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| photo courtesy of suratisweetmart.com |
Retail
Africa’s retail
market is a multi-billion dollar business opportunity. In addition to its over
1 billion population, more Africans are buying stuff due to their growing
economies, rising middle class and rapid urbanization.
Africa’s retail
market is going through a monumental shift. Retail is gradually moving away
from informal trading in open markets to organized retail in shopping malls and
online stores. Africa’s home-grown supermarket chains like Shoprite, Game,
Woolworths and Nakumatt are entering more countries and are spreading fast
across the continent.
The growth in
Africa’s online retail market is more breath-taking. Jumia, one of Africa’s
fastest growing online retail businesses, is now worth more than $500 million,
it only launched in 2012! With a presence in several African countries
including Egypt, Cote D’Ivoire and Nigeria, Jumia is now regarded as the
“Amazon of Africa.”
Despite the boom in
online retail in Africa, this segment currently makes up less than 5 percent of
the continent’s entire retail market. There’s still a lot of room in this space
to serve the African market and a lot of money will be made in the process.
Seizing Africa’s
Retail Opportunities is a detailed report that takes an interesting look at the
opportunities in Africa’s retail industry. According to the report, Rwanda,
Nigeria, Namibia, Tanzania, Gabon, Ghana, South Africa, Botswana, Mozambique,
and Ethiopia currently provide the best retail opportunities in Africa.
Fashion
& Beauty
Africa’s fashion and
beauty market is developing at an impressive rate. The continent’s
overwhelmingly young population provides a ready market for trendy fashion. All
kinds of apparel, including locally made fabrics and imported designer labels
have become hot-selling products across Africa’s rapidly expanding urban areas.
Africa has hundreds
of rising stars who are building successful businesses in the fashion and
beauty industry. I’ll share a few interesting examples with you.
Suzie Wokabi is one
of Africa’s leading entrepreneurs breaking into the beauty and personal care
market, a sector that is dominated by international giants like Unilever,
Procter & Gamble, L’Oréal and Mary Kay. Suzie Beauty, the cosmetic business
she started about 7 years ago in Kenya, has become hugely successful – a multi-million
dollar business.
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| Kunmi Otitoju. photo courtesy of foundersgrid.com |
Kunmi Otitoju is
another inspiring entrepreneur who has built a successful business with her
luxury label, Minku. Her young business makes high-quality leather bags
designed with Aso-oke fabric, a hand-loomed cloth woven by Nigeria’s Yoruba
people. Her unique designs have become a major hit in high-end stores in Nigeria.
The list of
promising African entrepreneurs who are building successful businesses in the
fashion industry is quite impressive.
Real
Estate
The demand for both
residential and commercial real estate continues to grow across Africa.
However, there is still a huge accommodation shortage. In countries like
Nigeria, for example, over 16 million new houses need to be built to solve
Nigeria’s serious housing problem. The estimated cost of providing these homes
stands at a whopping $350 billion!
The opportunities in
Africa’s real estate market include investing in land and real estate
(properties) to take advantage of fast rising property prices. There is also
lucrative potential in developing middle and low-income housing and office
space for sale, lease or rent.
Internet
& Tech
Africa’s Internet
& Tech space will be a joy to watch in 2015 (and beyond). Tech hubs and
incubators are springing up across the continent from Accra (Ghana) to Lagos
(Nigeria), Jo’burg (South Africa) and Nairobi (Kenya). These hubs have become
Africa’s “Silicon Valley” and continue to produce the best tech innovators and
entrepreneurs Africa has ever seen.
Last year, the
acquisition of Saya, a mobile messaging phone app developed by two young entrepreneurs
from Ghana, made the headlines. This simple app for feature phones, which was
created in 2011, started to replace SMS texting and became an instant hit in
West Africa and even in faraway India!
Saya is just one of
several success stories in Africa’s internet and tech industry. African
entrepreneurs are using the internet and technology to solve problems and
challenges on the continent. From taxi services to mobile payment systems and
motorbike delivery services, African tech startups are buzzing with creativity
and promise.
TO BE CONTI NUED
Article by John-Paul
Iwuoha of smallstarter.com
I encourage you to
keep a date with us at The Next Level with Chukwuemeka International
Self-Discovery and Financial Empowerment Conference coming up on 18th and 19th
November 2015 in Abuja. Come and learn the skills of knowing opportunities and
taking calculated risks.
Whether you succeed
or not, is really in your hands. Remember that when you set the sails, God
sends the wind.
In your success
journey, what insights have you acquired or tips you would like to share? I
would like to hear from you. Your feedback is valued.
 |
| chukwuemeka okereafor |
I am available to
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Thank you for
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