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Investment - October 1, 2020

5 Cheap Yet Highly Profitable Agribusiness You Can Start in Africa

Agriculture is one of the most important sectors of the African economy and can to be its driving force out of poverty. It accounts for 65% of the continent’s employment and 75% of its domestic trade. Starting an agribusiness can pave your path to financial freedom.

However, for most individuals who want to start an agribusiness, the problem is that they don’t know where to start and they give up without trying. Many are also scared of the uncertainties that come with starting an agribusiness in Africa

Here are some very low-cost agribusiness ideas that involve very minimal risks.

1. Leafy Vegetables Farming. Startup Capital – $131

Vegetables are greatly loved and consumed in Africa. Leafy greens are in demand throughout the year, such as cabbages, lettuce, waterleaf, and pumpkin leaves. Combined with the abundance of vegetables in vitamins and minerals, vegetable farming just can’t go wrong.

Vegetable farming is a method of farming that needs little maintenance and, even on a small scale, is productive. For an entire hectare of land, the leafy greens business is one that requires very low startup capital. Seedlings, stem cuttings, manure, and even work are protected by this amount.

2. Beans Farming. Startup capital – $104.

The cultivation of beans is quite basic. In short, you will need a piece of land that is loosened, that is, not waterlogged, and well-drained. In June, beans are typically planted and harvested 60 to 80 days after planting. No fertilizer is required unless the soil’s fertility is very low. You will need just a little over $104 in start-up capital for a hectare of land to launch your beans farming company.

READ ALSO: 5 Businesses You Can Start with Nearly No Capital in Africa

3. Maize Farming. Startup capital – $104

Maize is a great plant for farming as well. Maize by-products such as maize oil, pap, custard, corn-starch, and even alcohol. are widely consumed. Maize is also a very hardy plant, requiring little or no care. As long as you plant in sandy-loamy soil which is pest-free and well-drained, you’re in business.

In various climatic conditions, maize also happens to grow as long as there is a steady supply of sunlight. This implies that maize can be grown almost anywhere. If you consider its very low start-up capital and the bountiful harvest you can expect after just 3-4 months, you can see that for any new farmer, maize is one of the best agricultural business ideas.

4. Cassava Farming. Startup capital – $209

Every day, a large number of African households eat cassava items, from garri to fufu. For some reason, it’s being called the golden crop of Africa. In various types of soil, cassava crops may grow well as their roots use nutrients that other plants may not have access to.

With fresh cassava stem cuttings and well-drained soil, you can look forward to a bountiful harvest between 7 and 18 months after planting. This range depends on the variety of cassava you planted. With an average production cost of $209, a corresponding profit of $314 is a reasonable expectation.

5. Chicken Farming. Startup capital – $131

You can start a chicken farm from close to nothing and see it quickly grow. It is cheap to start chicken farming, easy to maintain and you can be sure that there will always be a market for your commodity.

Also, you can buy a week-old broiler chick for an average of $0.66 each, . By spending around $131 to buy chicks and high-quality feed, after just a few months, you can expect a 100% return on your investment.

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