from local and international investors. This amount represents a 53% jump from the $366 million raised one year earlier, in 2016. The size of venture capital investments made globally exceeds 40
$100 billion. Currently, Africa gets less than 1 percent of this global deal flow. Waste Management: Waste has been a huge problem in Africa’s urban areas for decades. Many communities reject common waste management practices and most of the waste generated in Africa is burned and household garbage is dumped along rivers or roads. As a result, more than 80% of solid waste 41
produced on the continent ends up in landfills or gets dumped in water bodies. This presents an opportunity for capacity building on waste management by providing equipment and protective clothing, training and expanding community activities into recycling and composting. Affordable Housing: While Africa has the world’s highest rate of rural-to-urban migration, Africa’s housing market has few local developers with the technical and financial strength to construct large-scale projects. By 2030, about 50% of the continent’s population will be living in cities. Africa’s housing crisis opens opportunities for several industries; ranging from cement production, furniture making, 42
construction and mortgages. Providing quality affordable housing is a growing opportunity for investment. As in the U.S., the need for affordable housing is directly tied to few economic options, high unemployment and education.
Automobile Industry: With a rapidly growing population, an overall growing economy and relatively few vehicles per residents, Africa may have the next emerging auto market. Estimates suggest that vehicle sales on the continent could reach 10 million units per annum within the next 15 years, as inequality decreases and incomes rise for more families. Currently, there are just about 44 vehicles per 43
1,000 people in Africa. The global average is 180. Limited investment in the auto industry in Africa has restricted its focus to the assembly of imported vehicle parts rather than the full design and manufacturing; nevertheless, Toyota, Volkswagen and Mercedes are already entering the African market by setting up assembly plants on the continent. With the automobile sector being a sizeable employer of African Americans, Africa’s relatively low demand for American vehicles will 44
have to change if automobile trade with Africa is to benefit African Americans. 37
https://disrupt-africa.com/2017/07/kenyas-twiga-foods-raises-10-3m-series-a-funding-round/ Africa Development Forum; Electricity Access in Sub-Saharan Africa: Uptake, Reliability, and Complementary Factors for Economic Impact; Moussa P. Blimpo and Malcom Cosgrove-Davies: 2019 International Bank for reconstruction and Development/ The World Bank. 40 https://issuu.com/e-paymentreview/docs/e-payment_review__march_2018 38
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