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Activator HQ releases Africa’s Top 100 Business Opportunities to Watch in 2024

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Activator HQ

The new edition includes waste-to-energy plants, diaspora investment funds, solar-powered cold storage, digital skills training, spice mixes, and cassava derivatives, among other ideas

Egalement disponible en Français, Também disponível em Português, تتوفر أيضا في العربية

LAGOS, Nigeria, December 11, 2023/APO Group/ — 

Despite rising food and fuel costs, weakening currencies, climate change effects, security threats, political instability, rolling power cuts, infrastructure limitations, and several economic and social challenges, Africa will be one of the fastest-growing regions in 2024.

That’s one of the key findings in the 2024 edition of the Top 100 Business Opportunities in Africa to Watch (https://apo-opa.co/47PmhYd), an annual selection of the continent’s most lucrative business ideas and investment opportunities curated by Activator HQ.

Following two years of slow post-COVID recovery, 2024 presents several interesting opportunities for business startup and growth in Africa. While Nigeria, South Africa, Egypt, Kenya and countries across the continent offer unique opportunities and challenges for new business and investment, economies like Senegal, Ethiopia, Tanzania, Cote d’Ivoire, Rwanda, Burkina Faso, The Gambia and Benin could grow by more than 6% in 2024, twice higher than the global growth of 2.9% projected by the International Monetary Fund (IMF).

The Africa Top 100, now in its 7th year, identifies specific business ideas and investment opportunities in over 30 growth markets, industries, value chains, and underserved niches across Africa. Each opportunity in the Top 100 is selected based on their relevance to local market needs, lucrativeness, competitive superiority, export potential, and innovation.

Each opportunity in the Top 100 is selected based on their relevance to local market needs, lucrativeness, competitive superiority, export potential, and innovation

“The new edition, which is the outcome of months of research and analyses that considered dozens of value propositions, market trends, demand-supply gaps, and business models across Africa, only consists of opportunities that have a minimum total addressable market value of $100 million,” said John-Paul T. Iwuoha, Founder and CEO of Activator HQ. “It is interesting to see from our 2024 selection that more business ideas and investment opportunities in Africa are actually borne from unmet market needs, difficult but highly-rewarding problems, and the megatrends we have identified that are currently shaping the continent (https://apo-opa.co/46Sd4gb).”

As a developing region, Africa’s deficits in food security, housing, finance, education, energy and other critical areas are inspiring innovative solutions, products, and services from a growing number of startups and growth-stage businesses on the continent. In essence, for entrepreneurs in Africa, problems are actually opportunities to unlock market value and create compelling value propositions.

“Our mission at Activator HQ (www.ActivatorHQ.com) is to make it easier and faster for entrepreneurs to start and grow businesses in Africa. That’s why our selection of business ideas features inspiring examples of real entrepreneurs, startups, and companies in Africa that are getting results and making impact on the ground,” Iwuoha said. “To reduce the barriers to startup, we have also developed bespoke and professionally-crafted business plans (https://apo-opa.co/470U6Ew) that can be downloaded and used to raise funding or guide the execution of a specific business idea.”

Highlights from Activator HQ’s 2024 Africa Top 100 Guide:

  • The food sector remains a multi-billion-dollar growth opportunity for the continent. The Africa Top 100 features several business ideas across the food value chain, from agricultural production to processing, marketing, and services in local and export markets.
  • The digital economy presents a $180 billion opportunity for Africa by 2025. With the world’s youngest population, digital skills training and outsourcing is a strategic but underexplored market gap that brims with innovative ideas for new businesses and investments in Africa, particularly for high-demand skills like cybersecurity, data analytics, digital marketing, and software development.
  • The circular economy: recycling of waste, such as generating electric power from landfill waste, recovering scrap metals for reuse, and processing municipal wastewater into potable freshwater, hold interesting business and investment opportunities that could, conservatively, inject an additional $8 billion into the African economy according to the United Nations Environment Programme (UNEP).
  • The energy value chain is rich with opportunities for Africa. The combination of climate change effects, rising renewable energy penetration, and soaring energy prices precipitated by the Russia-Ukraine war has created market gaps and opportunities for more African gas supplies to Europe. There are also opportunities for local substitution of cooking fuels like firewood and charcoal with natural gas, and solar power applications for cold chain solutions.
  • Financial services remain one of the fastest-growing and most lucrative sectors in Africa to watch in 2024. While payments and consumer finance usually get most of the attention, niche opportunities like diaspora investment funds and female-focused finance are spotlighted in the latest Africa Top 100 guide.

