AFRICAN BUSINESS PROFILE
Africa is moving fast on its development plans as a developing continent. Small and medium scale businesses are quite the reason for some of the growth being encountered in major sectors in Africa.
We will take a look at five business profiles responsible for this growth.
AGRICULTURE: In Africa, agriculture is seen as being as old as man himself, from the ancient times of crude planting and harvesting, to a more mechanized way been used now to increase productivity. While the average farmer is a subsistence farmer, the major empowerment programmes aimed at the rural farmers from the government to international organizations is enormous. As a continent, the raw materials Africa export to the western world cannot be overemphasized. From cocoa, cassava, limestone, rubber to name but a few, the African continent is equipped and well positioned for the business of agriculture. Thanks to its favorable climatic condition.
TRAVEL AGENTS: As a continent with strong tendencies for rural-urban migration, it is no surprise majority of Africans want to experience the feeling of living in more advanced countries. They want to seek better healthcare, welfare package and better standard of living. The dream of going abroad have been painted by family members who have been to the western world and have a lot of folklore to tell. Travel agents make these dreams become a reality by providing the necessary logistics for a trip abroad. Clients are most times available to pay above their noses to patronize them and make their dream a reality. Those who cannot afford it are left with more shrewd ways of going abroad.
USED CAR DEALERS: The cost of living in Africa is very low when you compare it to other places of the world, but not if you want to live in luxury or comfort like in some European countries. Buying a new car is very steep for the average African together with the import duties. Budding entrepreneurs have keyed in to provide used, affordable, clean cars from the western world to luxury crazy Africans who can afford it. This business is like a goldmine for this young entrepreneurs and companies. Regardless of what exchange rate any African country is trading on, the bulk is passed to the buyers of these products.
AUTOMOBILE PARTS: Buying a car whether new or old is not as difficult as finding a replacement for already used parts in a car. Far back in the days, Africans with cars would rather ship their cars to their manufacturers abroad in other to get a part fixed. Today it is a different story. Automobile parts flood the African market on a daily basis from various regions of the world, fairly -used to new ones. This business is a stimulator of the African economy.
HOTELS/TOURISM: Tourism is a significant part of the African culture, with marvelous landmarks and monuments to choose from, it is no surprise a vast majority of people visit Africa for tourism purposes. Quite a number of these tourists who have been to Africa, lament about the poor hotel accommodation being rendered in Africa. There is a huge gap between what a 5-star hotel is in the western world, and what it is in Africa. This has led quality hotel management a huge business in Africa.