“This is the place to be . . . with all its challenges. Let’s go and work hard. I know there are hurdles and [conditions in Africa] are not every day the way we would like it to be, but look through that [and] see the opportunities because they are ample.” – Johan van Deventer, MD, Freshmark (South Africa).

To many foreigners, Africa is still the poor, war-torn, HIV-ravished country that requires a little of their tax in form of aid to survive. In reality however, Africa is not a country but the world’s second largest continent consisting of over 50 countries. Although Africa has had more than its fair share of wars, most parts are inhabited by peace-loving and friendly people.

While there are indeed cases of HIV and other diseases, it is myopic to define Africa by that. Blessed with natural resources (including gold, crude oil and diamonds), over a billion people from different tribes with rich cultural and historical backgrounds, Africa really is the world’s most potential-filled and untapped continent. In the United States, African migrants are among the most educated. In fact, the percentage of African migrants with a college degree is more than double that of native white Americans with such!

A few entrepreneurs (both people and companies) have realized this truth and are tapping the rich human and natural resources on the continent. I intend to shed the spotlight on a few of them:

• Africa’s richest billionaire, Aliko Dangote became very rich by creating products solving the day-to-day problems of feeding and housing in Africa. Of recent, it has also been reported that he is planning to invest in mining, petrochemical and power generation. According to Forbes, Dangote is worth USD 11.2 billion. Interestingly, he made most of his fortune in Africa.

• With annual revenue of about USD 15.6 billion in 2011, MTN Group is indeed one of very profitable companies in the world. The telecommunications group, present mainly in Africa, also operates in the Middle East. MTN’s head office is located in Johannesburg, South Africa.

• A subsidiary of German firm, Bilfinger Berger, Julius Berger Nigeria PLC is Nigeria’s largest construction firm by Market value. Based on its might, high quality equipment and already established brand, Julius Berger is a favourite choice for high profile government construction contracts within Nigeria. In January 2012, the company declared an annual profit of USD 31 million.

• The past two years have seen unprecedented improvement in the value of Africa’s e-space with Google, the global king of the web, targeting the African market with some products like Google Trader (targeted specifically at Kenya, Uganda, Nigeria and Ghana), Getting Nigerian Businesses Online (GNBO) and Getting Kenyan Businesses Online (GNKO).

 

• Huawei Technologies is just one of the many Chinese companies making a fortune in Africa. The multinational is rooting establishments and market for its telecommunications products in Algeria, Angola, Egypt, South Africa, Nigeria, Kenya and many other African countries with contract sales in Africa reaching USD2.08 billion in 2006. In fact, based on Africa’s contribution to its growth, Huawei has contributed funding and equipment to a number of educational projects in countries such as Angola, Kenya and Nigeria.

Africa may not be the most conventional place for a business. Investing in Africa may involve a higher level of risk. But there is no doubt about it- Africa is one of the best places to make money. If you are looking to expand your business, come to Africa!

Image via flickr