Rising Startups In Africa
Recently, Africa has caught the eye of huge investors from all over the world. The key to this attraction is the rising stars of Africa, and here we are talking about the African youth who are using the most valuable resources in Africa to become entrepreneurs. No, it is not Diamonds nor Gold. Africa’s most valuable resource is Problems. Yup, that’s right the most valuable resources African entrepreneurs got is problems that need fixing; it is a resource that you would rarely see in the first world countries. Confused? Let me elaborate more.
What Makes an entrepreneur?
To understand this, we need to get back a little bit to know what an entrepreneur is? According to Investopedia, “Entrepreneurs are the people who have the skills and initiative necessary to anticipate current and future needs and bring good new ideas to the market.”, which brings us back to the point of problems considered as resources. Entrepreneurship is all about finding a solution to a problem and at the same time, make small money out of it. This, by the way, does not make it feel like a bad intent the reason behind making money out of it is purely to keep it the solution running. It is more of a philosophical debate here. In Europe and North America, we see saturated markets with nearly all the daily problems solved, leaving entrepreneurs in a tough position where they need to come up with something extraordinary. Like the next Facebook :D.
The Internet is always the first door to knock
The entrance of the Internet and communication technologies in Africa created a real revolution. And opened a door for entrepreneurs in Africa to create digital solutions for day-to-day problems. Which why we can see digital startups in nearly all the sectors.
Despite the fact that the agribusiness in Africa is expected to reach $1 Trillion by 2030 “According to the united nation” Agriculture is considered the main industry in Africa, the problem here is that African governments supply of agricultural goods is mainly provided by smallholder farmers in rural areas, which considered as a problem as most of these people is poor people with nearly no access to funds or investment in any sort. One of the multiple digital solutions was FarmCrowdy and ThriveAgric these two startups are Nigerian digital portals for farmers and investors. The business model here is that; rather than purchase farmlands and get involved the daily routine of the industry, startups like FarmCrowdy and ThriveAgric enable interested middle-class Nigerians to fund existing farms for between $200 and $750 for a harvest cycle (which can last between five and six months depending on the crop) and earn up a share of profits.
In the last century, the African continent has suffered from multiple civil wars that drove countries into total destruction along with its educational system. And so, in order to catch up with the rest of the world and build an educational system as fast as possible, a lot of African countries started going towards E-learning and educational portals online.
Africa a Rising Star
In Africa, we can see a lot of problems not only on the health and civil war side, but you can find problems in the day-to-day life routine. Which is why entrepreneurs and investor consider Africa the next big thing. Investors from all around the world are considering African startups.