7 hot Agro business you can invest in Nigeria

Huge investment opportunities lay fallow in the Nigerian agricultural sector. This is so because agriculture remains the largest sector of the economy, It generates employment for about 70% of the Nigerian population and contributes 40% to the GDP with crops accounting for 80%, livestock 13%, forestry 3%, fishery 4%.
As the government working hard to switch direction towards the non-oil sect, agriculture is one sector which is really gaining grounds with its past glory, it has been the center of the country’s economy growth before and still possess the capacity to scale and generate enough wealth for the country. Smart business people in Nigeria are already keying into this switch and investing in the agro-related business and here’s a list of a few of them you can go into:

Local rice production and distribution

Rice investors in Nigeria stand to gain ROI of up to 42%.  According to report, the national paddy rice production has said to have increased by an additional seven million met­ric tonnes while net incomes of farmers have risen by $2.5bn be­tween 2012 and 2014 little wonder companies like Dangote investing $1 billion for large scale production.Reports say Nigeria is looking to be a net exporter of rice.
While the small scale business man may not have the financial power to go into massive production of rice, opportunity abounds in the wholesale and retail selling of locally produced rice in Nigeria, within and outside Africa. With the Government looking to flood out foreign competitors, Nigeria is looking to be a net exporter of rice.

Horticulture sub-sector

Nigeria is the second largest producer of citrus, the largest producer of pineapple, mangoes and tomatoes in Africa. But imports orange juice and concentrated from South Africa and tomato pastes from Latin America and China. This serves as an opportunity for business people tap into and make good money. Knowing fully well that there is market available for this products.

Cassava

Cassava is used for producing flour in Nigeria and can be used as partial substitute for imported wheat flour in bread and confectioneries, starch, sweeteners, chips and ethanol. Reports show that thirty bakeries including international supermarkets like Shoprite and park n shop regularly sell cassava-wheat flour bread.

Yam exportation

Yam is an important food crop especially in west Africa. Reports claim west Africa accounts for 90-95% of worlds yam production with Nigeria being the largest single producer,  and in 2004, global yam production was 47 million metric tons(MT) with 96% of this coming from Africa. Nigeria alone accounts for about 70% of world production of yam.
Apart from serving as food, it has industrial uses. It is used in production of all-purpose adhesives. these adhesives are used in hr production of cartons, packaging companies and also shoe producers.
some industries particularly in Europe use yam flavour in preparation of high quality biscuits, bread,cakes etc.
The average consumption rate of yam and its bye-products in Nigeria is estimated at 0.5-1.0 kg daily. The demand for the commodity is expected to be fueled by the over 17million Nigerians living outside the country.

Natural rubber export from Nigeria

Natural rubber performs main function in our national economy; these are provision of raw materials to agro-based industries, it provides foreign exchange earnings and places Nigeria in the world map as a net exporter of rubber, and it provides employment to Nigerian farmers
according to the international rubber study group, the global demand for natural rubber may reach 12.4 million tons by 2015 and 14.2 million tons by 2020, while the production of natural rubber can reach only 13.6million tons/year in 2020. The gap in supply is an opportunity for investors to go into the production and or exports of the commodity.

Export of cattle horns from Nigeria

Horns are gotten from slaughtered cattle. with over 180million people in Nigeria, the demand for protein gotten from cattle meat is huge, this implies high number of cattle slaughtered daily to meet demands and in turn business opportunity to amass enough cattle horns for export purposes. Cattle horns are used in the preparation of medicines, button, spoon and fork, jewelries, belt buckle etc
Reports claim an estimated ROI between10%-20%

Cocoa production and exports

Reports say cocoa production grew from 250,000 MT in 2011 to 370,000 MT by 2013, and cocoa exports earned over $900. The revolution of the cocoa industry has seen huge investments by large companies with $20 million invested to procure cocoa from over 20,000 certified cocoa farmers.
This presents a huge opportunity to small scale farmers and business people whole look to start agro business to look into. Business people can source local farmers in the rural areas, display these products on a platform like cokodeal marketplace where products like these can be sourced and then make huge sales.

