9 Business Ideas That Will Create New African Millionaires

9 Business Ideas That Will Create New African Millionaires

There are wide lists of business ideas and opportunities around the world, but few have the potentials to make an entrepreneur a millionaire in one year. The million in context here is the Nigerian Naira, but some businesses have the ability to drive a first-time entrepreneur in a specific industry up to the million dollar mark if the person successfully closes at least one valuable transaction.

In this article, I highlight 9 key and realistic business ideas and opportunities that can create new African millionaires in the year 2018:


1). Export Of Solid Minerals:

The solid mineral industry is one of Africa’s most valuable wealth resource, but the least managed. This neglect causes many entrepreneurs to think the industry has little to nothing to offer, and so, prefer to spend their time pursuing other endeavors.

The opportunities in the export of solid minerals range from the export of Mica blocks to Zinc ore, Manganese ore, and much more with profit margins soaring to as high as 300%.

With the global demand for Africa, especially Nigeria’s mineral resources demand growing far higher then ever, venturing into the export of solid minerals is a lucrative investment to make.

See Also: How To Start The Lucrative Export Of Muscovite Mica Minerals From Nigeria To International Buyers


2). Commodity Brokerage:

Because of how lucrative the global trade business is, the commodity brokerage business can be extremely profitable for global trade facilitators.

Commodity brokerage thrives because international buyers are constantly seeking local businesses that can mediate on their behalf to close a secure transaction for them.

With commissions per trade ranging anywhere from $10,000 monthly to over $1,000,000 monthly depending on if you’re brokering a solid mineral trade or oil transaction, this can be the fastest way for any aspiring entrepreneur to make their first million.


3). Real Estate Brokerage:

Real estate brokerage is a lucrative business opportunity for people who have the resilience and wit to get buyers for different types of landed properties.

For every successful sale, the real estate company could pay the agents between 3% to 5% of the sale.

A property sold for 100 million Naira would make a real estate broker/agent between 3 to 5 million Naira in commissions.

Sen Also: The Comprehensive Guide To Real Estate Investment


4). Generator Rentals:

Generator rentals is another high value investment that very few people pay attention to.

There are countless events that happen everyday and the organisers are constantly on the lookout for backup generators in the event of a power failure.

You could startup a generator rental company or broker the transactions pending when you can afford to purchase yours.


5). Facility Management:

Facility management is a business opportunity that can be started with far lesser resources than most other businesses and could be run on a monthly recurring contract basis.

A sample facility management service is professional cleaning, and a bulk of organisations are always looking to outsource their cleaning services to facility managers.

See Also: How To Start A Cleaning Business In Nigeria: The Complete Guide


6). Event Management

Another business idea that benefits greatly from the event business is event management. With so much occasions and events going on, the hosts now almost always employ the use of event managers to plan the entire process and ensure everything is right and goes fine.

Every event manager charges differently, but at a 200,000 Naira charge per event, 5 events will earn you your first million.


7). Blogging:

Blogging has proven itself over their years to be a great source of online revenue. Multimillionaire bloggers like LindaIkeji and the likes have shown its prospects severally, and in the process have indirectly driven thousands of people to venture into blogging.

See Also: How To Start A Blog — The Complete Beginner Guide For 2018


8). Vlogging:

Just like blogging, Vlogs are literally video blogs that are setup by opening a YouTube channel. Several YouTube bloggers around the world make millions of dollars yearly. Even in Nigeria, the Mark Angel Comedy Blog sits at over 1.6 million subscribers with great potentials to make over one million dollars yearly.

With the right content and a way to reach your audience, you can grow a successful Vlog.


9). Green House Farming:

Greenhouse farming is a controlled system of farming that helps farmers maximise their yields. It reduces crop loss by over 80% and enables farmers maximise their return on investment far more than the average farmer can. It also guarantees an earlier harvest, and in the process, makes it very lucrative for anyone interested in agriculture to venture into.


What are your thoughts on these 9 business ideas that will create new African millionaires in 2018? Let me know by leaving a comment below.