European countries, particularly the United Kingdom and France, also exhibit strong franchise networks, with thousands of successful franchise brands. In Asia, China and India have leveraged franchising to spur small business growth, with China alone experiencing a 15% annual increase in franchise businesses. The franchise model has proven resilient in diverse economies, providing entrepreneurs with a lower-risk entry into business ownership and bolstering local economies through employment opportunities.

READ ALSO: West Africa’s Economy: The Critical Role of Innovation and Entrepreneurship

Africa’s Untapped Franchising Potential

Africa’s franchising sector remains dynamic yet largely untapped. Foreign direct investment (FDI) in Africa is estimated at approximately $60 billion. According to the World Economic Forum, small and medium enterprises (SMEs) account for 95% of all registered businesses and contribute around 50% to the total GDP of Sub-Saharan African countries. SMEs play a critical role in driving economic growth, yet many struggle with sustainability. Data from the International Finance Corporation (IFC) indicates that about 80% of startups fail within the first five years. Franchising offers a structured business model that can mitigate this high failure rate by providing proven systems, established brand recognition, and ongoing operational support.

The South African franchise industry is the most mature on the continent, contributing around 15% to the country’s GDP and encompassing over 800 franchise brands. Nigeria and Kenya are emerging as strong players in the sector, with international brands such as Shoprite, KFC, Domino’s Pizza, and Cold Stone Creamery making significant inroads. Kenya, in particular, has seen a 12% growth in its franchise sector over the past five years, fuelled by a rising middle class and increasing urbanisation. Ghana, Egypt, and Morocco are also witnessing a gradual increase in franchise investments, signalling the potential for broader adoption across the continent.

Key Drivers of Franchise Growth in Africa

A combination of economic and demographic factors is making Africa an attractive frontier for franchising. The continent’s population, currently at 1.4 billion, is projected to reach 2.5 billion by 2050, with over 60% of its inhabitants under the age of 25. This youthful demographic is driving demand for both international and locally adapted brands. Urbanisation is another significant factor, with an estimated 50% of Africans expected to live in urban areas by 2030. This shift is increasing disposable income levels and altering consumer preferences towards standardised, quality-controlled goods and services—an area where franchises excel.

Furthermore, digitalisation is enhancing the feasibility of franchising in Africa. The continent’s mobile penetration rate stands at over 46%, with a projected increase to 50% by 2025. Mobile money services such as M-Pesa in Kenya, MTN Mobile Money in Ghana, and Flutterwave in Nigeria are facilitating seamless financial transactions, making it easier for franchises to operate and expand across borders.

Challenges Hindering Franchise Expansion

Despite its potential, franchising in Africa faces several challenges. Access to financing remains a significant barrier, as many prospective franchisees struggle to secure the necessary capital. The average cost of starting a franchise in Africa varies widely, from $50,000 for smaller brands to over $1 million for well-known international franchises. High interest rates on business loans, averaging between 15-25% in many African countries, further exacerbate the issue.

Regulatory complexities also pose hurdles. Many African nations lack clear franchise-specific legislation, leading to inconsistent enforcement of contracts and intellectual property protections. South Africa is one of the few countries with a dedicated franchise regulatory framework under the Consumer Protection Act, but other nations continue to grapple with legal uncertainties that deter potential investors.

Additionally, supply chain inefficiencies and infrastructure deficits present operational challenges. Poor road networks, unreliable electricity supply, and inefficient logistics can hinder franchise businesses reliant on timely supply chains. However, increasing investments in infrastructure projects, such as the African Continental Free Trade Area (AfCFTA), aim to improve trade flows and connectivity across the region.

The Future of Franchising in Africa

Despite these challenges, the outlook for franchising in Africa remains optimistic. Several international brands are adopting an ‘Africanised’ approach by integrating local preferences into their offerings. McDonald’s, for instance, has adapted its menu in Egypt to include halal-certified products, while KFC in Nigeria sources over 80% of its ingredients locally to navigate import restrictions.

Furthermore, homegrown African franchises are on the rise. South Africa’s Debonairs Pizza, Nigeria’s Chicken Republic, and Kenya’s Java House have successfully expanded within and beyond their home countries, proving that African franchises can scale effectively. The rise of technology-driven franchise models, such as cloud kitchens and e-commerce-based retail franchises, is also shaping the future of African franchising.

