8) Food Processing

It’s widely believed that Africa does not produce enough food to meet its own needs. The continent actually produces far less food per hectare than the world average.

However, while food production remains a big challenge for the continent, post-harvest losses and waste are the biggest threats to food security in Africa.

Due to inadequate processing options, a significant proportion of harvests from farms in Africa never make it to the final consumer.

Right now, Africa’s biggest food problem isn’t production; it’s processing, and then, marketing.

If Africa could process more of the food it produces, food waste will reduce, food supplies would be more stable and less seasonal, and food prices would be less prone to wild swings.

Take the case of tomato in Nigeria. Despite being a leading producer of tomato in Africa, Nigeria has spent millions of dollars on processed tomato paste imports from China.

The same situation applies to several other imported processed food products whose raw materials are abundantly produced in Africa: fruit juice concentrates (processed from raw fruits), industrial-grade starch (from cassava), edible oils (from soybean and cotton seed) and several others.

Young African entrepreneurs like Affiong Williams, founder of Reelfruit, are taking on the food processing challenge in Africa. Reelfruit processes a range of seasonal fruits including mango, pineapple and coconut into dry fruit snacks that can be consumed throughout the year.

As more entrepreneurs and investors pursue agribusiness opportunities in 2018, I’m really looking forward to more grand ideas and innovations that could transform the state of food security on the continent.

9) Real Estate

This is hardly surprising given the current and future size of Africa’s population. According to the United Nations, more than half of global population growth between now and 2050 is expected to occur in Africa. Of the 2.4 billion people who are expected to join the world over the next 30 years, 1.3 billion of them will be Africans.

Where will all these people live, work, shop and play?

Currently, countries across the continent suffer a significant real estate deficit. In Nigeria, for example, the World Bank estimates the affordable housing deficit at over 17 million homes. In Lagos, one of Africa’s largest cities with a population of over 15 million people, there are less than 7 major shopping centres.

It’s the severity of the real estate deficit across Africa that makes it such an amazing multi-billion dollar business opportunity.

Across the major segments of the market – residential, office spaces, retail, industrial and hospitality – investors and developers are positioning themselves to benefit from underserved needs.

The Landmark Group is one example among several others that have been pursuing real estate opportunities in Africa, and maintains a multi-million dollar portfolio of properties on the continent.

The Group has developed and managed over 130,000 square meters of prime real estate across the continent, and is building a Landmark Village, which will be an iconic “Live, Work, Play” mixed-use development with breathtaking sea views in the exclusive area of Victoria Island in Lagos.

As more investors and developers take more stakes in Africa’s real estate market, I have no doubts that new firsts will be recorded in 2017.

10) African Fashion

Africa is in the heat of a fashion revolution.

The explosive combination of creative genius and entrepreneurial talent is increasing the visibility of African fashion on the world stage, as a new breed of designers are leveraging the continent’s rich cultures, history, and fabrics to make bold fashion statements.

Young African designers such as Maki Oh and Aisha Obuobi have featured fashion pieces worn by international celebrities, including Beyoncé and Michelle Obama.

The African Development Bank estimates Africa’s fashion industry could be worth $15.5billion over the next five years. While this is huge, it’s only a small share of the global fashion industry’s value of $1.3 trillion.

Despite its current challenges, Africa’s fashion industry has the potential to create millions of jobs and significantly boost economic growth on the continent. This is already happening in countries like Mauritius, Ethiopia and Lesotho where apparel exports are a major foreign exchange earner.

African entrepreneurs like 26-year old Kelechi Anyadiegwu are already reaping benefits from the fashion value chain.

She started her online African clothing store, Zuvaa, with just $500 two years ago. Her idea was to share African-inspired fashion designs with consumers around the world. Zuvaa is estimated to make nearly $2 million in sales in 2016.

As more African fashion designers, entrepreneurs and stylists unleash their creativity and imagination in 2018, the world is in for a big surprise.