My photo-blogsite is not just a place for photo blogs, weddings, engagements, etc. It is also my platform from which my voice about Africa can be heard. As an African migrant living in America – a very wealthy country, I desire to see some of that wealth transferred into Africa through creating business opportunities (for both Africans and Americans). Yet, solutions to Africa’s problems of poverty, hunger (famine), disease (HIV/AIDS, Malaria and Tuberculosis, etc) and conflict (civil wars, coup de tats etc) corruption and a host of other problems lie in economic empowering of the masses through jobs creation through business opportunities. Even though we have seen again and again that the old way of doing charity doesn’t work, that is still the common practice.
Make no mistake! Africa is the last frontier (read the definition of market frontier here, only that part!) in terms of investing in Africa, and the time for investing in Africa is now! According to The Next-Web, within the next 4 years, mobile growth and penetration is set to increase by a staggering 60%, bringing the total number of cell phone and mobile computing system owners to about 1 billion people! Now that is phenomenal. It is therefore not rocket science that people who invest in technological applications, data services, mobile apps, etc will reap big. It also means that there is still room for newer or foreign telecommunications companies such as the UK’s O2 to enter the African market and earn a buck. But most importantly, it means that African entrepreneurs, investors and developers are presented with an opportunity of a lifetime.
There are many growth areas in Africa. Agriculture, housing construction and infrastructure development, mining and manufacturing; all these are areas still in their infancy or totally untapped but promise a lot potential. For someone trying to reap big, Africa is no longer that place that you shun as volatile, unstable, etc. Recent history shows us, as Reuters News put it two years ago while quoting the BRIC Report, that it as risky to invest in Africa as it is to invest on Wall Street. So the wise investor will spread their capital across the spectrum but the wiser investor must include Africa in their investment plans. If I were the chief executive of a technology or telecommunications company such as the UK’s O2, I would seriously push to invest in Africa. This Wall Street Journal Report gives as a snapshot on how some investors including big name organizations such as Wall-mart have found their way into Africa even though the same report is quick to underscore how small businesses and enterprises are finding it difficult to raise money.
If you are entrepreneur looking to invest in Africa, regardless of your weight, you could talk to investment advisory firms such as the Africa Maven Group which is made of young African entrepreneurs looking to establishing connections and advisory for business and people looking to invest in Africa. As most of you know, I am working hard to push our non profit social enterprise for Africa called VillageServe that will work to provide opportunities for village communities in Africa through training, providing start up costs and creating vast markets (investing in small farmers of Africa). Please contact me if you have more questions about this program and how you can be involved.