As financial institutions and investors increasingly recognise the profitability of franchising, initiatives such as franchise-focused funding schemes by the African Development Bank (AfDB) and the World Bank are emerging to provide necessary capital. Additionally, governments can play a pivotal role by establishing clearer franchise regulations, improving infrastructure, and fostering an environment conducive to business expansion.

Franchising is not merely a business model; it is a vehicle for economic transformation. With strategic investments, regulatory support, and a shift in entrepreneurial mindset, franchising has the potential to redefine African entrepreneurship, create jobs, and stimulate sustainable economic growth.

The post Franchising Could Revolutionise African Entrepreneurship appeared first on African Leadership Magazine.

Africa has recently witnessed a remarkable surge in women entrepreneurs who are not only transforming their communities but also creating global brands that compete on the international stage. These trailblazing women are reshaping industries, challenging stereotypes, and driving economic growth across the continent. Yet, their journeys are not without challenges, and their achievements reflect both resilience and innovation.

READ ALSO: How African Entrepreneurs are Transforming Global Markets

A Rising Force in Global Markets

African women have emerged as key players in sectors such as technology, fashion, agriculture, healthcare, and e-commerce. According to the Global Entrepreneurship Monitor (GEM) 2022/2023, Africa boasts the highest rate of female entrepreneurship globally, with 26% of adult women engaged in entrepreneurial activities.

Women like Dr Maya Horgan Famodu, founder of Ingressive Capital, who is empowering African startups through venture capital, and Iyinoluwa Aboyeji, co-founder of Flutterwave, exemplify this entrepreneurial prowess. Similarly, Hannah Olapade, a Nigerian agritech innovator and founder of FreshBox, is driving sustainability in agriculture through cold storage solutions. Precious Moloi-Motsepe, founder of African Fashion International (AFI), champions African designers on the global stage. These women are reshaping industries and redefining Africa’s narrative in the global marketplace.

Real Challenges Along the Way

Despite their achievements, African women entrepreneurs face significant challenges, including:

1. Access to Finance: A 2023 report by the International Finance Corporation (IFC) reveals that women entrepreneurs in Sub-Saharan Africa face a financing gap of over $42 billion. Many women-owned businesses rely on personal savings or informal loans due to limited access to venture capital and institutional funding.
2. Socio-Cultural Barriers: Traditional gender roles and cultural expectations often restrict women’s participation in economic activities. In some regions, societal norms discourage women from pursuing business ventures, while others face resistance when breaking into male-dominated industries.
3. Limited Access to Markets: Expanding beyond local markets to compete globally is a significant challenge. Many women entrepreneurs struggle with navigating international regulations, logistics, and competitive landscapes.
4. Educational Gaps and Digital Divide: While literacy rates are improving, gaps in education and access to technology persist. The World Bank 2023 Gender Report noted that only 39% of African women have access to the internet, compared to 51% of men, hindering their ability to leverage digital tools effectively.

Success Stories: Lessons in Resilience

In spite of these barriers, African women entrepreneurs continue to demonstrate resilience and innovation. For instance:

• Dr Ola Orekunrin Brown, founder of Flying Doctors Nigeria, established West Africa’s first air ambulance service, overcoming logistical and funding challenges to save lives across the region.
• Hadia Ghaleb, an Egyptian entrepreneur, has turned her fashion and lifestyle brand into a global phenomenon by utilising social media to reach international markets.
• Adenike Ogunlesi, founder of Ruff ‘n’ Tumble, revolutionised children’s fashion in Nigeria, creating a proudly African brand that exports to global markets.

The Economic and Social Impact

Women-led businesses contribute significantly to Africa’s economic growth. A McKinsey report (2022) estimates that advancing gender equality in Africa could add $316 billion to the continent’s GDP by 2025. Women entrepreneurs also play a critical role in job creation, with businesses like SoleRebels employing hundreds locally while promoting sustainable practices globally.

Beyond economics, these entrepreneurs are catalysts for social change. Many invest in community development, education, and mentorship programmes, paving the way for future generations of women leaders. As Ngozi Okonjo-Iweala, Director-General of the World Trade Organization, aptly stated:
“When women thrive, societies and economies flourish. African women entrepreneurs are not just building businesses; they are building the future of our continent.”
Similarly, Bethlehem Tilahun Alemu emphasises:
“Our businesses are not just about products; they’re about rewriting the African narrative and showing the world what we’re capable of.”

