10+ Business ideas in Africa that can fetch money fast (2021)

Africa is a continent endowed with many great opportunities and natural resources. A lot of these opportunities are yet to be fully tapped. But, we suffer poor economic growth. 85% of Nigeria, Ghana, Senegal, Kenya and other African countries live on less than $5.50 per day according to World Bank income distribution in African.  The cause cannot be far-fetch.  A lot of People depend solely on government to provide job employment, security, fight corruption, and initiate economic policies for their betterment.  In Nigeria, for example, some People have to pay thousands to millions of naira as bribe to secure government’s job instead of investing the money on a business for high ROI in the long run.

Business ideas in Africa to make money fast

image credits: businesswire

Of course, I know that starting a business and making money in Africa generally is a difficult task yet people are doing businesses and acquiring properties, buying luxurious cars, traveling to different continent of the world and living their lives the way they want.

Where is this group of people getting their money from? How are they making money in this part of the world? And how can you become one of the business moguls? People like Aliko Dangote, the richest man in Africa; Nassef Sawiris of Egypt; Folorunsho Alakija; Abdul Samad Rabiu; Mike Adenuga, the richest man in Nigeria and many others.

To become one of those business moguls may require you owning and operating capital intensive business which is difficult for anyone with little to no capital. Yes, that’s true! But, there are some good businesses that can fetch money in Africa fast you can consider starting on low scale and grow into something that can make you a millionaire within a space of time.

Business ideas that can fetch money fast are what every seasoned entrepreneur should be looking out to start in 2021.  In this article, we covered 10 great business ideas in Africa that can fetch money fast.  You can venture into some of these business ideas and get good results in next few months to come.

Our services
Be Your Own Boss Today! Live Your Life in Fullness!
With Our Well Package Business Training, Attractive Business Plan and Feasibility Study Reports You Now Have the Chance of Getting the Funds You Need from Bank and Investors to start your own business.
<<Click Here to Learn More >>

Business ideas in Africa that can fetch money fast

Without wasting time, these are 10 business ideas in Africa that can fetch money fast:

Food Business

Food is an essential need of man. The food industry is ever-expanding because of the increase in Africa population and rural-urban migration.

Some of the great food business ideas you can start in Africa include:

  • Restaurant business – Restaurant business is one of the businesses in Africa that can fetch money fast. With little capital, you can start from the smallest type of restaurant which is Mama put or Buka to fast food joint and then grow to big restaurant like Chicken Republic, Emily restaurant, Mr. Biggs, etc.
  • Retail and wholesale distribution of food itemsretail and wholesale distribution of food items is another of area of food business that can make you a millionaire in few months. Combining retailing and wholesale distribution is usually the best option if you want to grow fast. But if you starting with low capital, you can begin with retailing of food items.
  • Processing and packaging drinkables – the rate of consumption of fruit and energy drinks in Africa has increased. Many new emerging food and beverage industries are getting into fruit and energy drink processing and packaging. If you have substantial capital or can raise fund, this is right time to start this business before the market gets saturated.

What do you need to start a food business? You need a good location where customers can easily sight you, good skill at cooking for those who want to start a restaurant business and good packaging skill.

How fast can you make money from the food business? That depends on your location and the extent you’re able to satisfy your customers. But with the growing rate of young men and women who eat out as result of their busy Schedule/activity, restaurant business has become the number one for fast money making in Africa. Once, your food taste delicious, you’re sure of getting great number customers per day.

You’re venturing into retail and whole distribution, you can distribute food products from a high production location to a high consuming location, and this is because most agricultural products are cultivated far away from the cities but highly needed in the cities.

Livestock Business

Africans are known for livestock farming. Over 60% of livestock reared in Africa are exported to foreign countries either in raw or processed form. So, the business can fetch money fast in Africa. Livestock industry is fast growing in Africa and in the recent times, new modern techniques have emerged in the livestock rearing, processing and packaging as food.

