Business Partnership Ideas for Young African Entrepreneurs
As a young African entrepreneur, how can you take advantage of the several business opportunities that are coming to Africa? Did you know, for instance, that the international aid to Africa is $50 billion a year? Can you form business partnerships with international aid agencies, NGOs, the European, Chinese or American expat community? How can you take advantage of the current economic situation in Africa to grow a successful, self-sustaining and profitable small business? Well, we have 5 great Business Partnership Ideas for you. Read on to know what they are!
Start a business that provides personal service to foreigners working in Africa
Since Africa gets at least $100 billion in foreign investment and $50 in foreign aid, there are a lot of foreigners in Africa managing businesses, aid agencies or NGOs for their home countries. Here’s the thing about the European, American or Asian expat community in Africa – they are seriously loaded with cash. Is there a way you can take advantage of that?
Can you, for instance, form a business partnership with these businesses or organizations and offer services that cater to the needs of this expat community – which may include acting as agencies for hiring domestic help for them, providing legal, accounting and other services such as acting as their representatives while dealing with the local bureaucracy?
The opportunities here are limitless; you can basically start with nothing, but armed only with intelligence, good manners and a good grasp of English. How friendly you are to your clients is very important – you must be a people’s person for this sort of business.
Start a business that provides first world quality internet and mobile service
Africa suffers from a serious lack of infrastructure. As a smart young entrepreneur, you shouldn’t be disheartened by this, but take this as a terrific business opportunity. Can you form business partnerships with top companies in Asia or Europe to provide first world quality internet or mobile phone services in your city or even country? The opportunities are limitless here, as the hunger for first world quality telecom services in Africa are tremendous.
Start a business that serves construction or infrastructure workers
Africa is today a beehive of activity. Over $100 billion a year is spent on infrastructure development or construction related activities in Africa, much of it from foreign countries and companies. Is there a way you can start a business that serves the needs of the millions of construction or infrastructure workers hired by these businesses? You don’t need much capital to get started here. You just need to be smart, friendly and have a reputation for serving breakfast, lunch or snacks and other services of the highest quality.
Start a Staffing Agency in Africa
Africa may have multitudes of young men and women, but hiring the right talent from among them is a major headache for foreign companies, NGOs and aid agencies working in Africa. Can you see an opportunity here? Starting a staffing agency, perhaps? How about forming business partnerships with these companies or agencies and hiring staff for them? You will need to have a very good idea of their requirements and be very strict about maintaining the quality in the hiring. You must establish a reputation for quality and reliability if you are to be successful at this.
Start a Data Collection and Survey Agency in Africa
Organizations such as the United Nations, World Health Organization, World Bank do a lot of surveys in Africa, and require a lot of data from the field level for various reports and studies, based on which they decide how much aid is required in Africa for various areas of concern.
For example, the UNICEF would require current data on child mortality to have an idea of how much money to allocate for their maternity care programs and where the money is required the most. This offers great opportunities for you to start a survey or data collection agencies that hires local people to do surveys or collect data on behalf of these organizations. It would help if you have a degree in sociology or have prior work experience at data collection for large organizations.
This article is a part of our series on “Exploring Opportunities.” Our goal is to inform and motivate young entrepreneurs in emerging countries, and we hope this initiative helps, in its own small way. Please send us your suggestions on how we may help to serve you better. Ciao!
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