A Call to Action: Empowering the Next Generation

While the achievements of African women entrepreneurs are commendable, more must be done to support their growth and sustainability. Governments, financial institutions, and global organisations must take actionable steps to bridge gaps and create an enabling environment:

1. Increase Access to Funding: Initiatives such as the African Women’s Development Fund (AWDF) and the SheTrades Initiative should be expanded to reach more women entrepreneurs across diverse sectors.
2. Provide Training and Mentorship: Programmes that enhance skills in business management, digital literacy, and leadership are crucial. Partnerships between educational institutions and private sector players can amplify such efforts.
3. Promote Policy Reforms: Governments must implement policies that foster gender equality in business, reduce bureaucratic barriers, and incentivise women-led enterprises.
4. Strengthen Networks: Platforms like the Lionesses of Africa and the Women’s Entrepreneurship Access Centre offer critical networking opportunities that connect women entrepreneurs with global markets and resources.

The entrepreneurial journey of African women is a testament to their determination and ingenuity. By addressing existing challenges and amplifying their voices, we can unlock their full potential to drive Africa’s transformation on the global stage. The time to act is now—whether as policymakers, investors, or consumers, we all have a role to play in championing these remarkable women.

The post Entrepreneurial Prowess of African Women Building Global Brands appeared first on African Leadership Magazine.

It is essential to include young people in decision-making and to provide them with appropriate opportunities for work and innovation.

As a result, involving young people in politics and society is more than just a matter of inclusion; it is critical for economic growth, innovation, peace, and security.

The African leadership magazine conducted extensive research and identified the Richest Under 30 in Africa.

This list includes some of Africa’s best and brightest under 30.

It focuses on innovative entrepreneurs, influential creatives, gifted athletes, and techies who shine a light on Africa’s growth in a pandemic era and consciously shift the narrative in their unique ways.

Elsa Majimbo

She is a Kenyan comedian, social media influencer, and brand ambassador born on June 29, 2001.

She is best known for her hilarious Instagram videos, which went viral during the Covid 19 quarantine period. Majimbo has won 15 chess championships.

She stated on Netflix’s “Strong Black Lead” about her chess journey that she began playing by accident as early as 14 and that her father took her to every chess game after she won her first tournament.

Majimbo is a Fenty, and MAC Cosmetics endorsed brand ambassador. She has also collaborated with the luxury label Valentino. Her net worth is estimated to be one million dollars.

Fatima Babakura

Timabee is an accessories brand that “redefines luxury in Africa and beyond,” it was founded, CEO, and designed by Babakura.

Her keen eye for design, curiosity, and desire to imagine and bring to life a product inspired her to launch Timabee.

Babakura founded the company during her first year of university in Canada. She had created a “simple handbag” and given it as a gift to a close family friend.

She had no idea it was that good.

But, keeping with her “curious” theme, she set out to find a manufacturer to make this bag.

As a result, she conducted a simple Google search, which led her to Alibaba, where she discovered a company willing to make her a sample for $150 in December 2013.”

Babakura, 17, set out to spend the $150 she received from her parents’ pocket money, which she lost because she interacted with a fraudulent vendor and had no idea”.

She was unaffected by the loss of money. Instead, she was determined to find someone else to make her bag, but this time she was much more cautious and did her homework on the company.”

One of Timabee’s most significant achievements came in 2021. Her brand was approved by award-winning American artist and businesswoman Beyoncé.

Dr. Brett Lyndall Singh

Brett Lyndall Singh began his career as a vocational trainee at Greys Hospital in 2010. He moved to China in 2011 and enrolled at Wenzhou Medical University to study Bachelor of Medicine and Bachelor of Surgery.

During the initial COVID-19 outbreak, he was recruited to a particular anti-pandemic task force unit that worked on establishing the clinical protocol for five infected Pediatric Patients; those protocols were shared with various governments to help prepare for the pandemic and earned him an honoree at the China national COVID-19 Commendations Ceremony presided over by President Xi Jinping, being one of two African Doctors acknowledged and the only one from Africa.

He is now the Pediatric representative for the Healthcare Leaders Roundtable of the Forum on China-Africa Cooperation (FOCAC).

Oluwadamilola Apampa Owolabi (Dammy Twitch)

Dammy Twitch, also known as Apampa Owolabi Oluwadamilola, is a Nigerian music video director.

