Anybody doing bussines in/with Africa?

Gator · 08-09-2008, 08:27 PM

Today I had interesting conversation with one gentleman who is doing (legal) bussines in Africa. Higher/high risk and huge profit margins. Just curious if anybody does any biz in Africa?

Jett · 08-11-2008, 09:20 AM

There no high risk at all as long as the system works and you work the system then it's all good as if your in the most capital country.

Gator · 08-11-2008, 10:20 AM

I don't say its risky to do biz there as a rule. I say there are SOME risky bussineses and there are non risky. The same as anywhere in the world. Of course the percentage of risky bussineses in Africa is bigger.

Bill Moran · 08-14-2008, 02:00 AM

Hi all

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Till you do business with someone how can you tell? You are just as likely to meet a 'bad' person where ever you are!!!!!!!!!!! You need to develop a 'Gut' feeling - which comes from experience of meeting all sorts of people

Yes you are likely to meet more 'bad' people in a slum environment than in a penthouse, but what are the circumstances each are in - the slum environment has created some excellent entrepreneurs and so the penthouse has created some of the best fraudsters - anyone seen Billionaires Boys Club?

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Gator · 08-14-2008, 03:39 PM

Allright guys, just forget that part about risky biz and bad or good people. I was wrong to start it like that, it turned off topic.

Thread from now on is just:
Anybody doing bussines in/with Africa? Share your thoughts if you do/did

johnbears · 08-14-2008, 06:16 PM

Quote:

Originally Posted by Gator

Allright guys, just forget that part about risky biz and bad or good people. I was wrong to start it like that, it turned off topic.

Thread from now on is just:
Anybody doing bussines in/with Africa? Share your thoughts if you do/did

A friend wants to start a fast food biz in Nigeria. I dont have any details tough.

harryccf · 08-16-2008, 11:24 AM

North Africa has many opptunity.

Gator · 08-26-2008, 12:31 PM

Quote:

Originally Posted by harryccf

North Africa has many opptunity.

What kind of?

FreedomGuard · 08-29-2008, 03:30 PM

I do business in Africa, Nigeria to be exact. It's hard for me to just say it sometimes because of all the stereotypes placed on them but I'm excited about the opportunities there. If you need any questions answered, pm me.

Gator · 11-03-2009, 08:13 PM

Quote:

Originally Posted by FreedomGuard

I do business in Africa, Nigeria to be exact. It's hard for me to just say it sometimes because of all the stereotypes placed on them but I'm excited about the opportunities there. If you need any questions answered, pm me.

what kind of business?

EcoClean · 11-03-2009, 09:36 PM

I used to do a lot of business in West African countries. Dealt in diamonds..... Some great opportunities to be had but also a heck of a lot of scams there in that industry.

peteVA · 11-04-2009, 12:42 AM

I met a guy from South Africa on a forum, I think it was the major Quickbooks forum and we get chatting about things. I mentioned being able to print checks and he said that was not of much use in South Africa, as hardly anyone used them.

I was surprised, as I thought they were quite businesslike there and that certainly in the major cities on par with many industrialized nations.

Oh, no. He told me that if you paid by check you had to hand carry it, as it would be stolen if sent through the mail, so you may just as well go by and pay cash. I thought he was joking, but he assured me he was not. I then got chatting with a salesman with the South African security certificate company Thawte, who I was paying $400+ a year to at the time and he said I had been told the truth, that there was little business conducted by checks, because of disappearances.

More recently, in my wholesale and dropshipping business I have been asked about shipping to South Africa and have found that they do not honor registered mail from other countries and have a very undependable postal service. When I mention this to potential buyers, they agree and say that they can understand other countries not wanting to rely on the South African postal service for guaranteed delivery.

Maybe James Michener painted too rosy a picture of the country, but I felt that South Africa would be about on par with many of the European countries of it's settlers, as well as the leading country in the area. I still believe it is the leading country, by far in terms of business, but it certainly is not what I would consider anywhere near "world class".

As far as most of the other African countries, I think that foreigners do business at the mercy of the rulers, and may find themselves locked out from one day to the next. I certainly would not invest there.

Gator · 11-04-2009, 10:23 PM

Quote:

Originally Posted by EcoClean

I used to do a lot of business in West African countries. Dealt in diamonds..... Some great opportunities to be had but also a heck of a lot of scams there in that industry.

why did you stop dealing? Basicly you go there, buy some diamonds and resell somewhere else? Or is it more complicated?

EcoClean · 11-05-2009, 02:22 AM

Yeah, it's a bit more complicated than that. You really have to know what you're doing and buying. And, in some form, who you're dealing with. If you're buying diamonds from the 'bush' you'll get much better prices, but way more risk. That's pretty much the only way to by cheap stones from over there though. Don't think you'll be able to march into a big safer city like J'berg and purchase large rough stones for under market value..... Won't happen. 90% of stones going through J'berg are controlled by Da Beers and will fetch market value. Like I said, you really have to know what you're doing and where to buy. Hope that helps.

EcoClean · 11-05-2009, 02:28 AM

Oh, and I stopped dealing because, after about 4 years, I got taken for everything..... Stones switched on me. MILLIONS of dollars in large stones switched for a few thousand dollars worth. Went back down to zero. I thought I knew it all about diamonds but I guess I still had another lesson to learn.