Retirement may seem scary for some but those who live and breathe adventure, never stop because Africa holds all of those possibilities! As someone famously said, “If I have ever seen magic, it has been in Africa.” And there IS magic if you only know where to look! And we tell you how!
So, what do Africa and her many many countries offer the retirees in the west?
If you are looking at a fresh start in the Continent, here’s your answer:
Mentoring, Consulting, Advising: Leverage your Experience
As someone who already has years of experience in the west, a retiree can use that knowledge and skillset to build their career in Africa out of it. You can scour opportunities working as a mentor, consultant, or advisor. For instance, a mentorship program at a university or school, consultancy, or an advisory position at a company exploring avenues in a foreign market.
If you are more inclined towards arts, baking/cooking sports, and music, then you can start your own coaching classes.
Buying And Selling: Be The Player in the Middle
If you know the ins and outs of buying goods at cheaper rates and selling them for profit, then you can start using it to sell it on sites such as Etsy, eBay, Craigslist, or even Amazon.
If you specialize in vintage items or customized items, then it’s a plus considering the sheer diversity and the uniqueness of each country in Africa. Also, there are other alternatives too such as expos, trade shows, and local markets. You only need to understand the local market.
For instance, an emerging market may not have a demand for handcrafted art by the native tribes but a developed country, on the other hand, may already have a market interested in buying traditional handmade tribal products. This presents a business opportunity that the ex-pat can leverage.
If you need advice on that, then you can get in touch with Africa Business Venture. The organization specializes as a single-window solution for your business market entry in Africa as you find your way in the local market.
Be an Investor: It’s all about the Skills
If you are yet to learn the local market but still want to tap the potential of the African markets as you learn the ways, then starting as a collaboration would give you a good idea. You can invest in an already established brand or get your foot in the door by bringing a multinational franchisee into the country.
Entrepreneur: Start something of your own
When you start out as an entrepreneur from the west, you see an emerging market with a fresh pair of eyes. The product and services that are a norm in the west may just be in the nascent stage in the new country you wish to call home.
As a retiree, identifying and seeking these opportunities and filling the gap comes naturally.
Commercial Establishment owner: Make Passive Income Active
There may be a few hoops to jump if you are a foreigner in an African country but if you do that successfully, you can get rich dividends as a commercial establishment owner. For instance, a restaurant or a Bed & Breakfast’
As a retiree exploring opportunities in the continent, there could be different requirements of the host country you chose, including but not limited to permits, business registration, trading laws, taxes, employment guidelines, and compliance.
So, if you have already thought it over and decided to start a new life in the post-retirement years, the possibilities are endless.