He is well known for directing music videos for Nigerian artists such as Davido, Zlatan Ibile, and Teni.

His net worth is estimated to be $500,000.

Nneji, Anthonia C. A.

Chinasa, whose ancestors were traditional carvers and masquerade carriers, is one of the young ladies making a name for themselves in the arts.

“My grandfather carved totems for traditional worship. My father was also a carver, but I didn’t know him much because he died when I was a baby. But I still have some walking sticks, figurines, and others that he did,” she told one of the international news platforms.

SOME BRIGHT AND RICH AFRICAN UNDER 30
Image source: Freepik

The post SOME BRIGHT AND RICH AFRICAN UNDER 30 appeared first on African Leadership Magazine.

The Accra facility’s 30MW capacity will be critical in leading the charge for hyper-scale customers to deploy digitisation solutions in West Africa.

According to Tesh Durvasula, Chief Executive Officer of Africa Data Centres, the Accra operation is a significant milestone for the company and highlights the massive growth opportunity the company sees for its business in the region and on the continent.

“We are witnessing an unprecedented demand for digital services, apps, broadband, cloud technologies, and more, all of which are seeing data demand soar to unimagined levels,” said Durvasula.

The facility will pave the way for the company’s hyper-scale partners to expand digital services and solutions to more West African countries, making Africa Data Centres the largest provider in the region, with facilities in Nigeria, Togo, and now Ghana.

“This new facility will be a giant leap forward in our ambitious long-term plans to close the digital divide in Africa by bringing digital services to more businesses and people.

“We chose Accra as our next location since there is an existing high demand from hyper-scalers, cloud operators and multi-national enterprises to digitally transform West Africa,” Durvasula stated.

In addition to bringing digital services, the data centre will create numerous job opportunities through the digitisation of the economy and hiring local contractors and workers for the builds, from entry to high-tech level.

Durvasula added; “Many exciting innovations have their home in Africa, and numerous startups are raising billions to debut disruptive models across a wide range of sectors.

“Moreover, with Ghana being the second-largest economy in West Africa, it also is an attractive investment destination for international tech giants that want to expand their footprint in the region.”

Continuous connectivity is critical to assisting Ghanaian businesses and citizens in reaping the benefits of West Africa’s digital disruptions. The lack of necessary infrastructure, on the other hand, has resulted in slower growth than the rest of the world.

Opening a data centre aligns with our expansion plans and is timely, as the Ghanaian government has introduced innovative and forward-thinking digital projects in recent years.

Despite significant growth in recent years, many Ghanaians continue to lack access to digital services.

As the continent’s largest network of interconnected, carrier- and cloud-neutral data centre facilities, we are constantly working to provide the infrastructure needed to bridge the digital divide.

As a Cassava Technologies business, we intend to play a significant role in bringing to Ghana the necessary digital and infrastructure services to support the country’s and the continent’s mass adoption of digital services.

“The Africa Data Centres team aims to build many interconnected, cloud- and carrier-neutral data centres across the length and breadth of the continent in an unrivalled US$500 million investment in Africa’s digital transformation,” Durvasula concluded.

The post Africa Data Centre to set up 30MW Facility in Ghana appeared first on African Leadership Magazine.

  Microsoft is also creating new partnerships with accelerators and incubators across Africa, including Grindstone, Greenhouse, FlapMax and Seedstars, to provide industry-based startups with access to markets, technical skills and funding opportunities.

 The firm said the partnerships would provide African startups with access to skilling programmes, markets, and opportunities to co-sell with Microsoft, and access to technology, with support from Microsoft’s engineering and product teams for co-innovation opportunities.

To enable startups to scale using investment funding rapidly, Microsoft is establishing industry alliances and partnerships with venture capital investors to facilitate access to $500 million in potential funding for African startups.

The fund will come from a network of venture capital investors, who will dedicate a portion of their financial support to startups in the Microsoft network.

Microsoft believes the vibrant African startup market is well placed to become a cornerstone of the continent’s digital economy, supporting local innovation through relevant solutions to societal challenges.

Managing Director, Microsoft Africa Transformation Office, Wael Elkabbany, said: “Investments into Africa’s startup ecosystem are growing at an exciting pace. According to the Organisation for Economic Co-operation and Development (OECD), there are more than 640 active tech hubs across Africa, accelerating innovation and creating employment, particularly among the youth.”

