5 Untapped Small Business Ideas In Africa in 2023

In this article, we will take a look at the 5 untapped small business ideas in Africa in 2023. If you want to read our detailed analysis, you can directly go to 15 Untapped Small Business Ideas In Africa in 2023.

5. Real Estate

Percentage of MSMEs in the Industry: 1.4%

According to our methodology, the real estate sector offers a range of untapped small business ideas. Small business owners can set up a property management business, a real estate advertising business, and offer services in commercial property management.

4. Health & Nutrition

Percentage of MSMEs in the Industry: 1.4%

The health sector in Africa offers a myriad of opportunities to small business owners in the nutrition and pharmaceutical industries. Small business owners can offer diet and nutrition services, supply medical equipment, provide a medical billing service, offer fitness and yoga services, and establish a medical records management services business.

3. Energy

Percentage of MSMEs in the Industry: 1.4%

The electricity crisis in certain African regions offers a magnificent opportunity to offer renewable or green energy solutions. According to our methodology, only 1.4% of the small and medium-sized businesses lie in the energy sector. Small business owners can opt to become solar panel suppliers, offer services in solar panel installation, sell inverters and UPS, and offer repair and maintenance services.

2. Tourism

Percentage of MSMEs in the Industry: 1.1%

The African region is home to the world’s most attractive tourist destinations. According to our methodology, the tourism sector has a lot of potential for small business owners. Small business owners can start a travel planning business, a car rental business, an event planning business, an event-specific travel company, and a tourism magazine.

1. Financial Services

Percentage of MSMEs in the Industry: 1.1%

The formerly cash-dependent economy is transitioning towards mobile payments. According to our methodology, only 1.1% of small to medium-sized businesses belong to the financial services sector. Small business owners could transition to offer smooth mobile payment options to retailers, customers, and merchants. Additionally, other business ideas include setting up a microfinance business, a bookkeeping business, a POS business, or a lending business.

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