ENTREPRENEURIAL SERIES
11 Business Opportunities in Africa That Will Make More
Millionaires in 2016
(Part 2)
3) Smartphones
The phone in the picture is one of
the versions of the Obi World phone; a low-priced smartphone that’s
specifically targeted at the African market.
Guess what? It sells for just about
$129, and it’s selling like hot cakes.
Africa is currently the second
fastest growing market for mobile phones, after Asia. However, the first wave
of Africa’s mobile phone revolution is almost over.
These days, African consumers are
looking to upgrade from ‘first generation’ feature phones to smartphones. It’s
no surprise that the continent’s growing population of technology and
fashion-savvy youth now presents a multi-billion dollar market for smartphones.
However, most ‘new-age’ smartphone
devices like iPhone, Blackberry and Samsung are quite expensive for the average
African. This has created a huge opportunity for low-priced smartphones that
are now hitting the African market.
Better still, many of these
smartphones are built on the Android operating system, have similar features to
the ‘high end’ smartphones and most are just as stylishly designed.
In the last eighteen months, over a
dozen low-priced smartphone brands have debuted on the African market. Given
the market potential for these phones, they’ll very likely make more
millionaires for the entrepreneurs behind them.
4) Internet Access
Africa’s internet market is worth
billions of dollars.
It’s no surprise that tech giants
like Google and Facebook are scrambling to improve internet access to millions
of Africans. Google’s Project Loon and Facebook’s Free Basics are just two of
several bold initiatives to connect Africa.
However, some smart African
entrepreneurs are already making impressive moves to conquer the internet
access market.
One example is ‘BRCK’ a startup
company in Kenya that has created a rugged internet modem device that’s
designed for harsh environments with limited internet connection and
electricity. The modem can hop between Ethernet, Wi-Fi, 3G and 4G, and comes
with eight hours of battery life.
This African-inspired invention has
already sold thousands of units in 54 countries, even in faraway places as
India. Their biggest customers have been schools.
Recently, BRCK raised $3 million in
funding from investors to extend the reach of this amazing device. The
entrepreneurs behind it will surely be smiling to the bank, after all the hard
work is done.
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