Some category of business ideas that fall under livestock business you can start in Africa include:

  • Poultry farmingone of the easy-to-start livestock businesses that can fetch money fast is poultry farming. The climatic weather condition of most part of Africa support Poultry Farming. And there is huge market for poultry products in Africa. Layers rear for egg production and Boilers reared for the meat are most the most domestic bird in Africa. In Nigeria, poultry sector contribute about 25% of agricultural domestic products.
  • Fish farming – fish farming just like poultry farming is business you can make money fast from when you venture into. Though, it is capital intensive and requires proper management. The increasing growth of confectionaries, restaurants and eateries has geometrically increased the market demand for fish and fish products. The most rear fish in Africa are the Catfish and Tilapia with high Omega-3 content. Read more on the cost of starting fish farming in Nigeria. Getting started fishing farming will require a good fish farming business plan.
  • Snail farminganother interesting great livestock business is snail farming. Snails are proteinous meat served as local and international delicacies, although a good number of ethnic groups in Africa forbid the meats. The shell of snail is used for pharmaceutical purposes and also crushed for animal feed because of its rich source of calcium. Snail farming a “millionaire business” because only the middle and first class citizens can afford the price of snail meat.
  • Pig farming – Piggery business is another livestock business in Africa with high net profit margin. As one Pig can deliver a dozen piglets or more at ones is something to reckon with in pig farming. Though, it is not all African country that eats pork but the numbers that eat it surpasses the number that doesn’t it. Consumption of pork is on high demand in Nigeria, Ghana and West Africa.

For the livestock business, you need to give it a little time for the livestock to grow and mature before selling. Livestock business is business that can fetch money fast in Africa; there is no doubt about that as we all need protein our daily diet.

Our services
Be Your Own Boss Today! Live Your Life in Fullness!
With Our Well Package Business Training, Attractive Business Plan and Feasibility Study Reports You Now Have the Chance of Getting the Funds You Need from Bank and Investors to start your own business.
<<Click Here to Learn More >>

Clothing Business

Clothing industry is one of the fast growing industries that can fetch money fast in Africa. Just like food business, use of clothing is on the rise because everybody wants to look good, with new style and designs emerging every day.

Some categories of clothing business you start in Africa include:

  • Tailoring – tailoring business is fast growing small business in Africa. The vast ethnic diversity in different part of Africa has created a big market opportunity for tailoring business. If you’re innovative and creative, having good skill in tailoring, you’ll definitely succeed in tailoring business. One good thing about tailoring business is that you can start on small scale and grow it to big fashion and design industry.
  • Buy and Selling of clothesanother area of clothing business line you can venture into in Africa is the buying and selling of clothes. People buy clothes on daily basis; all you need to succeed in this business is to make yourself known through the quality of clothes you sell and the strategically locating your business. You can import clothes from countries like China and sell them in your country. If you don’t have high capital to start importing or selling of first grade clothes (Boutique), buying and selling of second-hand clothes (like Okirika) will be the best option for you. And this sells fast as a result of high level of poverty in Africa.
  • Textile industry – Fabrics extractions and textile production industry is an industry that you’ll hardly find in Africa; yet, we grow plants and trees like cottons and rear animals that textile materials like wools can be gotten from. If you’re into clothing business line, you can grow to establish your own fabrics and textile industry in your country. Though, starting this business is capital intensive but the net profit margin is high.

Africa is a fertile ground for those who want to venture into clothing business line. The business is fast selling and if you know what you’re doing, within few months you’ll be making six figures in any of clothing business. Once, you’re following the current trend in fashion in Africa.

 Transportation Business

Transport industry in Africa will continue to boom as an average African is a low income earner and will never dream of buying his/her own personal car.  Starting a transport business involves buying a car, getting it registered and acquiring all the necessary licenses for driving. You will always make money in transport business because people will always move from one place to another.

So, transportation business is still very wide open to those who would want to invest in the transport business. It is fast money making business but not without its challenges.

Starting transport business: best car for taxi business in Nigeria

Some categories of transportation business you can venture into include:

  • Intra-city transportation business – with the little tricycle, cab or mini bus, you can start intra-city transport business (low level transportation business) and then grow to a big inter-city or inter-country transport company.
  • Inter-city transportation business – you’ll need at least one or two buses or taxi to start inter-city transport business. If you don’t have the capital, you can start with intra-city transportation.
  • Inter-country transportation business – this is a cross country transportation business. This kind of transportation business is usually run by big transport company.

If you have the car but don’t want to start driving it yourself, you can hire the service of a trusted and qualified driver who will drive it for you at an agreed daily/weekly returns.

You can make money fast in transportation business if properly managed. Poor management is what usually transportation business.

Drug dispensing and retailing business

Drug dispensing and retailing is another great business idea in Africa that can fetch money fast. On daily basis, people take one drug product or the other to support their health condition. There are so many diseases and sickness Africans are battling with.  If you knowledgeable in drug substances, dispensing and retailing; you’ll definitely succeed in this business in Africa.

