Thanks to a globalized economy, the African continent is on the rise. It is an el dorado for investors looking for business opportunities. Because of that, it became the number one favorite destination for an expansion of a business activity and it is not very surprising knowing that half of the countries with the highest growth rate in the world are from Africa. This last few years, most of the new millionaires and investors set their eyes on the black continent looking for a profitable sector to invest in. Investing in Africa has therefore become the new trend for business moguls but what exactly are those sectors?solar energy, agribusiness,not to forget internet access, are all very lucrative sectors in Africa.
In Africa, there are plenty of potential and opportunities for investors. Some sectors are more popular than others because of their profitability like the solar energy business. It represents one of the most abundant resource in Africa since it is available 300 days a year. In fact, according to recent studies from Irena, the African continent is the most favorable place in the world for solar energy development. Based on what he said, investments in solar parks, nowadays reach approximately 1.3 million of dollars for every MW installed compared to a world average MW installed of 1.8 million.
Apart from solar energy, the agribusiness sector in Africa is very popular. It is a relatively unexplored business that represents a real gold mine. Based on this observation, Aliko Dangote,the richest man in Africa presumably invested 1 million dollar in rice production. Obviously, he is aware of the amount of money Africa spend in importing rice.
It is estimated that the internet access market in Africa is worth billions.According to Mckinsey Global Institute firm, Internet could be instrumental in bringing 318 billions of US dollars in the continent gross domestic product by 2025. Those numbers go to show how promising this sector is in terms of investing in it.
An urgent need in human resources
Those new trending sectors call for new skills and for that reason human resources would need to be trained so they can deal with it accordingly. Thus, many young people are leaning toward pursuing a career in those demanding field.