An obvious deficit exists in this area. Numerous NGOs,individuals and businesses continue to contribute their quota to improvements in this sector,as it has become quite obvious that governments alone cannot do this.
With abundant talents,
the industry in most African countries remain unstructured but continues to grow from year to year and it is expected to grow even faster when supporting structures are instituted.
Africa presents vast lands yet to be cultivated. The industry employs the largest portion of the continent’s working population. There are obvious challenges in the industry but nonetheless remains an opportunity for investors.
Investment in this industry is yet to show the expected results. Africa is not expected to overtake other continents soon but to gradually import and consume technology from other countries as other sectors of the economy grow.
The industry is growing fast. Both local and foreign investors have flooded the continent and are transforming the landscape of some major cities in the form of both residential and commercial properties. The mortgage industry is small, leaving an opportunity for interested players.
Transport & Communication
The telecommunication industry is seen as the fastest growing industry in Africa. The use of smart phones and computers and the convenience that mobile applications bring to its users is low, due to the level of illiteracy in most African countries. The continent is yet to enjoy the full benefits.
Manufacturing & Retail
This sector is quite large and characterized by very conservative practices. The industry awaits heavy investment especially in the retail sector. With a fast growing population, that remains dependent on imports, the manufacturing and retail sector leaves investors with a lot of opportunities.
A large pool of talent exist in African countries in the area of sports, especially soccer. The business aspect of sports is gradually competing the passion of the game. The industry in Africa has grown beyond a billions dollars as we see soccer academies springing up and aggressive talent hunt all across.
Tourism & Hospitality
A continent blessed with rich history and magnificent tourist sites is yet to reap the revenues that can be made in the industry. This sector is also growing rapidly, but only in a few countries. There have been stagnation in some parts of the continent. Governments are working hard to attract foreign investment in the industry so as to grow this industry to its full potential. Zambia, Botswana, Angola, Ghana and Kenya are countries to look out for.
Banking & Fin. Serv.
The banking and financial services industry is a fast growing industry. South Africa has the leading industry in terms of non-traditional banking products. Ghana, Nigeria and Kenya have seen considerable growth in the industry with gradual movements towards modern banking products. Recapitalization is expected over the next five years in some countries so that banks can better handle the transactions that come with growth in economies.
A capital intensive industry that presents opportunities for both investors and custodians of minerals-filled lands. Technology is improving the operations of mining companies established in Africa. Gold and diamonds continue to be the most talked about metals on the continent but there are other metals that will excite investors.