Africa is a relatively backward country. With the Belt and Road Initiative, what are the business opportunities in Africa?

Africa is a relatively backward country. With the Belt and Road Initiative, what are the business opportunities in Africa? In recent years, with the profound changes in the international structure and the national "One Belt, One Road" initiative, more and more China enterprises have gradually turned their attention to emerging markets such as Africa. However, some prejudices against Africa, such as backward infrastructure, language and culture, and complicated laws and regulations, have also made many China enterprises daunting. Bian Xiao cited the business opportunities in Africa in 2022 by combining relevant information at home and abroad. Friends who have gone abroad, come and see if you have caught it.

Business opportunities 1: retail and e-commerce Africa's population exceeds1200 million. With the development of economy, the rise of the middle class and urbanization, a huge retail market reaching billions of dollars has been formed. The retail market in Africa is undergoing profound changes, and the retail industry is gradually changing from large, medium and small offline promotion merchants to large shopping centers and e-commerce platforms.

According to the specific situation of the African market, cross-border e-commerce enterprises in China have closely integrated import and export trade with local distributors in accordance with the innovative OSO method (online+social media+offline promotion), so that more and more African customers can obtain high-quality goods from China more conveniently, and more products from China enterprises and well-known brands can successfully go to Africa.

Although the e-commerce industry in Africa is booming, the e-commerce penetration rate in Africa is still less than 5%. There is great room for development in this field. The combination of online and offline OSO mode is the development trend of e-commerce in Africa in the future.

Business Opportunity 2: Modern Agriculture The scale of population management in Africa is huge. However, due to various reasons, the local agricultural production capacity in Africa has been unable to meet the growing demand of food crops, and cereals, milk, various foods and semi-processed agricultural products still depend on imports.

With the introduction of new crop varieties, scientific management plans for agriculture and animal husbandry, and corresponding financial policies, Africa is in the golden age of modern agricultural development. Many agricultural products, such as Ugandan freshly ground coffee and Rwandan peppers, are gradually exported to China and European countries. Modern agriculture in Africa is advancing rapidly in the fast lane of development.

Information technology and electronic digitalization The information technology industry in Africa is a bright spot in Africa's social and economic development in recent years. From Accra (Ghana) to Lagos (Nigeria), from Johannesburg (South Africa) to Nairobi (Kenya), research centers, industrial bases and technology incubators have become very popular in Africa. This core has become the African version of Silicon Valley, which continues to promote the development of Africa's information technology industry.

China science and technology companies represented by Chuansheng, ZTE and Huawei occupy a dominant position in the communication market. At present, the penetration rate of smart phones in Africa is 40%, and mobile Internet technology accounts for 44%. The number of Internet users in Africa is increasing by 8- 10% every year, which has laid a solid foundation for the development of it industry and the whole high-tech industry.

That's all. I hope it will help friends who want to go abroad to Africa. If you have any thoughts or opinions, please leave a message in the comments section for discussion.