When you study successful entrepreneurs you quickly realize that the majority does not stick with one business or company. Although they have achieved great success and financial independence they look for ‘the next big thing’.
Africa’s entrepreneurs are no different. And who blames them when the pool of opportunities around them is so extraordinary. I am sure many of them feel like kids in a sweet shop.
I believe that we can get much more out of it than inspiration. We can also be guided by their choices. These are people who know the continent or the countries in which they operate very well. They know what works and what doesn’t. If they make new business decisions, we can be sure that these decisions are backed up. They saw a big gap, a need, and they are getting started to fill it.
Let’s have a look what the next big projects are:
Nigeria’s and Africa’s richest man: Aliko Dangote
Known primarily for the production of cement, Dangote is expanding his plans for sugar production investing $34 million into new sugar production machinery. It was also announced recently that Mr Dangote wants to start rice production in the West Africa Region.
Here you go: Sugar and rice.
Both are widely consumed every single day across Africa, yet are to a large extent imported, because they are usually not traditional crops.
A focus on sugar or rice production in Africa is a valuable business and investment tip. You could produce it yourself if you have access to a larger plot of land, set up new farmer cooperatives, or facilitate related intra-African trade in various forms. There will be a market for it and it is growing.
Ethiopia’s shining star entrepreneur Bethlehem Tilahun
She founded SoleRebel, a shoe manufacturing company, with a team of disadvantaged local workers and locally available material, including parts of old car tyres. Bethlehem has since grown SoleRebels into a multimillion Dollar company serving customers worldwide.
According to howwemadeitinafrica.com Bethlehem is now revealing her next project: Leather Republic.
The plan is to let customers use online apps that allow them to customize the details of the product they want to buy before they can order it. These leather products will then be handcrafted by production sites across the globe, including in her country Ethiopia.
Having worked closely with pastoralist (nomadic) communities in the greater Horn of Africa region during my career in international development I can only stress how disregarded the leather industry in many African countries really is. A large part of Africa’s rural population owns animals, but a huge amount of hides ends up on small rural markets or they get thrown away. Leather – This is definitely a market with great potential for your business, especially when you focus on local manufacturing and export.
Jumia’s CEOs who founded Africa’s amazon
You may be familiar with Tunde Kehinde and Raphael Afaedor, who have founded Jumia.com. It is one of Nigeria’s most popular online retail stores, which received several millions of investment during its startup phase. The two recently left the company (the reasons were not clear), and guess what their new grand project is?
Logistics.
If you leave a million Dollar retail company to switch to logistics it is probably because you encountered so many logistical challenges during your operations that you saw a new business gold mine.
Indeed, logistics and related products and services (e.g. packaging material) are huge business in Africa and a great opportunity to get started, as it covers a wide spectrum including handling, transport, tracking etc. If you are interested in any of those, it is a great choice. Yet location will be a decisive success factor for your logistics business.
So some of the next big projects of Africa’s most successful entrepreneurs include sugar, rice, leather, and logistics.
A leading ice cream maker from Kenya seems to verify this. The lack of logistics service and access to sugar are his greatest challenges. He said:
“If you ask me what my job is today, as much as I want to say I am an ice cream maker, I am only half an ice cream maker and half a logistics manager, which is not what I would want to be. Most entrepreneurs here have to wear several hats.”
The instability of milk prices also makes planning harder.
“Milk prices can fluctuate by up to 100%. We face even more difficulty with the sugar. Every once in a while you hear that the sugar manufacturers don’t have enough sugar and there are import restrictions.”
Here is a thought for your business.
Be part of Africa’s renaissance.
Build a grand lifestyle for yourself.
And make a positive impact on the lives of others. Today.
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Great !!