Africa has seen a significant improvement in their economy as of late. Despite being dubbed as one of the most underdeveloped nations, Africa presents a lot of resources and opportunities that entrepreneurs can tap into.

Six of ten fast-growing economies in the world are African countries. With that, prominent businessmen and business experts consider the continent as one of the most attractive investment destination in the world. It’s no wonder why a lot of entrepreneurs are looking forward to establishing their business in the continent.

If you’re planning to expand or start your business, Africa is a great place to do it. Here are some of the most profitable businesses you can consider:

Automobile Business

Africans from rural areas are migrating to urban areas for better job opportunities. This led to a population spike in urbanized cities. Because of this, the demand for transportation increased as well.

It’s estimated that the African automobile industry could sell up to 10 million units in the next few years. But only a few companies are producing vehicles in the country. To meet the demand, there should also be an increase in the number of automobile companies.

This makes the automobile business an ideal in Africa. Moreover, the need for auto services such as auto parts or repair services could also increase.