1. Start a Business on the Ground
This is for you if you are planning to relocate to Africa or you still want to keep your residence abroad, but you do not mind the frequent travelling between the continent and your home base.Starting a business in Africa on the ground is probably the most challenging, but also the most rewarding avenue you can take when you plan to get engaged in Africa's economic development. This business model requires that you have some start-up capital and a strong vision in hand to drive you forward!
2. Export African Goods
This is a great business model if you want to run your operations mainly from abroad, but you still want to do business with Africa that serves the continent. African nations want to increase their exports (and decrease imports!) and hence they constantly seek markets and buyers abroad. This is where you come in! Choose the right product and supplier and you can be in business fast building your portfolio. Great for flexibility and shoestring budget!
3. Invest in an Existing Local Company
There are many small and medium-sized local companies across Africa that are already successful, they just need some capital injection and capacity building to get them to the next stage. My tip is to find such companies in low risk/high opportunity markets (countries) to cut down both time and risk for your investment. You can start investing from as little as $10,000 and be well on your way to making a healthy return long-term.
4. Start a Training Company for Africa
This is an excellent business opportunity if you have an expertise or talent that others in Africa would need in order to start, grow, or better manage a business themselves. Almost everything counts across industries. Seriously, you could start teaching management skills or cake decoration! Arrange several training events over a couple of weeks – twice a year, every quarter, or bi-monthly and you are in business while being in total control of your schedule. Great for flexibility, shoestring budget, and quick income!
5. Run African Industry Events
If you can't really travel that often (maybe you have small children) organizing African industry or networking events in your country of your residency is a great way to start your own business while serving Africa. It is also a fantastic strategy to grow your network in no time, believe me, new opportunities will arise just from those connections. You can always run events in Africa at a later time if you want to. Great for flexibility and fast income!
6. Start an Online Business around African Goods or Services
Media, entertainment, training, marketing, service provision, or selling goods online – all is possible! But don't forget that this should not be merely focused around your passion, but that you will need to monetize. Important for that to happen is that you provide a good solution to a very precise need or problem that your target group faces and that this group ( be it in Africa or abroad) is actually ready to buy online. Great for flexibility and shoestring budget!
Best for the Diaspora: Start Fast With These 6 Africa Business Models
How You Can Start A Profitable Business In 3 Months From Anywhere In The World.
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