“I am very proud of the meticulous work the team has put into the 2024 edition of the Africa Top 100,” Iwuoha continued. “In contrast to the mainstream stereotype of Africa as a ‘poor continent’, the impressive ideas in this guide show the sheer abundance of opportunities in Africa for new businesses and investments. The spirit of entrepreneurship is bursting with energy on the continent and I am optimistic that many of the ideas in our 2024 edition will inspire new businesses, products, projects, investments, and income streams in the new year.”

The Top 100 Business Ideas in Africa to Watch in 2024 is available on the Activator HQ website at https://apo-opa.co/41hkLvm.

Distributed by APO Group on behalf of Activator HQ.

Business

SLB commissions new fluids systems plant in Pemba to support Mozambique’s offshore energy development

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Mozambique

New facility expands in-country drilling and completion fluids capability, advancing the next phase of SLB’s growth in Mozambique

PEMBA, Mozambique, October 9, 2026/APO Group/ –SLB (NYSE: SLB) (www.SLB.com) announced the opening of a new fluids systems plant in Pemba, Mozambique. The new facility strengthens in-country capacity to prepare, store and deliver drilling and completion fluids for offshore operations, reinforcing the infrastructure needed as Mozambique’s offshore activity grows and its role as a strategic energy hub for East Africa continues to expand.

The commissioning of the plant, also known as a liquid mud plant, coincides with SLB marking 70 years of operations in Mozambique. It reflects the company’s long-term commitment to investing in people, infrastructure and capability that support the country’s long-term offshore energy development plans.

 




  

With an initial storage capacity of 21,000 barrels, the liquid mud plant provides a scalable platform for future growth, supporting multiple customers and rising offshore activity while improving logistics and enhancing operational flexibility.

As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions

“As SLB marks 70 years in Mozambique, this investment reflects our confidence in the country’s future and our commitment to supporting its energy ambitions,” said Miguel Baptista, Central, East and Southern Africa, Managing Director, SLB. The new liquid mud plant strengthens local energy infrastructure, expands opportunities for local content development, and enhances our ability to support customers as they deliver some of Africa’s most significant offshore energy resources.”

The liquid mud plant project was delivered with strong local participation and that momentum is expected to continue into operations. During project delivery, more than 100 jobs were created in Pemba with nationals representing 80% of the workforce, reflecting a focus on building local capability.

The project was delivered with a strong focus on safety, operational integrity, and quality, achieving more than 67,000 hours worked without a recordable safety incident.

This key infrastructure strengthens SLB’s ability to support consistent service quality and enhance supply chain readiness for increasing offshore activity across Mozambique, supporting customers execute safely and efficiently while developing local skills and expertise.

Key Points:

  • SLB has commissioned a new fluids system plant in Pemba, expanding in-country drilling and completion fluids capability for offshore operations.
  • With an initial storage capacity of 21,000 barrels, the facility provides a scalable platform to support growing offshore activity in Mozambique.
  • The investment marks the next phase of SLB’s growth in Mozambique, strengthening local capability and supporting long-term offshore energy development.

Distributed by APO Group on behalf of SLB.

 

 




 

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South African Energy Storage Association (SAESA) welcomes 4,600 MW battery storage prioritisation and calls for integrated energy planning

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Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply

JOHANNESBURG, South Africa, October 9, 2026/APO Group/ –The South African Energy Storage Association (SAESA) (www.SAESA.org.za) welcomes the prioritisation of 4,600 MW of battery energy storage under the first Integrated Resource Plan (IRP) 2025 Section 34 determination.

 




  

The timing is significant. Recent Integrated Energy Plan (IEP) modelling and assumptions discussions highlighted a fundamental shift that South Africa’s energy planning now needs to capture: we cannot plan the future power system by counting megawatts of generation alone.

We must plan for when energy is available, where it is available, how it moves through a constrained grid and how it is stored and dispatched when the system needs it most.

The announcement reinforces that shift. Battery energy storage systems (BESS) are becoming critical system infrastructure, supporting flexibility, reducing avoidable curtailment, shifting energy into periods of demand and strengthening security of supply.

For SAESA, the message for the IEP is clear: storage, flexibility and system services must be modelled as integral components of South Africa’s future electricity architecture, with their contribution considered from the outset of generation planning.

