Emerging Businesses Transforming Africa

By Oladayo Nuel

African emerging businesses are transforming the economic landscape of the continent in a revolutionary way, with great strides being made in innovation, sustainability, and social impact. Not only are they providing jobs and spurring economic growth, but they are also making Africans proud by showcasing local talent and ingenuity. As they address relevant concerns such as poverty, unemployment, and climate change, these businesses are compelling reasons for the younger generation to embrace entrepreneurship as a viable career choice that is both fulfilling and purposeful. By demonstrating that it is possible to succeed while creating positive change in their societies, these companies highlight the importance of resilience, innovation, and hard work in creating a brighter future for Africa.

1. Jumia
   Jumia, often called the “Amazon of Africa,” is a trailblazing e-commerce business that has revolutionized online shopping in many African countries. Founded in 2012, Jumia provides a platform for selling a diverse range of products, including electronics, fashion, and home appliances. Jumia has been instrumental in developing logistics and payments infrastructure on the continent, bringing products within reach for millions of consumers. Jumia’s impact extends beyond commerce; it has also created thousands of jobs and empowered local entrepreneurs by providing them with a platform to reach greater audiences. Through its commitment to innovation and sustainability, Jumia is not only transforming retail in Africa but also inspiring a new generation of digital entrepreneurs.
2. Blossom Academy limited

Blossom Academy Limited, founded in 2018 by Ghanaian entrepreneur Jeph Acheampong, has emerged as one of the top academies in data science training. Being the first of its kind in Ghana and a pioneer in West Africa, Blossom Academy focuses on developing digital talent to meet the growing demand for data and software experts on the continent.
Since Africa has the youngest population globally, there is enough room to tap this demographic for economic growth.

However, a significant number of young people lack access to digital skills that are required in the modern workforce. According to a recent report by the International Finance Corporation (IFC), nearly 20% of companies in Ghana employ international recruitment for digital skills because of a lack of local qualified staff. Blossom Academy seeks to close this gap with a groundbreaking, skills-oriented curriculum developed in collaboration with industry partners. The academy has been providing sponsored Fellowship programs consisting of intensive training, project-based learning, and mentorship in the past few years. During the 12-16 week training duration, students work on real issues of organizations, acquiring hands-on experience while being mentored on leadership skills. The academy has been able to place 100% of its graduates in 24-week internships, easing their transition into employment.

About 85% of graduates find permanent employment within 45-60 days of graduation, with many of them reporting substantial salary hikes—often doubling or tripling within a year. Blossom Academy has partnered with over 200 companies in Ghana and Nigeria, with about 40% of these companies establishing new analytics departments to take in the incoming talent pool of qualified graduates. This collaboration not only meets short-term talent needs but also fosters a culture of data literacy within local businesses. In addition to training new professionals, the academy has also recognized the need for upskilling existing employees in SMEs and startups. The majority of companies express a desire to expand their technical teams but are deterred by a shortage of funds. To combat this, Blossom Academy collaborates with government agencies to provide upskilling based on the individual needs of local businesses.

Blossom Academy’s influence on education and workforce development has been highlighted by several notable platforms, including the United Nations Decent Jobs for Youth, CNN International, and a billboard on the Nasdaq Tower in Times Square.

In the coming years, the academy aims to further scale its impact by building a pipeline of freelance jobs for graduates and imprints on freelance platforms such as Upwork and Fiverr. This strategic plan will enhance career prospects for graduates and bridge the digital skills gap within the region. Through its commitment to education and innovation, Blossom Academy Limited continues to be a driving force behind the future of data science in West Africa, equipping the next generation of professionals with the skills to thrive in a progressively digital world.

3. M-Kopa

M-Kopa is an innovative solar energy company that deals with providing affordable and sustainable energy products to off-grid households in East Africa.

Founded in 2011, M-Kopa uses a pay-as-you-go model, enabling customers to access solar energy without the burden of upfront costs.
By leveraging mobile technology, M-Kopa has enabled over a million households to access clean energy, significantly improving living standards and consumption of hazardous fossil fuels. Its success has not just enhanced energy access but also stimulated local economies by creating jobs and inspiring entrepreneurship in solar installation and distribution. M-Kopa’s initiative to provide energy for all is an excellent illustration of how innovative business models can be utilized to address social and environmental issues.

4. Micohype Beauty Hair
   Popular Micohype beauty hair may not be the most famous hair designer in the world, but it is a force to reckon with in Africa. They are a pioneering Nigerian hair designer to take their hair designs outside the shores of this country.

Micohype is a contemporary Human hair brand founded by Michael Oyeleye and Tammra Jean in 2018 with Nigerian roots, Oyeleye has fused his cultural upbringing with an international perspective to create vibrant womens hair pieces. Their designs are often described as eccentric and daring, often mixing bright colours and bold patterns aswell as natural and contemporary styles. Each piece’s distinctive style speaks to the brand’s multicultural heritage.

Today, Micohype beauty hair is a popular brand in Nigeria, South Africa, Nairobi, Ghana and Cairo. The hair firm does not believe in so many advertisements, but it believes in fashion shows. It was the first hair fashion designer to erect seven billboards 2 years ago in kwara state.

Micohype beauty is one of the leading hair fashion designers and manufacturers in Africa. The fashion house has its operations in Ghana, Senegal, Nairobi and Johannesburg in South Africa. Their design are also appreciated outside Africa.

In 2022, Nigeria’s Ambassador to Ghana, Ambassador H.E. Ibok-Ete Ibas, praised the founder of micohype for his courage in answering the call to further strengthen the ties between both countries through trade. He offered the brand the full support of the embassy and its staff while also pleading to other entrepreneurs in Nigeria to take advantage of the immense potentials in Ghana.

Due to micohype stunning and sophisticated designs, celebrity and influencer endorsements, and the fact that over 36% of their buyers are from outside the United States, micohype has garnered a lot of attention since their start.

Micohype is one of the biggest fashion hair brands in Africa for women that sells both hair and hair accessories. What sets micohype apart is that each piece has its own unique story, from the initial idea to the finished product. The collection incorporates a combination of textiles and bright colors to create globally acceptable hair designs.

5. Flutterwave
   Flutterwave is a fintech company that has emerged as a leader in digital payments across Africa, processing transactions seamlessly for consumers and businesses.

Founded in 2016, Flutterwave provides a payments infrastructure that is robust and enables businesses to accept payments in different currencies and payment methods, simplifying cross-border transactions significantly for businesses.

The platform has gained a reputation for ease of use and strong security features, attracting a variety of clients from startups to more established enterprises. Flutterwave’s impact on the African economy cannot be overstated, as it enhances financial inclusion, boosts e-commerce, and facilitates the growth of the tech ecosystem. Through its empowerment of businesses with essential financial solutions, Flutterwave is urging young entrepreneurs to access the broad opportunities of the digital economy.