30 Profitable Business Ideas for Africans
Are you in search of profitable business ideas you can start? Did you know that six out of ten fast-growing countries in the world are African countries? The African continent has experienced a significant improvement despite the lack of infrastructure, increased corruption, and other ills. In no particular order, let’s explore 30 profitable business ideas for Africans.
Event Planning:
This is a very profitable business idea for Africans. Why? In countries like Nigeria, events are held every single day. From parties to seminars, weddings and so much more. If you’ve ever dreamt of being an event planner for a huge event, then this business might be for you.
Catering business:
Catering is a business that never goes out of fashion. You will always find people in need of food. You could open your catering business in the form of a local restaurant or decide to do door to door delivery services. Either way, catering is very profitable.
Baking business:
Think of cakes, pastries, bread and all the delicious sweets. Baking is evergreen and profitable. You can start up a baking business and bake cakes for weddings and birthdays and make lots of profit.
Transportation:
There is no better time to go into the transportation business than right now. The African continent continues to increase in population, and people will always need transportation to get around. Businesses like Uber and Taxify are examples of transportation business.
Agribusiness:
Africa owns 60% of the world’s arable land, yet farmers do not have access to funds. This can lead to shortage of food in African countries. This is why Agribusiness is thriving today. Have you heard of Crowdfunding? This is where a community pulls funds to help farmers and in turn get food supply during harvest.
Real Estate:
As more people migrate to urban cities, the need for affordable housing grows. Despite the Government’s effort to provide this, there is still a need to build more houses which makes this one of the most profitable business ideas for Africans in business.
Social Media Management:
Social media has become a strong tool and strategy for marketing. Most businesses, whether a small business or a large business, incorporate social media into their marketing, hence the need for social media managers. You can start up your own social media management company and help businesses manage their pages for profit.
Graphic designing:
Are you skilled in graphic designing? You can start up your own graphic designing business and help businesses communicate using graphics. You can help these businesses design a logo or a business card and make a profit.
Fashion designing:
The fashion industry in Africa is becoming huge. If you love fashion, then this is another profitable business idea you can take up. You can make beautiful clothes and sell them to people who need them.
Jewelry business:
This is another profitable business idea you can go into. Most women in Africa love jewelry. You can make beads or other kinds of jewelry and sell them to women to make a profit.
POS business (Point of Sale):
There are locations far away from urban cities where banks are located. You can position your POS business in these locations and offer POS services to people in that location. With the POS, you can offer withdrawal and e-payment services to people.
Affiliate marketing:
Affiliate marketing is a business where you sell other people’s products and get a commission based on every sale. You can do this without a website or not, but it’s advisable to have a website.
Solar energy installation:
You can solve the problem of electricity in Africa by installing solar panels in people’s homes. Solar panels are widely used in the Northern part of Nigeria.
Photography:
Photography is super profitable today, and tapping into this can mean lots of profit in business. You can take fabulous pictures at different events like birthdays, weddings and so on.
Makeup Artist:
The beauty industry has skyrocketed in the last decade. Makeup artistry has become a popular business in Africa. You can start up a makeup business and make women up for whatever occasion they want.
Tutoring:
If you love to teach, this is a business idea you should look into. Most parents want a lesson teacher to help their child scale the upcoming exam. People need classes in various areas of career and skill. You can offer tutorial classes online or decide to give home tutoring to students
E-commerce:
This is one business that keeps growing each year and will only get bigger in the new decade. People are more accustomed to shopping online now more than ever. You can open an online store to meet the needs of consumers. It could be food, clothing, cosmetics, etc.
Freelancing:
Due to the high cost of hiring full-time employees, startups are outsourcing their work to minimize expenses and maximize profits. You could tap into this growing industry and work as a freelance writer, graphic designer, video editor, photographer, and so on.
Software development:
Software developers create, test, and maintain software. With the advancement of technology, software development is a profitable business venture today. You could start up your own software development company and help companies solve software related issues.
Writing:
This is a business that is now on the rise more than ever. You can start up your writing job and help companies create content, write blogs and articles.
Resume/CV writing:
One of the criteria for employability is a well-formed CV. People will pay you to get them a better chance in the labour market. You can help people write award-winning CVs.
Laundry service:
This is also a profitable business idea for Africans. You can start up your own laundry business and offer laundry services to clients. It is profitable and easy to start
Waste recycling:
Waste continues to increase in Africa. Interestingly some African countries are taking advantage of it. Agriprotein is a South African invention that turns collected waste into animal feeds. In Ethiopia, they collect the waste from their cities and convert it into energy. This has allowed companies to provide electricity for millions of people.
Logistics service:
People are accustomed to getting goods delivered to their homes, and most companies are now including delivery services. You can start up your own logistics company and help businesses deliver goods to their customers.
Film production:
The film industry continues to skyrocket in Africa. You can join the train of talented creative actors and produce award winning films.
Startup financing:
International investors have since been investing in businesses, whether it is a small business or large business. You can invest in a startup business and get returns on your investment over time.
Drones business:
Drones are an essential part of many businesses. Drones are used in farmlands, logistics and humanitarian services. You can go into the Drone business and help solve business problems.
Sports betting:
Africa is a continent that loves sports and games. You can start up your own sports betting business and be sure to get lots of customers.
Fintech Business:
You can invest in Fintech and get profitable returns in the long run. Examples of Fintech businesses include Piggyvest, Cowryrise, etc.
Carwash business:
People barely have time to wash their cash because of their busy schedules. You can set up your own car wash business and help people wash their cars.
So that’s it! Those are 30 profitable business ideas for Africans that you can start today! Do you have questions or suggestions on SMEs in Africa? Kindly drop them in the comments section below!
