Finding The Right Business Opportunities In Africa

Posted by Ravi Somani on June 3rd, 2014

If you an entrepreneur who is eagerly waiting for the right business ideas or business opportunities to come along, then here’s a good news: Africa is becoming an increasingly attractive hub for foreign investors in light of various economic, political and social reforms that are sweeping through the continent, resulting in a much improved business environment conducive for foreign direct investment. Mr. Ravi Somani, who was a part of the event meant to encourage business investment in Africa, held at the Hilton Hotel, on August 23, 2011, shares his expert views on wonderful business opportunities in Africa.

Huge potential for investment in the agriculture sector

Africa is Ripe for green revolution. According to Mr. Ravi Somani, African countries have huge potential for investment in the agriculture sector. While there are several obstacles to boost agricultural output in Africa, the African governments are making substantial and successful efforts in surmounting these shortcomings. As these barriers are overcome and agricultural output is increased, there’ll be a business opportunity for the manufacture and marketing of products such as fertilizers, pesticides and seeds as well as a demand for food processing services such as grain refining. African countries like Ethiopia are agricultural paradise with a vast amount of land, favorable climate and low labour costs.

The interest of the African nations in boosting their agriculture sector can be estimated from the fact that during the event, the honorable President of Uganda, Yoweri Museveni showed keen interest in the technology of processing paper from banana stems and had a detailed discussion with Mr. Ravi Somani, the managing director of the Agro products processing company, Utsav Exim Limited.

Different areas where there’s scope for investment

• Production for local consumption: The critical challenge to unlocking the potential in the region is to improve basic food stuff production efficiencies. Too much of the regions basic commodity food stuffs such as maize and oilseeds are produced by inefficient subsistence farmers who are entirely at the mercy of the weather and only have access to inefficient farm inputs. Since, the agricultural sector is not that developed, targeting production for local consumption is a better alternative, suggests Mr. Ravi Somani, the ex-promoter of Utsav Safety Systems Ltd.

• Export Potential: The African region struggles to produce soybeans due to the short day light hours in East Africa. Work is being done to develop lines of soybeans which can cope with short day light hours. Industrialized farming and associated accompanying investments could transform Africa’s food security situation into a major exporter of commodities.

Mr. Ravi Somani, who finds African countries like Tanzania attractive for international business due to presence of ports feels, there’re huge business opportunities in Africa, waiting to be explored. With lucrative opportunities, clearly set guidelines and incentives for investment, Africa is a business destination that should definitely be given a try. Utsav Exim Ltd, is a company run by Mr. Somani that identifies the right business opportunities in developing countries and provides consultancy services to various projects in a wide variety of fields.

To know more about Utsav Exim Ltd or Mr. Ravi Somani’s HSRP venture visit- http://www.utsavexim.com/