Looking to establish and grow in Africa, the following are the most successful industries in Africa that have been well established in most African markets across Sub Sahara and Northern Africa. Over half of the below mentioned most successful industries have very high barriers to entry and the rest have relatively low barriers to entry. Many companies operating in the Fast Moving Consumer Goods market have grown and remained successful in Africa over several decades. Retailers such as Shoprite, Game and Spar, that retail FMCG goods have remained in the Nigerian market for decades even in situations where other industries suffered setbacks. FMCG Manufacturers such as Kelloggs, Coca-Cola and Danone have also remained relevant across countries in Africa. The most successful industries in Africa are built by brands that take time to establish a market presence and invest heavily in becoming household names. Official list below of the top 10 Most Successful Industries in Africa:
- Fast Moving Consumer Goods (FMCG) Manufacturing & Retail – Food, Beverages and Basic Health & Body Care.
- Technology (Software and Hardware) – I.e. Apple, Facebook, Google.
- Real Estate & Construction – Most profitable when politically linked. Otherwise still a successful industry.
- Consulting & Business Services – I.e. Mckinsey, KPMG, Olatorera Consultancy Limited
- Health & Pharmaceuticals – Manufacturing and/or sales of prescription and non-prescription drugs
- Shipping & Logistics – Port operations, export and import.
- Cars Retail – Most successful businesses have licenses from the likes of Toyota and Mercedes Benz.
- Banking – Most ethically run banking institutions have remained profitable over the years, expanding cross-country i.e. Standard Chartered Bank, United Bank for Africa, Guarantee Trust Bank (GTB).
- Telecommunications – I.e. Vodafone and MTN.
- Entertainment – Nollywood, Cinemas, arcades and parks
- Fashion & Beauty Retail – Offline and online retail of fashion and beauty products. I.e. Dressmeoutlet.com, Mango Stores and Mr Price (MRP Clothing).
- Mining – A quiet but highly profitable industry with countries like Senegal and Botswana taking leads in mining activities.
Want to push your dreams in today’s great-people, good-nations, technology-driven, corruption-stricken, high-potential world? You must read Olatorera Oniru’s 2018 e-book titled Push Your Dreams available now on Olatorera.com and on Amazon.com.
The Olatorera Consultancy brand has grown from an ambitious solo-preneur to a team of over 50 people highly assertive on providing the seal and stamp of “Africa’s Best” to great businesses in Africa and beyond. Chief Executive Consultant, Olatorera Oniru is very passionate about seeing businesses succeed and operate optimally. She is also notably passionate about witnessing Africa transformed into one of the world’s greatest continents. Olatorera Consultancy has an annual outline of businesses we work with. We currently do not accept unsolicited applications. To network with the team at Olatorera Consultancy Limited, please add your company to the reviews page here. An Olatorera Consultancy company representative may be in touch with you shortly after reviewing your company’s readiness for business consultation services.