Africa has a high potential economic sector due to its favorable climate, an abundance of natural resources, wildlife and improved macroeconomic policies. Which business is best for youth? According to verified online sources the best business in Africa for youths today is agriculture. It is a great place to invest in the farming business or sector. Although it may seem difficult to understand the African market, it is possible. This article will help to understand the African market as well as provide you with untapped business opportunities in Africa.
Top Ten Business Ideas For African Youth
To answer the question of which business is best for youths in Africa. Take note; Africa is good for any business but most people due to market and economic status of most African countrries been poor, people higly invest in Agriculture, logistics and trasnportation. Another good business venture you can start in Africa as a youth is the ecomerce which is the thrid lasrgest businesss in Africa.
Africa’s favorable climate and abundant rainfall make it a great place to start an agricultural business. Africa is well-known for its exports of agricultural products like tea, coffee, and cocoa. Agriculture is clearly an untapped opportunity in Africa. It is possible to invest in poultry farming, and either export eggs or sell them locally. You can also invest your money in beef or dairy cattle should be considered among which business is best for youth. A milk processing plant will give you the opportunity to process high-value dairy products like yogurt or cheese. Africa’s lucrative business opportunity for fish farming is also available.
The climate in Africa is favorable and agriculture has a ready market. This business is ideal for countries with a favorable agricultural climate, such as Uganda, Tanzania and Ethiopia.
2.Procurement and Logistics
Africa is lacking reliable logistics and procurement services. Local entrepreneurs can capitalize on this opportunity to start innovative logistics businesses. This sector offers a platform for entrepreneurs to bridge the gap and provide the necessary goods or services. As we continue to explore which business is best for youth, one of the most important waves of tech startups in Africa is logistics.
You need to have a large network and be creative in order to succeed in this industry. These countries include Kenya, Botswana and Congo.
Over the last few years, wealthy investors have funded logistics startups in Africa. Kobo360, a leading African logistics startup, was funded by Goldman Sachs in 2019. It received more than $30 million in 2019. Lori Systems, another African logistics startup, also raised more than $20 million that year.
This business could be of interest to governments in Africa. Find out how to apply for African government tenders. You can also be certain to get the corporate world calling your door to offer your services.
3. E-commerce Businesses
Another lucrative business idea is to sell goods and services online in Africa. Fraud is the biggest
problem. To be successful in this industry, you must find a way to eliminate fraud. This business requires a customer-friendly environment as well as adequate advertising. You can sell your products online through African marketplaces without the need to create an e-commerce site. This business can be established in Egypt, Ethiopia and Rwanda as well as Zimbabwe, Kenya, and Nigeria.
Payment platform is a major problem for African entrepreneurs looking to sell their products online. How can you get payment online from anywhere in the world? There are many options depending on where you live. These are just a few of the online payment options available for Kenyan online businesses.
4. Financial Consultancy
Africa is home to many talented and successful entrepreneurs. Every day, new businesses are being created. Financial consultancy is needed to help new investors find different ways to invest their funds. This type of business requires honesty with your clients. Many investors are discouraged from hiring financial advisors because they have been scammed in the past. This business model of learning about which business is best for youth is favorable in countries such as South Africa and Egypt with stable economies, Kenya, Nigeria, and Kenya.
Many topics are of interest to entrepreneurs, including how to benefit from investment clubs, the best African countries to invest, top investment opportunities in Kenya, investment options that pay monthly in Nigeria, and how to invest in the US stock market while you live in Africa. etc. Providing Startup Capital to Business Startups
There are many African entrepreneurs who are creative and innovative but lack the capital to start businesses. It is a smart idea to provide startup capital to African entrepreneurs. African banks charge high-interest rates and have short repayment terms, which discourages local entrepreneurs from borrowing money. You only need to research the market and determine the market’s needs.
This can make it a risky venture so you need to ensure that the startup loans you provide to customers are only used for the intended purpose. You should also work with the regulators of loans to protect your money.
5. Film and video production
Africa is home to many talented and creative actors. You should produce quality films and quality photos if you want to venture into this business. High-level services are sought by many African actors who travel to Africa. Films made in Africa are a huge hit around the globe. There are many African countries that have a ready market for film and production, including Nigeria, South Africa and Senegal.
Nigeria is home to the world’s second-largest film industry and Africa’s largest. It is second in employment after agriculture. Check out these top 11 African movies that Netflix will be streaming in 2020.
6. Real Estate
Africa’s top business idea in 2021 is real estate. Africa is experiencing a huge demand for land close to cities and small towns. Land ownership is the most desirable investment. This is the first priority for all new employees.
You can make huge profits by buying large pieces of land and subdividing them into smaller plots for resale. This is a great idea and you can expect good returns. Land does not decrease in value while demand for it is growing every day. These businesses are doing well in Kenya and Tanzania, respectively. For more information.
7. Taxi Business
A taxi company is a great business idea, especially in large cities in Africa. Taxi drivers are preferred by most high-income earners for both short and long-term trips. Employers are now hiring cabs to assist their top managers, rather than providing vehicles. Cab pick up passengers on the roadside, but it is possible to book cabbies via online apps such as Ulendo in Zambia. You must ensure your vehicle safety and pick the right clients to succeed in this industry. This business is ideal for big cities.
8. Event and Party Planning
Africans party every day. It can be stressful to plan and organize a party, especially when you have to find the right resources. It is not easy to organize and manage parties and events. Event management is a highly lucrative career in Africa if you have been looking for which business is best for youth on the continent today. For example, working professionals need to plan events properly because they don’t have the time or desire to stress about running an event.
Even if you don’t have the budget to rent an office, event management can be a profitable home-based business idea.
9. Training for employees
There is a high demand for qualified workers in the job market. The majority of African university graduates need to take additional courses in order to be ready for the job market. Those who work need to continue their skills development. There is a need for professional training institutions.
You can also train people in areas such as front office operations, digital marketing, computer lessons like Excel, monitoring and Evaluation (M&E), safety, compliance, training, HIV/AIDS at work, and accounting. This business idea works well in African countries that have established education systems such as South Africa, Zimbabwe, Kenya, and South Africa.