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Business Opportunities in Africa

Investing in Africa has become a saving grace for many businesses around the world. When the global financial crisis arise, Africa bloomed into a perfect business venue regardless of the bad image they had. Since 1990’s, more African countries improved on their economy, there is a big expansion on their investment and business features. More investors from different parts of the world are coming to the region to start a business. Experts say, this is a good response to battle economic decline. Investing in Africa didn’t just open development for private sectors, but it also made way for the continents transition from a chaotic place to a business haven.

Business opportunities in Africa are overflowing. The continent got rich resources that can attract investors. This something that most country, like US, didn’t notice before. Most of the time they only come to the region to give aid, but now, to come for trade is becoming a trend.

Mining in Africa is one of the driving force why the continent gain economical development.

Africa is the home of nearly half of the entire world’s diamond or 50% of the global production. By this time, Africa has produced over 75%, in value, of the diamonds purchased all over the world, with more or less 1.9 billion carats. Central and Southern Africa are places in Africa where diamond is abundant. Angola, Botswana and South Africa are the top distributor of diamonds.

South Africa produce 50% of all the gold in the world. Despite the declining production, it is inarguable that South Africa is still one of the world’s best gold producer. They’ve got two of the globe’s deepest gold mines, the East Red Mine in Boksburg and Tau Tona in Carletonville. The country also have the largest gold ore reserves measuring up to 40,000t, which represents 40% of global reserves.

Both diamonds and golds are the largest mineral foreign income earner in Africa. The continent also produce an array of mineral resources like platinum, coal, granite, nickel, copper, zinc, limestone, phosphates, clay and dolomites.

Another area where growth chances is high is agriculture. Africa has a wide range of agricultural products like coffee, veggies and fruits. South African wines are making a comeback. Algeria is another producer of first-class wines. Along with France, Canada, United Stats, South Korea and Western Europe are countries that benefits well on Algeria’s wine industry.

Telecommunications is also one of the fastest growth area. From 1999 to 2004, the annual rate of Africa’s cellphone usage grew to 58%. The region showed faster growth compared to the some countries in Asia.

Infrastructure and transportation has also improved. International tourism is given priority. With wonders like the Ancient Egypt, Mediterranean Resorts in North Africa, Victoria Falls, Cape of Good Hope and other natural and wildlife landscapes, the continent has potentials to compete against other continents. Airports and hotels facilities are also developed.

Africa is on the process of transformation than is beneficial to both Africans and business enthusiast.

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