All the best as you choose your agro based business and invest wisely.

Online marketplace to promote locally manufactured goods to emerging new markets

Economy experts have pointed manufacturing as central to a sustainable economy in Africa, According to World Bank Economist Hinh Dinh: “It is the responsibility of African governments to bring foreign direct investment (FDI) to manufacturing to create jobs. The history of economic development is such that any country would need to start producing basic household goods. Over time they moved to higher value goods. No country in the world has developed without producing light manufacturing. And no country can skip it.”

The African Government diversifying its economy has been timely in a period like this. Growth in manufacturing has been rapid at a pace of almost 18% p.a accounting for 9% of GDP during 2013 compared 2.5% as thought prior to rebasing. In spite of improvements, the obvious difficulties facing manufacturing in Africa still looms around poor patronage has been a big issue with locally made products in Africa, During 2013, Africa imported US$240bn worth of manufactured goods compared to almost US$66bn worth of manufactured exports. the continent imported US$18.7trn worth of merchandise goods during 2013 compared to just US$6trn at the turn of the century.

What this tells us is the high patronage of imported goods as compared to locally produced ones. Of course people might argue poor quality as the reason for this preference, but that’s a misconception, which should be reduced in order to boost manufacturing in Africa. The need to get patronage for goods produced locally birthed the cokodeal.com an online marketplace for manufacturers and exporters in Africa. To connect locally produced goods to emerging markets and get more customers, thereby promoting Africa’s local content. Trade would play a big part for the transformation for the African manufacturing sect.

According to the CEO of cokodeal.com, Mr Mike Dola expressed success stories of gaining new markets for local manufacturers, hereby increasing demand for businesses on cokodeal.com platform, which serves as the hub for local manufacturers in Africa to display their products thereby meeting more customers within and outside Africa. With free trade zone and government policy in support of trade in African region, there is a need for seamless intra-Africa trade that cokodeal.com aims to bridge. Africa is rich in raw materials and resources necessary for manufacturing, also blessed with tremendous human resources who are ready to work. When these manufacturers produce, they need to make sales, they need patronage, and with platforms like cokodeal.com, local manufacturers have the right tool to connect to new markets.

Cokodeal online marketplace is built such that it promotes Africa’s local content globally. It has a multiplatform where one can promote locally produced goods across several countries within the platform. Manufacturers can easily create and manage their online store and it is very cost effective and easy to promote products across several cokodeal country platforms.

Whatever ever phase Africa is today is as a result of Africa realising it has to look within to maintain improvement and stability in its economy. Manufacturing should be key to this transformation, however, when these manufacturers are empowered, what happens to getting customers for their products, what happens to easy sourcing of these produce by business people and customers? These days people can be in the comfort of their rooms and place order online to be delivered to their doorstep, business practice is evolving, so should the approach of manufacturers in Africa.

By embracing technology, manufacturers can connect to new markets, which make it easier for businesses in different African countries to connect and trade. The business man can place orders, discuss shipment agreement and have products shipped to their country even without leaving his country. The world today is operating automated business process, and we have to be a part of it, to improve our trade activities and ultimately make sourcing local raw materials for manufacturing and export easy.

Cokodeal.com cuts business cost for SME’s

It is imperative to understand the role technology has forced on us all, as we transition from an analogue system of trade to digital, forcing out old methods and creating new ones we have to adapt with. It was published in the media recently; “Online shopping booms, states and businesses lose revenues”. This is as a result of a progressive shift in the way trade is carried out.

The electronic trade has got us familiar with new terms like e-shop, e-store, storefront and marketplace. These are terms that represent a virtual setup of ones store on the internet that can be open for trade 24hour with ease of access through mobile phones, apps and desktop using the internet.

