From manufacturing packaging material in Malawi to supplying Kenyan hotels with baked goods. Here we present a selection of potential business opportunities that have unveiled themselves as early as the beginning of 2021.

Growing market for locally produced fish

The new Aqua-Spark Insights report shows that the continent will consume up to 29 million tons of fish per year by 2050, up from 10 million tons today. On the menu is farmed tilapia, a freshwater fish, which Aqua-Spark says offers a sustainable, affordable and accessible means of feeding the region's growing population. "Due to overexploitation, wild catches cannot be increased and therefore will not be able to meet the additional demand. We believe that aquaculture production will need to be accelerated and we have identified tilapia as the fish to do this: it is scalable and is healthy, sustainable and affordable."

Building Regional Champions in French-speaking West Africa

There are considerable prospects in francophone West Africa for companies to offer their products and services throughout the region, believes Jean-Marc Savi de Tové, co-founder and managing partner of Adiwale Partners. The West African Economic and Monetary Union nations - which all use the CFA franc currency - comprise Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal and Togo. These countries are relatively small with weak manufacturing capacity and import many goods from outside the continent. Companies that have succeeded in their domestic markets are therefore well positioned to serve the wider region.

Consumer Goods Packaging in Malawi

Packaging suppliers in Malawi are unable to meet the specific demand and requirements of businesses in the country. According to Victoria Mwafulirwa, founder of agro-processor Homes Industries, this means that businesses are turning to imports to find what they need to get their products packaged and ready for market. Mwafulirwa believes that a packaging venture would not require much start-up capital to be able to move forward. "You don't have to start big. In the beginning, if one can just make the necessary packaging readily available - even through imports - and then grow it into a full-fledged plant as the business expands," he said. "The demand for packaging is big, and right now we're dealing with an imperfect system, so any way to get local businesses to have what they need is already a start."

 Affordable housing development in Kenya

The Kenyan Government's Affordable Housing Program is seen as an opportunity for property developers to diversify their portfolios, according to a recent report by real estate services group Broll. There has been a limited supply of affordable housing units in the recent past, with government projects holding the largest market share of 83% between 2019 and 2021. This is compared to 17% delivered by private projects. This trend is expected to change over the next two years as private developers become more dedicated to delivering affordable housing with the introduction of innovative construction technology.

Potential for economy and mid-range hotels

 Hotel investment firm Kasada Capital Management sees potential for affordable hotels that serve Africa's middle-income population. "We believe this is the time to invest, focusing first on the emerging African middle class, representing 80% of guests to provide them with a new, modern and attractive offering at an affordable price, while bringing internationally recognized brands and standards to Africa. Africa's growing middle class will drive demand for the sector. In the next 10 years, thanks to the African Continental Free Trade Area, we can expect domestic travel within Africa to increase," maintains the company.

Nigeria's technology industry still has considerable room for growth

Early-stage investor Olumide Soyombo has invested in more than 30 Nigerian start-ups over the past decade, including Paystack (payments), Piggyvest (savings and investments), Spleet (furnished living spaces) and TeamApt (financial services for the underserved). However, he believes it's still early days for the general market. "There is a huge group of people who will be transacting online in the next few years. When Generation Z - those who were born with a tablet in their hands - reach working age, they're not going to walk into a branch to open a bank account. They're going to shop online, and when they become merchants, they're going to sell online."

Unmet demand for camel milk in Somaliland

Camel milk is a critical product for both consumers and businesses in Somaliland. Evidence from the research organization RTI International shows that dairy companies see great economic potential in the camel milk market and are actively seeking support from producers to expand their business. Demand for the product is increasing - with camel milk kiosks selling the product almost daily - thanks to its nutritional properties and the camel's unique ability to produce milk during drought.

The industrialization of cassava in East Africa

Agriculture-focused private equity firm Pearl Capital Partners sees growth potential in Uganda's cassava value chain. The firm recently invested $2.5 million in cassava producer Pura Organic Agro Tech Ltd. The funding will be used to set up a vertically integrated cassava processing plant to produce high quality cassava flour, tapioca starch (an industrial input used in the packaging industry) and sago (an edible starch delicacy popular in India). "Uganda, and East Africa as a whole, imports almost all of its starch requirement. There is a great market opportunity to replace these imports and bring new knowledge and technology to produce cassava starch and sago," notes Wanjohi Ndagu, partner at Pearl Capital Partners.

Africa's rapidly urbanizing cities are a money-making opportunity for food producers

The center of gravity of Africa's agrifood systems is shifting inward and toward cities, suggests the State of Africa's Agriculture in 2020 Report. Farmers who rely on exports abroad are likely to benefit from markets closer to home. The fastest growing urban food markets are for processed, prepared, and perishable foods - especially dairy, poultry, meat, fish, and horticulture.

Supply of frozen baked goods to hotels in Kenya

The lack of a consistent supply of quality products has meant that many hotels, restaurants and catering companies rely on expensive imported goods. It is estimated that last year Kenya imported 2.5 billion in food products, many of which can be produced locally. Hotels in Kenya are increasingly relegating activities such as baking to the outside because large kitchens take up space that could more profitably serve bed and conference facilities. Steven Carlyon, president of SimpliFine Foods, says Kenyan hotels import large volumes of frozen baked goods-such as bread and croissants-from Europe and the Middle East because there are very few local companies that produce consistent quality frozen baked goods on a large scale.