African countries have always had a flair for enticing people both tourists and investor alike with their lush wildlife, nature made fascinations and its people’s cultural uniqueness. An individual will always find that they keep coming back. Africa tends to be that enchanting.
And though, the above statement is true and still holds but the reasons, why individuals keep coming to African countries, has only expanded. From just travelling to tourist sites such as Kilimanjaro and Zanzibar, people have quickly realized that they could own a little piece of the peaceful haven that is Africa.
And with that, investment into sectors that would enable Africa to grow and become self-sufficient began and continues to go on because most of these sectors remain largely untapped.
To invest and get the best out of business established in Africa, an investor should have a link to the location of interest. Someone who knows how to investigate, analyse and present the much-needed information and strategy that would propel investments in Africa forward and that is exactly what Shikana Investment and Legal advisory group represent.
Businesses Opportunities in Africa
The businesses in Africa are fast-growing and ever-evolving. And a lot of investors are looking to fund or provide capital for business in Africa to gain a percentage of the business’s future growth.
This growth is widespread as it is happening in all corners and parts of Africa and because of that, this discussion will be narrowed down to only some parts of East Africa.
Tanzania
Tanzania, the home to the elegant Mount Kilimanjaro and the calming and serene Zanzibar beaches has moved past tourism as just the only sector worthy of investment both from internal and external sources.
The Tanzanian government has been working hard to achieve its aim of self-sustainability and economic growth which is its vision for 2025
Some sectors or businesses that harbours a vast area of untapped opportunities include;
Agricultural Business
Tanzania produces products such as sugar, vegetable oil, palm oil, seeds and nuts etc. The creation of these products creates job opportunities for Tanzanians and fosters the country’s economic growth.
The seeds & nuts production and spices production is a business in Tanzania that remains largely untapped. The production, processing and exporting of these oilseeds, could provide investors with the wealth they look for.
These products are largely in demand both locally and internationally especially the sesame seeds of which importing countries such as Japan. The spice production business is similar to the nuts business. Spices like clove, pepper, chillies, cinnamon, cumin, coriander, garlic and others.
Investing in this business will not only prove lucrative but financially beneficial to those who can venture into it.
Telecommunication
The potential in this area of the economy is still largely untapped. The government in its mission to move the country forward has invested large amounts of capital and other resources into the ICT thereby enabling the country to be online but this is not only why.
The network serves a lot of digital development and infrastructure that the country benefits from such as mobile banking and online shops. And this is just starting to reach the nooks and crannies of the country.
For this goal to be achieved investors need to pour capital into the telecommunications and ICT industry. The effect will not only be beneficial directly but also indirectly to both investors and citizens.
Aviation
Every year millions of people take flights coming and going from various destinations and this creates awareness of a country’s opportunities and a reliable aviation system. The aviation sectors eat up a lot of capital for investment and generate twice as much in profits.
To the above and to make investing smooth the government is giving out licences to aviation companies willing to make the country one of their homes.
Tourism
The tourism sector has been attracting and will keep attracting tourists from far and wide and their continuous visits have only helped to increase the country’s GDP and provide job opportunity for its citizens.
It is the most or rather fastest growing sectors in Tanzania but this sector remains largely untapped.
Transport and Warehousing
For a country that produces, processes, and exports homegrown products that help to increase the GDP and provide job opportunities for its citizens, there is a great need for the development of its transport system and produce storage facilities.
The goods produced must be stored and kept for when they will be transported to local markets or exported to international markets and that is where warehousing comes in.
But before warehousing how do these goods move from one point to another without suffering any damages? Investing in and road systems will only make transporting of these goods easier and efficient.
This will help foster businesses they have in agriculture and otherwise and would lead to the increase of the GDP of the country
Uganda
Uganda, another east African country filled with tourists attractions like lake victoria, River Nile; the longest river, and the Rwenzori Mountains and wildlife reserves is also a hot spot for investors as it embodies a lot of business opportunities that fairly untapped, some of which include;
Food Production
A lot of food consumed in Uganda is imported and this has created more than enough room for investing in locally produced goods.
The demand for locally produced food is fast Rising and this gives leaves a lot of room for local and foreign investors to come in and establish facilities that would employ citizens.
These products would be prepared for exportation and would provide profit to the investors as well as revenue for the government.
Real Estate
As the population increases, so is the need for housing and shelter. Construction of housing estates, apartment complexes, residential areas, and office complexes are beginning to grow in popularity.
Building real estate is not as cost-intensive as is said to be. with a little amount of money, one can buy and develop land in Uganda for varieties of reasons.
Tourism
Uganda houses the longest river in the world; the River Nile. This river offers the best white water rafting conditions that enable rafters to have the best experiences. And a lot of tourists come from far and wide to enjoy its presence. The scenery is calming and relaxing.
Computer and Internet Services
With the world moving fast towards digitalization, Uganda is slowly but surely picking up pace as more citizens are becoming aware of the needs to become computer literate and internet expert.
This has necessitated the need for computer instruction companies/firms that are properly skilled in teaching individuals how to use the computer and order computer-based skills that would lead the country forward but at the same time create more skilled hands for digital labour both in the country and abroad.
Kenya
Kenya is known for beautiful sites like the pink flamingos at Lake Nakuru Park, the beautiful peaks at mounts Kenya and breathtaking parks like Hell’s Gate National Park but tourism is not all Kenya is good for.
Its government has since revamped its policies to allow other forms of investment opportunities to thrive in the country some of which are;
Fintech
Financial technology is a digital medium that allows people to easily gain access to financial as well as banking services. this medium reduces the amount of physical money and increases safety for finances.
But even with these technological advancements, many Kenyans do not still have access to financial technology services.
More than 70% of Kenyans use mobile phones and internet services so adding fintech to the list would align with what they already used to and this would make building a business in this sector very profitable and at the same time, it would be moving Kenyans forward technologically and financially.
Agricultural Business
The agricultural sector of Kenya has employed more than 65% of its population and this feet alone has lifted the GDP of the country.
Many Kenyans are farmers which makes investing in agricultural business profitable. since Kenya eats and exports a lot of its products, investing in the Agric business will be lucrative.
ICT
the ICT business is growing and even more attractive than ever before. it is here, in Kenya that the famous mobile payment system M-PEsa was created. and this makes Kenya a hub for ICT companies because they can thrive in this environment that is already suitable for them as a result of its high technology rate and level of expertise.
Investing in Africa
Investing in Africa can be stressful especially as the terrain may be new and different to a lot of investors. Government and cultural policies tend to be vastly different and hence the need for well-trained hands who know how to navigate and guide those seeking to invest in Africa’s many untapped opportunities.
At Shikana Group, we take you, step by step through the process. They not only scout but also thoroughly analyse the business opportunities, check government policies surrounding such business and how best it would benefit you.
Shikana Group has been working in these countries for years and this has allowed them to collect information and re-organize strategies to best assist their clients. And with this advantage on your arm, an investor can participate in any business opportunity he chooses assuredly.
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