Six Best Agro Business to invest in Africa

Six Best Agro Business to invest in Africa
Six Best Agro Business to invest in Africa

Clever business individuals in Africa are already programming investing in the agro-related business and here is a list of them you can go into:

Cashew Production and Export

Cashew nuts

Cashew crop has been economically planted in Nigeria since 1954 with 800 hectares in Enugu State.

Nigeria has a total landmass of 91 million and 82 million of them are suitable for growing crops, Nigeria produces approximately 220, 000 metric tons and exported 120,000 in 2017. It is the 4th-largest producer in Africa.  

Weather conditions; They can grow well in sandy and lateritic soils, which is why they are grown in three of the 4 regions of Nigeria.

Cocoa production and exports

Cocoa seeds

Reports say cocoa production grew from 260,000 MT in 2011 to 380,000 MT by 2013, and cocoa exports earned over $950. The revolution of the cocoa industry has seen huge investments by large companies with $25 million invested to procure cocoa from over 22,000 certified cocoa farmers.

This presents a huge opportunity for small scale farmers and business people whole look to start agro-business. Business people can source local farmers in rural areas, display these products on a platform like ‘cocoa bank’ where products like these can be sourced and then make massive sales.

Export of cattle horns

Cow horns

Horns are gotten from slaughtered cattle with over 180million people in Nigeria, the demand is huge, this implies a high number of cattle slaughtered daily to meet demands and in turn business opportunity to acquire enough cattle horns for export purposes. Cattle horns are used in the preparation of medicines, button, spoon, and fork, pieces of jewelry, belt buckle, etc

Natural rubber export

Dry rubber

Natural rubber performs the main function in our national economy; these are the provision of raw materials to agro-based industries, it provides foreign exchange earnings and places Nigeria in the world map as a big exporter of rubber, and it provides employment to Nigerian farmers.

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According to the international rubber study group, the global demand for natural rubber may reach 13.2 million tons by 2015 and 15.2 million tons by 2020, while the production of natural rubber can reach only 14.6million tons/year in 2020. The gap in supply is an opportunity for investors/stakeholders to go into the production and or exports of the commodity.

Cassava

Cassava crops

Cassava is used for generating flour in Nigeria and can be used as a partial substitute for imported wheat flour in bread and confectioneries, starch, sweeteners, chips, and ethanol. Reports show that thirty bakeries including international supermarkets like Shoprite and park n shop regularly sell cassava-wheat flour bread.

Yam exportation

Tubers of Yam

Yam is an important food crop, especially in west Africa.

Apart from serving as food, it has industrial uses. It is used in the production of all-purpose adhesives. These adhesives are used in the production of cartons, packaging companies and also shoe producers.

Some industries, particularly in Europe, use yam flavor in preparation of high-quality biscuits, and bread.

The average consumption rate of yam and its bye-products in Nigeria is estimated at 0.6-1.5 kg daily. The demand for the commodity is expected to be fueled by the over 19million Nigerians living abroad.

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