“The IEP must plan the power system we are becoming, not simply model the power system we have inherited,” says SAESA.

The IEP must plan the power system we are becoming, not simply model the power system we have inherited

Partnership with C&I Energy + Storage Summit

SAESA is an association partner of the C&I Energy + Storage Summit, created by VUKA Group, taking place on 28–29 October 2026 at The Maslow Hotel, Sandton, Johannesburg.

The summit brings together commercial and industrial energy users, project developers, financiers, regulators and solution providers to explore practical approaches to energy security, procurement and storage deployment.

For businesses assessing how storage can support their operations, the event offers an opportunity to meet SAESA and engage with the wider energy community on the decisions shaping South Africa’s evolving electricity system.

Commercial and industrial energy decision-makers are invited to apply to attend as hosted buyers. Qualifying buyers receive complimentary summit access and curated opportunities to engage with industry partners.

 

Meet SAESA at C&I Energy + Storage Summit: Join the Hosted Buyer Programme

The Hosted Buyer Programme connects commercial and industrial energy decision-makers with solution providers shaping South Africa’s evolving private energy market.

Qualified energy buyers receive complimentary access to the summit and curated engagement with industry partners exploring energy procurement, storage deployment and project development.

Apply for the Hosted Buyer Programme (https://apo-opa.co/4ehLijJ)

Distributed by APO Group on behalf of VUKA Group.

 




 

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Afreximbank welcomes launch of Africa Credit Rating Agency as an important step in strengthening Africa’s financial architecture

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Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets

PORT LOUIS, Mauritius, October 8, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) welcomes today’s launch of the Africa Credit Rating Agency (AfCRA), an important milestone in strengthening Africa’s financial architecture and expanding the continent’s capacity to generate credible, independent analysis of African credit risk.

 




 
 

Credit ratings play an important role in determining access to capital, influencing investor perceptions and shaping the cost at which governments, institutions and businesses can finance development. It is therefore essential that assessments of African credit risk are independent, rigorous and evidence-based, while reflecting a complete understanding of the structures, institutions and economic realities being assessed.

The establishment of AfCRA adds an important African-led source of credit opinion to the market. Its value will not be measured by whether it produces more favourable ratings, but by the credibility of its analysis, the quality of its data and transparency of its methodology, and its ability to deepen understanding of African sovereigns, sub-sovereigns and corporate credit.

This is particularly important given that many African issuers remain unrated, while local-currency and sub-sovereign markets continue to have limited rating coverage. Expanding credible rating coverage can improve the information available to investors and support the development of deeper domestic and regional capital markets.

AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans

Alongside fellow members of the Alliance of African Multilateral Financial Institutions (AAMFI), Afreximbank has consistently maintained that African Multilateral Financial Institutions should be assessed on the basis of their fundamentals, performance, legal frameworks, mandates and operating models. Ensuring that these institutional characteristics are properly understood is essential to achieving informed, balanced and credible assessments of African risk.

Commenting on the uniqueness of the African market, and need for AfCRA’s rating methodology to reflect this, Mr Denys Denya, Senior Executive Vice President, Afreximbank, said: “The rating methodology AfCRA develops must recognise the uniqueness of our environment and its institutional structures. The Agency must set its own standards and not follow those set elsewhere — it must build a unique identity that conforms to an ‘African best practice.”

Highlighting the need for the autonomy of the Africa Credit Rating agency as it takes off, Mr Denya added: “Most importantly, AfCRA must set a new benchmark for the continent, maintain its independence, and remain wholly owned and controlled by Africans. We must all use it, and in return expect a complete assessment of where we (Africa) stand: the strengths the market has ignored, and the weaknesses we still need to fix.”

AfCRA should therefore be seen as complementary to existing international and regional rating agencies, broadening the range of credible analysis available to investors and issuers while strengthening competition, transparency and analytical capacity within Africa’s credit markets.

As Africa seeks to mobilise the scale of capital required for industrialisation, trade, infrastructure and economic transformation, credible African institutions that improve information, strengthen market confidence and deepen the continent’s financial markets will become increasingly important.

Afreximbank congratulates the African Union, the African Peer Review Mechanism (APRM) and all those involved in bringing AfCRA from concept to launch, and looks forward to the contribution the Agency will make to deeper, more transparent and more efficient African capital markets.

Distributed by APO Group on behalf of Afreximbank.

 




 

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