student of chemistry at the University of Ilorin, I was exposed – through volunteering – to MDGs (and subsequently SDGs), and I took a keen interest in clean, renewable energy, that could be used instead of orthodox fuelling options, and one of them was Liquefied Petroleum Gas.

After a long time of advocacy for SDGs, as an undergraduate, my SDGs advocacy and youth development organization, Brain Builders International, signed an agreement with the Kwara State University’s Community Development and Entrepreneurship Centre to train young Nigerians african entrepreneurs on the Sustainable Development Goals, their benefits, and ways toward actualisation.

I noticed that every time I took the 55min trip to Kwara State University to facilitate these training sessions, I would encounter students carrying gas cylinders: either going to fill Gas in Ilorin or coming back from Ilorin after filling Gas. I later learnt that the only cooking gas supplier in the community at that time was exploiting the students by using a manual scale that could be manipulated and also selling at a rip-off price.

 

Solving the Problem

In 2017, I took a soft loan from a friend, added some of my own moneyand after conducting intense market research, filing necessary papers, and satisfying ethical and professional standards, we opened our first OPAB Gas station. The services we offered hinged on three things; convenience, safety, and trust. Students could now focus on academics, as we did not only sell gas at the standard rate, but we also offered pick-up and delivery services. We used safe measures alongside a digital scale to address the issue of trust. Within three months we had broken even.

The TEF Intervention

In 2018, I applied for the Tony Elumelu Foundation Entrepreneurship Programme but was only selected for the GIZ list to be one of the 210 beneficiaries of the training and $5000 funding. The training provided by the foundation on business planning, financial intelligence, scalability, among others could only be likened to a mini MBA.

Immediately after the training myself and my team we started discussing how to dominate the market in which we operate and capture new markets.

With the seed capital, we were able to expand our business.

 

Our Growth and Milestones as one of african entrepreneurs

  • Expansion: We have expanded the business to 6 stations in two townships to target the student populations and made over $25,000 since receiving the seed capital from the foundation.
  • Employment: Staff strength – 2 (in 2017), 35 people (2019).
  • Gas on Wheels: We now own delivery vans and offers delivery services
  • Digitization: We now take orders on the business’ website in both cities where we operate.
  • Introduced Customer Loyalty service
    • Health safety card – to educate users about safety measures.
    • Customer reward: Points reward system.
    • Holiday Promos
  • we also have a few impact initiatives that we run.
  • OPAB Gas has trained 450 Youth Corps members, unemployed youth in Kwara State on the economic merits of the Gas economy and the many opportunities that abound in the sector.
  • In line with the UN SDGs, OPAB student work experience – an internship programme where we train students. During this internship, they work on Sundays for a stipend. They then receive N10,000 for every 1000kg of gas sold.
  • OPAB gas student ambassador scheme – delivery service.

 

The Future

The vision for OPAB Gas has always been to solve energy availability and ease of use for everyone across Nigeria so we are constantly working on ways to reach out to more Nigerians.

Our OPAB telemetry solution will allow people to monitor and manage their gas usage, notify them when it is almost finished, connect them to the nearest gas stations and pay for gas with existing mobile money applications.

 

 

Contact Details

Website: https://opabgas.com

Instagram: @opabgas_

Phone call/WhatsApp: 07068775529.

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