5 Untapped Small Business Ideas In Africa in 2023

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1. Financial Services

Percentage of MSMEs in the Industry: 1.1%

The formerly cash-dependent economy is transitioning towards mobile payments. According to our methodology, only 1.1% of small to medium-sized businesses belong to the financial services sector. Small business owners could transition to offer smooth mobile payment options to retailers, customers, and merchants. Additionally, other business ideas include setting up a microfinance business, a bookkeeping business, a POS business, or a lending business.

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