In recent times we have seen development that e-companies like Dealdey has brought to the online industry by driving huge volumes of customers to sellers through a discount pricing system, which helps the seller to reach interested individuals with their product offering, saving cost of marketing for small businesses.

Also getting familiar with terms like affiliate, that is more common to sites like Konga and Jumia, they host thousands of small scale businesses that sell hundreds of goods through their platform, which helps to drive sales for the business owners. In the recent black Friday hosted by the platforms, sales generated by these platforms for business owner were in volumes that wouldn’t have been possible by the brick and mortar physical shops.

Furthermore, marketplace like cokodeal.com that helps manufacturers and exporters’ drive their growth to intra Africa trade, this saves huge advertising cost,  by creating market linkage to new emerging markets for manufacturers and local producers in Nigeria. Cokodeal.com has successfully helped manufacturers link with interested buyers out of the shores of Nigeria, making such businesses capable of more international trade.

As explained by an economist with the Kaduna state Ministry of Budget and planning, Mr Yusuf Auta, states that in spite of the risk associated with online shopping, government could still tap from its huge revenue potentials. For instance cokodeal.com partnerships with SMEs, exporters and government agencies in helping them to promote locally sourced goods to a global market has huge potential of driving revenues from other countries and boosting the economy of the nation.

In the turn of the table, business owners need not see online trading as a hindrance to their growth instead see it as a means to save marketing, advertising and staffing costs. As their business can now be accessed globally when registered on these platforms for free. To highlight some of the cost these means of trading saves such businesses; the technical requirement and cost to setup a website, the search engine optimisation that enables easy search of product through the internet, and the ease of communication between buyers and sellers securely has been covered.

All that is required of the business is to register for free and abide by the agreement policy of the platform, upload business and product details and then sales begin to roll in. This can be achieved in minutes and the opportunities for SME businesses are unending. It is obvious that innovation and creativity of the online space is taking over and the world is becoming a global village, therefore SME’s must see online market place as the next big space to tap into instead of seeing it as a threat. If businesses do not take advantage of the huge benefits now, they may be left behind.

appeared on Naija247news.com

http://naija247news.com/2015/12/cokodeal-com-cuts-business-cost-for-smes/

Welcome to Cokodeal blog!!!

Cokodeal blog is finally live!!!

It has been an intense but fulfilling journey getting cokodeal marketplace up and running. In essence it is a part of our belief and love for Africa. It all took longer than we thought it would take, as it is a platform designed from scratch codes since its inception in June 2013.

The company is a product of an ardent desire for an Africa that will be the convergent point of global trade and not a continent that is at the mercy of foreign aid. We think that there is urgent need to consciously expose African produced goods so as to change the world’s perception of Africa being a predominantly consumer market.

Cokodeal Limited, a UK – African multinational company is determined to help Africa take advantage of its large market through cokodeal.com: like alibaba.com in Asia. Cokodeal.com is Africa’s largest locally produced commodity export e-commerce site, with presence in Tanzania, Ghana, South Africa, Nigeria, Rwanda, Kenya and Zambia. The company provides an online marketplace where individuals and businesses can buy, import and export goods and services solely produced in Africa.

Cokodeal.com will help African manufacturers, farmers, textile industry, solid mineral miners/traders, SMEs and service provider to easily connect with prospective business partners outside Africa. It will also go a long way to promote intra Africa trade.

We want to thank friends, family and partners who supported cokodeal through their assistance with ideas, concepts, design, network, social sharing and just overall support. And of course thanks to the first customers in 2014 who had so much patience and understanding with the small bugs and hiccups of a new website, as we were working on it and continue to improve it.

To visitors, a big hearty “welcome”” and we hope you find what you want and need in our marketplace, we aim to offer you excellent services and ensure security protection to keep you happy at all times.

Cokodeal.com will contribute in no small measure to the promotion of the African local content which is imperative to the transition of the continent from the third world to first world.

Looking forward to this journey and new adventures in the future.

Cheers.

Signed

Mike Dola

(Cokodeal.com CEO)