However, Elkabbany pointed out that the African startup market currently represents less than one per cent of total investments worldwide. This needs to change.

He revealed that Microsoft’s endeavour to scale its impact dramatically would be driven by an overarching strategy with three key focus areas.

 Startups Lead, Microsoft Africa Transformation Office, Gerald Maithya, said the founder’s hub includes opportunities for startups to sell to Microsoft’s corporate and enterprise customers. Microsoft will also support startups in geo-expansion activities, where startups can scale up by selling in new countries or regions.

“The Founders Hub allows Microsoft to engage with accelerators, incubators and tech hubs across the continent. Our partnerships with key African accelerators provide crucial support to accelerate growth-stage startups with their business development and market expansion plans.

 “We understand that each startup is unique and exists beyond the limitations of a one-size-fits-all partnership model. This is why Microsoft will tailor each partnership to the needs of individual startups, providing support and access – whether to technology, markets and co-sell opportunities, funding or digital skills – to enable them to grow and contribute to the wider economic growth of Africa,” said Maithya.

 Microsoft is establishing partnerships with venture capital investors, primarily those with global reach and regional bases, interested in one or more regions within Africa.

“Our goal in establishing these partnerships with venture capital investors is to extend the network of potential partnerships between Microsoft, venture capital investors and startups, thereby increasing the funding available to eligible startups,” Maithya added.

The guardian

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As important as agriculture is to humanity, so is digital technology, and a blend of both for Africa should be among the serious of all considerations on the continent. The argument for the importance of digital technology in Africa’s agriculture is revealed clearly in the words of Sir Gordon Conway, the renowned Professor of International Development at Imperial College London and Director of Agriculture for Impact, when he said that ‘Sub-Saharan Africa’s agricultural transformation will be shaped by sustainable intensification, adaptation to climate change, and the rise of digital technology.
There is no question that agriculture is critical to Africa’s sustenance and its biggest development goals as it is fundamental for poverty reduction, economic growth, and environmental sustainability. According to Simeon Ehui, the World Bank’s Regional Director for Sustainable Development for Africa, the continent’s food market continues to grow with an expected estimation that it will triple to US$1 trillion from a current running value of US$300 billion. Generally, farming accounts for 60% of total employment in Sub-Saharan Africa, with the food system jobs accounting for even more. At the moment, however, for Africa, it is no debate that agricultural productivity lags seriously. Statistics show that one in four people in Sub-Saharan Africa are chronically undernourished and the continent’s food system is further strained by rapid population growth and the effects of climate change. With concerns on the latter, food security challenge is expected to grow on the continent as crops and livestock production will be threatened simultaneously, and if no adaptation occurs, a clear instance of an effect will be a decline in the production of maize, which is one of Africa’s staple crops, by up to 40% by 2050.

Adopting digital technology, with the implementation of devices to provide accurate data on climate or smartphones to help with relevant services or sensors to read and analyze soil data, etc., can help to transform agriculture in Africa and improve productivity. It is critical then to look into how this is possible in 3 ways.

1. Expanding Farmers Access to Capital and Resources:
Digital technology can help bridge the gap between availability and nonavailability when it comes to procuring resources and capital for farmers in Africa, especially smallholder farmers. Finding innovative ways of providing services to boost engagement for farmers will, without doubt, improve productivity for them as they apply improved methods to their activities. This alone presents business opportunities for the investor looking to gain a foothold in the African space. Startups like 2KUZE, operating in East Africa between Kenya, Uganda, and Tanzania have a viable business that connects farmers, agents, buyers, and banks. Through its mobile platform, 2KUZE provides ease for smallholder farmers as they can connect directly with buyers and agents to secure the best price for their goods, and receive payments securely via their phones, without having to walk for hours to markets. Farmdrive, a Kenyan enterprise, connects unbanked and underserved smallholder farmers to credit while helping financial institutions to effectively increase their agricultural loan portfolios with less cost attached.
It is no secret also that tractors can now be rented using one click on a mobile phone application courtesy of service providers like Hello Tractor. With an increase in the provision of such essential services and more that can be integrated into agriculture, it is much likely that an improvement in Africa’s productivity rate will be seen.

