When we think about business opportunities in Africa, our minds often turn to the continent’s rich natural resources such as diamonds and gold.
But with over 1.2 billion consumers living on the continent, there has never been a better time for entrepreneurs, investors and innovators to take advantage of this largely untapped market. From food, shelter and electricity, to education, waste management and IT services, the potential for profitable businesses that also improve the lives of real people while providing infrastructure and meaningful employment is endless.
With over 60% of the world’s uncultivated fertile land located in Africa, massive potential for renewable energy solutions such as solar and wind power, extremely affordable labor, and millions of people seeking better education for themselves and their children, it’s not surprising that many African countries have some of the fastest growing economies in the world. And when you combine the annual spending of all of Africa’s consumers and businesses, you’re looking at a $4 trillion figure – and this number is growing rapidly year on year!
Africa is already home to more than 700 companies which boast annual revenue of $500 million or more – and its full potential has not even begun to be realized. Like any developing region, there are many hurdles that need to be overcome – and therefore endless scope for innovative problem-solvers and established businesses alike to step in.
One inspiring example is that of Lorna Rutto, who saw Kenya’s challenging waste disposal problem for the opportunity it was. She left her job to start her own plastic recycling business in Nairobi in 2009, and since then has created more than 500 jobs, brought in more than $250,000 in revenue, and helped to remove over 1,000 tons of plastic waste from the environment to boot! It is these very challenges that make Africa such fertile ground for growth, innovation and investment.
At Yoppen, we have the example of our founder, Ny Stephanie Telchi, who saw an opportunity for development and employment in the processes of globalization and multiculturalism in African countries, and that have progressively created employment opportunities especially for qualified women who for personal or family reasons work from their homes with their children or while traveling the world.
But with such a diverse marketplace (where some 120 million people speak French, 14 million speak Portuguese and 700 million speak English) reaching these potential consumers has its own unique challenges too! That’s where Yoppen can help. From getting your business content online, expertly translated by native speakers, to marketing your offering, our team of experts is ready to guide you every step of the way. Our services include: