By Majella Mark
- The average startup capital for Black entrepreneurs in the U.S. is $35K
- The GDP in Africa is expected to increase by 3.4% in 2021
The roaring 1920s came after the Spanish Flu, manifesting the Harlem Renaissance. This era gave us the traffic signal by Garrett A. Morgan, the creative writings of Langston Hughes and sparked global bravery among Black people. Now in the 2020s we’re seeing that same spark, as we emerge from the darkness of Covid-19. More people of the diaspora are returning to Africa, starting empires since the continent’s GDP is expected to increase by 3.4% in 2021. So, what should you invest in and explore across Africa?
Why This Matters: High and low tech is expanding rapidly in Africa, creating lucrative opportunities for investment in solar energy companies like M-Kopa, which recently raised an additional $3 million this year. There are outsourcing companies like Remoteli, that expanded from a staff of four to thirty within a year. Also, digital finance services such as Paga and virtual education for college degrees.
It’s important to remember that by 2050 half of Sub-Saharan Africa’s populations will be under the age of 25. That population will be a driving force for labor and consumerism. With this in mind there are many opportunities to grasp onto before it’s too late.
If the people of Africa are getting higher education online, hired as outsourced workers and frequently making digital transactions, they will eventually become a middle class in major cities who will need affordable housing, low cost private schools and driving services. This will just create more business opportunities that will require branding consultations and creative agencies support.
Situational Awareness: There are many avenues we can take to make this decade a significant milestone, such as Birthright AFRICA helping people of the African Diaspora transition back to the motherland. Numerous funds expanding and investing in African businesses such as Invest Africa, are setting the tone for the rest of the world.
CBx Vibe: “The Black Renaissance” Sa-Roc Ft. Black Thought
