Money Moves June 04, 2018 at 06:25 am

Want to be an African millionaire? Then invest in these business opportunities

Mildred Europa Taylor | Head of Content

Mildred Europa Taylor June 04, 2018 at 06:25 am

June 04, 2018 at 06:25 am | Money Moves

Mobius Motors

Automobiles

African entrepreneurs are refusing to be left out in the automotive industry. After years of purchasing cars outside the continent, the trend has changed as some local engineers have taken advantage of technological advancements to venture into the car manufacturing business.

Countries like Uganda, Nigeria and Ghana have already taken the lead in that regard.

The interesting thing is that some of these homegrown cars are designed for the rough terrain in Africa.

The Innoson Vehicle Manufacturing Company, which is the first Nigerian technology company to produce cars, has given scores of Nigerians the opportunity to purchase their own cars.

Kenyan car manufacturer, Mobius Motors, is planning to introduce an affordable, but robust and classy SUV for the African mass market. The Mobius II is set to be on the road by next year, 2019.

As more people continue to demand for transportation services, this will open a large number of business opportunities in Africa including spare parts dealers, auto-service shops, auto financing, among others.

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