Some categories of drug dispensing and retailing business you start in Africa to make money fast include:

  • Pharmacy storePharmacy store is one of the few flourishing businesses in Africa. Two major type of pharmacy is the community pharmacy (stock and retailing pharmacy) that can be operated by a trained pharmacist and hospital pharmacy (dispensing pharmacy) managed the hospital. Unlike the Patent Medicine store, pharmacy business is supposedly run by trained Pharmacist or in partnership with a Pharmacist.
  • Patent Medicine (Chemist) storePatent Medicine store is one of the fast moving businesses in Africa that can make money for you in few months. The store deals on stock and sales of over the counter (O.T.C) drugs. Patent Medicine Store different from a pharmacy store in that a Patent medicine store managed by persons who are a trained as chemist. Starting this business in an Africa country like Nigeria may require that you registered with National Association of Patent and Proprietary Medicines (NAPPMED)
  • Cosmetic storeA cosmetics store sells body and health related products. Starting this business is not so capital intensive, especially if you choose to start on a low scale. Having the right brands of cosmetics that people would want to buy and good stock keeping are the secrets of succeeding in a retail cosmetics business. The cosmetics and beauty industry can fetch money fast because everyone wants to look good. There is always a high demand for cosmetics and skin care products demand. Just like food, everyone uses cosmetic product every day.

How profitable is drug dispensing and retailing business? The annual net profit on pharmacy and patent medicine business is over 60%. As long as people continue take drugs and drug products every day, this business will remain profitable.

Internet business

Whether you’re in Nigeria, Ghana, Senegal, South Africa or anywhere in the world; you can run internet business comfortably. We’re in digital world, if your business is not online or you’ve started an online business just know that you losing a lot of money.

We have a whole lots of business ideas under internet business that you can make money fast from.

  • Freelance services – offering Freelance services is a great business idea that can fetch money fast in Africa. It is a kind of business that you can easily start with little or no capital. You can even work from home as a freelancer. As a freelancer, your job is to solve your client’s problems using your skills, resources, and time. Whatever skill you’ve learnt, acquired or developed over the years can be applied in freelancing. So, all you need is your skill, time and the resources to carry out the specific freelance service. Some services you can offer as a freelancer include freelance writing, web designing, graphic designing,
  • Ecommerce business – one of the great internet businesses that can fetch money fast is the ecommerce business. Ecommerce business involves buying and selling of goods and services over the internet or electronically. The few major things you need to start ecommerce business include; hosting account, domain name, and registered business name for easy payment integration, your products and services. Resources that would help you set up ecommerce business with little investment are readily available. You don’t need to be an internet or programming guru before you can set up ecommerce business successfully.
  • Cryptocurrency business – With the fast growing popularity and acceptance of digital currencies, dealing on cryptocurrency can make you a millionaire in few months.  Cryptocurrency business is beyond cryptocurrency trading and investment. It include things like creating ICOs sites, exchange website, blockchain education website and cryptocurrency predictions site

Tutoring business

Tutoring business is fast growing business in Africa that can fetch money fast. With increasing educational development in Africa, parents are now seeing the need to train their children to education and acquired skills.

Some tutoring business ideas in Africa you can start to make money fast include:

  • Home coaching/tutoring – home tutoring or coaching is one of the tutoring business any individual with skill or knowledgeable in any subjected area can start. You can start from as low as home tutoring to private lesion center and then grow to a big private school.
  • Daycare services – Daycare centre is a thriving business as young parents of these days rely on the services of daycare to take of the wards.
  • Private lesson Centre
  • Private school
  • Skills acquisition and empowerment center

Cost & Challenges of Starting Public Tutorial Centre

Distribution business

Distribution business is one the best business ideas you can start in Africa and make money fast. Although, it can be capital intensive if you venturing into distribution of products that have already penetrated the market. But companies whose products are yet to penetrate the market can accept you as their distributor with little or no capital.

Some products you can go into its distribution in Africa include:

  • Phone and phone accessories
  • Alcoholic drinks like beer
  • Wine
  • Toiletries and Cosmetics
  • Food and beverages

IN CONCLUSION

We have shown some of business ideas in Africa that can fetch money fast for you. Meanwhile, how fast you’ll make money from these businesses will be dependent on two major factors:

  • Internal factors which include things like your knowledge of the business, team, skills, hard work, diligent and patients.
  • External factor which include things like government policies, security, social and environmental conditions, time and location.

All things being equal, you’ll definitely make money fast doing any of these businesses in Africa.

Leave a Reply

Your email address will not be published. Required fields are marked *