2. Integrate Agricultural SMEs into the Value Chain of Large Supply:
The application of digital technology can provide large scaling opportunities for small and medium agricultural enterprises given the rise in activities in e-commerce and digital transactions. It is easy today for businesses to go digital, even using mobile devices like smartphones, through applications that may require little or no subscription. Some platforms may require commission from sales, and that is it.
Digital technology has opened up limitless possibilities when it comes to marketing and incorporating modern-day strategies into supplying customers or consumers with relevant products. Keen investors can set up platforms to help remote farmers in Africa access a continent-wide and global audience. Instances of such platforms include Agrolinka and Agribros, both virtual market places helping to sell market products, connecting buyers and sellers.

3. Enable Proper Recording and Management of Activities:
With digital technology, proper records and documentation can be kept of farm and agricultural activities which will help to provide indices or information that will improve management. Devices today, especially smartphones, can help record information with as much precision as the data being fed into them. These records can follow the development of products from creation until disposition or sale.
An instance here is the Mobile service Sokopepe which uses SMS and web tools to offer market information and farm record management services to farmers. With an organized database and clear listing of information such as customer profile, catalog of products, and information on certain variables, there is little to be concerned about any difficulty in easily accessing necessary information. The provision of cloud services these days has made it possible to have a strong backup option for any information in the event of the loss of any important device.
The business opportunities in providing services relating to digital technology in the African agricultural terrain are promising, and the need for such is also evident. It represents an ultimate investment that will benefit the value chain from bottom to top handsomely. Digital technology is not restricted. Governments, private investors, and organizations can key into its application and experience firsthand how transforming it is as a business tool to help improve agricultural productivity in Africa. Added benefits include the presence of employment and the ability to perform cross-border transactions, in some cases without limitations. Digital technology must be embraced by Africa and strategies must be put in place to adopt its use as the future of agriculture.

The post 3 Benefits of Digital Technology to Agricultural Productivity in Africa appeared first on African Leadership Magazine.

The Vice-Chancellor, who received the African Educationist of the Year Award – 2020, stated that “for my team and I, we are committed to building our young students to become employers of labour.” Continuing, the Vice-Chancellor maintained that “we understand that unemployment is a major problem in Nigeria and Africa at large and want to change the narrative with our programmes.” 

“We have a robust system that encourages every student to select a skill that must develop while pursuing their degree programme at the University. In addition to the University’s entrepreneurship centre, which provides a practical frame of reference for the students, the skills shape them for life after a university degree,” he said. 

The event, which held virtually, had over 300 leading Africans from various fields, including business, politics and diplomacy. Some of the key guests included H.E. Nana Akufo-Addo, President of Ghana; H.E. Goodluck Jonathan, former president of Nigeria; H.E. Ernest Bai Koroma, former president of Sierra Leone; Dr Tedros Ghebreyesus, Director-General, World Health Organization; H.E. Graca Machel, widow of late Nelson Mandela and former minister; Senator Manqoba Khumalo, Minister of Commerce, trade and Industry, Eswatini; Hon. Samuel D Tweah, Minister of Finance, Liberia, Dr Vera Songwe, Executive Secretary, United Nations Economic Commission for Africa. 

Professor Edoumiekumo, a professor of economics and distinguished scholar, emerged winner of the African Educationist of the Year 2020 after scoring over 50% of the total votes cast in the category in a keenly contested poll. 

While receiving the award, the vice-chancellor spoke glowingly about the University’s serial successes in delivery best in class academic services to students. He also acknowledged the strides by students of the University both locally and internationally while inviting Africans to explore the opportunity of partnering with the institution. 

The African Leadership Magazine Persons of the Year, which is in its 9th year, is an annual award reserved for distinguished Africans who have blazed the trail in the year under review. A shortlist of nominees are selected from results gathered via a Call for the nomination – traditionally promoted via paid online and offline campaigns across the continent, Europe, and the Americas. The call for nomination is the first step in a multi-phased process.

The post We are committed to Job and wealth creation – Prof. Samuel Edoumiekumo, Vice-Chancellor, Niger Delta University appeared first on African Leadership Magazine.

For instance, the N-Power program ran by the government to help reduce unemployment among the youths in Nigeria disengaged about 500,000 Batch A and B beneficiaries during the pandemic. During the application for Batch C, more than 5 million Nigerian youths applied. This shows the high rate of unemployment in Nigeria. Several organizations and businesses also relieved most of the staff of their duties during the pandemic.

