Underutilized Opportunities In African Entrepreneurial Landscape
We as Africans have a problem when it comes to making investment decisions. We always want to go to those that are promising quick riches and that is why we fall for scams very often. How many have ventured into a business that they do not have a passion for just because a friend or a former colleague is making a killing out of it? There are many people who have made such decisions based on greed for money and being carried away by emotions. The resources in Africa are in abundance but utilization is still very low. The following are some of the underutilized areas in the African entrepreneurial landscape
Agribusiness
Most of the African farmers are small-scale producers who still use traditional means of cultivation. Those who do it on large scale still do not utilize it to the fullest potential. The culture of some Africans is still prohibitive and that is why we find that those who rear cattle focus more on quantity rather than quality. The only way we can change this continent is through agribusiness and protect it from food crisis issues. It does not make sense importing foods from desert countries like Israel while millions of acres lay idle in this beautiful continent.
Emerging technologies
We must embrace technology for us to take this continent to the next level. The African market can be somehow conservative to technology but some countries like Kenya are leading innovation hubs. Some of the emerging technologies that are taking shape in this continent are the blockchain and tangle networks. Even though most people associate them with cryptocurrencies, they are also applicable in other areas such as public record keeping and the finance sector. The Kenyan government has even formed a task force to explore the benefits that these emerging technologies can bring to the country.
ICT infrastructure
Bank penetration is still low in Africa as there are many people who reside deep into rural areas. Such people have to travel for hours or even days to access bank services. The only way to reach such people is through mobile money transfer services. The Internet is still expensive in most African countries even though some like Kenya, Nigeria and South Africa are in the right direction. Most of the service providers in this sector are multinational companies who have tapped the market and are reaping the benefits. We need more companies to join this space and bring healthy competition and improve service delivery.
Waste management
Most African governments are finding it hard to manage waste which is a serious problem that needs a dignified approach. Some countries like Rwanda and Kenya have already banned the use of plastic bags in a move to reduce solid waste. However, there is still more that needs to be done if we want a clean and habitable continent. Some African companies are on the right track as they recycle solid waste and put it in meaningful uses. Social enterprises that aim at managing waste are attracting grants from well-wishers and people who want to make the world a better place to inhabit.
