According to the latest Africa Wealth Report, there are just over 160,000 millionaires in Africa. Most of the new millionaires are young entrepreneurs and investors who have created profitable businesses and invested into lucrative sectors of Africas fast-growing economies. If youre interested in joining the growing millionaire club on the African continent, here are some of Africa's leading industries that could use your skills and business acumen.
Over 600 million people on the continent dont have access to reliable electricity. Solar energy provides the best alternative for people in remote parts of Africa who are out of reach of electricity grids. You could be the next entrepreneur that takes on the challenge to light up Africa.
According to the World Bank Report, Africas agriculture and agribusiness could command a US$ 1 trillion presence in Africas regional economy by 2013. Offering up to 60% of the worlds uncultivated land, fertile soil and all year sunshine, sub-Saharan Africa has the resources to become the worlds biggest exporter of food products.
Africa is the second fastest growing market for mobile phones, after Asia. Smarphone devices such as the iPhone or Samsung are still too expensive for the average African which has created a huge opportunity for low-priced smartphones that are now hitting the African market.
Africas' internet market is also worth billions of dollars with an increasing amount of Africans having internet access. As more entrepreneurs decide to enter the internet access market by providing improved internet connection and faster speeds (especially in more rural and harsh environments), the rewards will be huge.
Africa is one of the fastest growing retail markets in the world. The large growing middle class, and an increase in local spending-power consistenly fuels the shopping trend. More physical mall locations are opening and supermarket brands like Shoprite, Game, Checkers, Woolworths, Edgars and Spar are expanding as they compete for space in the retail infrastructure developments.
The same can be observed for non-physical retail chains such as Konga (an eCommerce internet-based retail business).
Real-estate projects are emerging in almost every corner of the continent. The biggest attractions are luxury hotels and office buildings, residential homes and retail malls. In Angolas capital, Luanda, prime office rents are among the highest in the world at US$150 per sq metre per month. The key regions for real estate development on every investors agenda are Angola, Nigeria, Egypt, Mozambique, South Africa and Kenya. All of these countries are experiencing a real estate boom like never before in history.
In Africa, over $100 billion transactions are still done in cash annually. This presents an excellent financial services opportunity for entrepreneurs. Since M-Pesa was introduced in East Africa, the game-changing mobile-based money transfer and payment service has proved to be exceptionally successful. The platform handles over 200 million person-to-person transactions every year. There are still many untapped parts of Africa where an easy to use service such as M-Pesa is missing and could simplify the lives of many Africas emerging consumers.
When looking at all the lucrative sectors on the African continent, it makes sense to investigate such opportunities if youre a burgeoning investor or an entrepreneur. Leads4Africa can connect you to the right individuals within Africa's leading industries and booming economy as specialists in lead generation and creators of targeted B2B Databases - built to meet your unique requirements.