 The pandemic also led to increasing reliance on digital platforms. Companies, schools, churches, and businesses in Nigeria started creating their websites, social media platforms, mobile, and web applications to enable people to work from home, learn from home, attend church services from home, and also shop from home. 

With the way the world is going, digitally, there are lucrative businesses that the Nigerian youth can do to generate wealth, irrespective of the economic breakdown.

Content Writing

So many organizations and businesses are going online and they need quality content to grow their business, increase their website and social media traffic, increase sales from affiliate marketing and grow their email list. This has made the demand for content writers to be on a high increase; content has become a form of currency. There are different types of content writing: copywriting, copy editing, proofreading, ghostwriting, technical writing, and so on.

Content writers are generating millions from writing. For instance, on LinkedIn, a Nigerian lady, Chima Mmeje, posted how she made $10k from copywriting while living and working in Nigeria.

Places you can learn content writing in Nigeria:

• thereadywriters.com
• 02academylagos.com
• theknowledgeacademy.com

UI/UX Design

The User Interface (UI) and User Experience (UX) design of a product give the application and website the feeling of desirability, comfort, attraction, and functionality. This, in turn, makes customers keep coming for more, thereby increasing the sales and growth of the business. 

With the rapid growth of the business ecosystem in Nigeria, the importance and demand for UI/UX designers in Nigeria cannot be overemphasized. Many companies are looking for UI/UX designers to design their websites, mobile and web applications, and so on.

UI/UX designers are generating great money from their designs here in Nigeria. Apart from the fact that companies are looking for them to employ them, they also do side gigs which pay them well too. 

Places you can learn UI/UX design in Nigeria:

• ckdigitalacademy.com
• laimoon.com
• stutern.com

Coding

Having a website is a very valuable thing. Every business desires to have a website, blog, or application where they can sell their products to customers. This has led to high demand for coders because all these applications work on code. 

Recently, I spoke with a friend who is a full-stack developer, he told me about rejecting a client’s work because the pay is low. I asked him what he was expecting from the client and he said 1.2million, I then asked him what the client wanted to pay him he said 600,000 Naira – this is just for a website. 

Schools in Nigeria that offer training in coding:

• Anchorsoft Academy 
• Andela 
• Audax Code School 
• Code Spark Nigeria

Digital Marketing

With the high rate of competition in businesses today, many brands and businesses in Nigeria are in need of digital marketers to keep them, not just at equality with their competitors, but to enable them to compete head to head with big brands and large corporations. 

Many companies are recruiting digital marketers and these marketers can work from anywhere, whether there is lock-down or not, and they are well paid.

Schools that offer training on digital marketing:

• CKDigital Academy 
• Nerdy Eye Digital 
• HaelSoft Digital

Graphic Design

Graphic design is extremely essential both for online and offline marketing. The graphic designing business is highly profitable in Nigeria. Businesses, churches, schools, and so on demand the services of graphic designers almost on a daily basis. Examples are the design and production of fliers, handbills, business cards, photos, videos, book covers, e-books, and so on.

During the lockdown, there was massive production of e-books, online fliers by so many businesses and churches. Many graphic designers were not affected by the pandemic at all. Despite the economic breakdown, they were still making money.

Places you can learn graphic design in Nigeria:

• shawacademy.com
• aitrainings.com
• landmarkcomputers.com

Cryptocurrency

The cryptocurrency sector in Nigeria is booming. The trading attracts young Nigerians mostly. Data on trends in Google shows that the majority of requests for bitcoin in the world over the past week were carried out in Nigeria, South Africa, and Austria. Bitcoin is the first cryptocurrency that uses one-range technology. 

Bitcoin trade had its highest spike of 30% this year during the national lockdown in the country and the highest volume traded during the peak of the pandemic. Between January and September, Paxful reported a 137% increase in new registrations in Nigeria.

Data scraped from Coin Dance shows that from the beginning of May 2015 to the middle of November this year, bitcoin trade in Nigeria has increased yearly with at least 19% in volume since 2017, and the highest volume (20,504.50) was traded in 2020. Nigerian youths are making money through cryptocurrency despite the pandemic and economic breakdowns. 

Peace Chinenye

Chinenye Peace Obidike is the founder of Virtuous Women Worldwide, a social media group, that focuses on marriages, relationships, and women affairs. She is a freelance writer, public speaker, counsellor and coach on women, marriage and business.

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