Here’s a look at 8 options
1. Create a BlogDo you have a way with words? Turn those words into cash by blogging for a living. You can blog about anything under the sun, but it’s always best to blog about a topic in which you are both passionate and knowledgeable. Your passion will give you the energy and desire to blog regularly, and your knowledge will give your blog the authority needed to attract and engage an audience. How do you make money from blogging? You have several options:
- Ads: Join a digital advertising network (like Google’s AdSense), and you can place little snippets of code onto your website that turn into ads for visitors to see. When someone clicks an ad on your site, you get a commission.
- Affiliate Marketing: Large retailers (like Amazon) have affiliate programs that allow you to point visitors toward their products in exchange for a commission. For example, you can write about the best books on a certain topic. Amazon will provide special links to those books that are unique to your website. Then, when someone uses one of those links to buy a book, you get a cut of the action.
- Products and Services: You can also sell your own products and services through your website. Are you an interior design expert? Sell design consultations to your visitors. Are you a digital marketing expert? Sell a PDF guide on search engine optimization or getting more social media followers.
- Sponosored Post: Once your blog traffic grows, you can reach out to companies in industries relevant to your audience for sponsored posts. Sponsored posts promote a company’s products, services or brand in a subtle way to a target audience.
2. Start a Vlog“Vlogging” is a term for video blogging. Rather than posting words to a website, you post videos to a platform like YouTube or Vimeo. When you have enough viewers, you can join those platform’s ad networks — which means brief ads will run before your viewers watch your videos. Creativity is key when you get into vlogging. You need to vlog on a specific topic, and you need to make sure your content is something that people interested in your topic would actually want to watch. In fact, you want your content to be so good that people consider it can’t-miss.
3. Go After Freelance OpportunitiesWhat are you good at? Today, there are lots of freelancing marketplaces where you can sell your services to companies that need them. Are you a graphic designer? Can you write a compelling blog post? Do you know how to build a professional-looking website? Use platforms like 99designs, Guru and Upwork to find freelance job opportunities and to secure high-paying work.
4. Pick Up Micro GigsWhat is a “micro gig”? It’s a small service provided in exchange for a small fee. Websites like Fiverr serve as micro gig marketplaces, connecting buyers and sellers so that all parties can benefit. You can do all sorts of work on micro gig websites, including data entry, translations, legal advice and much more. Identify areas in which you have good experience and skills, and then offer your services in those areas on Fiverr or other micro gig sites.
5. Sell Your Products OnlineDo you make something that others would want to buy? Or, do you have access to a product that’s only available in your local area? If so, consider selling on sites like Etsy, eBay or iwearafrican.com.You can even sell on social media through Facebook groups, Facebook marketplace, and other similar platforms. You can focus on a specific type of product (like handmade jewellery), or you can look for general deals that allow you to resell online at a profit. Think through what you can make or what’s available near you, and then explore taking those products to an online marketplace. You can also sell non-tangible goods. If you are a skilled graphics designer or website developer, you can open up a shop and list your products on sites like Creative Market and Envato.
6. Write an E-BookDo you have something to say that needs more space than a simple blog post? It’s time to write an e-book that can be sold through Amazon’s Kindle Direct Publishing or other digital channels. People self-publish both fiction and non-fiction each and every day using online tools. If you have a story that demands to be told, spend time writing it out and then share it online to make some money.
7. Rent Out A Room OnlinePeople visit your hometown all the time, and they need quality places to stay. If you have a room to rent, place a listing on home-share sites like Airbnb and HomeAway. Then, when someone is visiting your city, they can rent a quality room — and you can make some money off their stay.
8. Become An Instagram InfluencerHere’s an interesting way to make money: If you have (or can get enough) followers on Instagram, companies will pay you to promote their products and services. A good example is @tokemakinwa, who has more than 2 million followers — and who makes boatloads of money from promoting products and services on behalf of clients. 'You cannot score a goal when you are sitting on the bench. To do so, you have to dress up and enter the game' - Israelmore Ayivor Click To Tweet Yes, you can make a great living without even leaving your home. You just need to get started. Does one of the ideas listed above stand out to you? Start by taking a small first step, and then continue exploring how you can turn your interests, skills or experience into cash.
Pan African eCommerce Giant Jumia Makes History with NYSE listing
Jumia Technologies made history on 10th April 2019 following the approval of the Securities and Exchange Commission (SEC) allowing the pan-African e-commerce giant to sell its shares on the New York Stock Exchange (NYSE). Consequently, Jumia started trading its shares at $14.50 using the ticker symbol JMIA. This makes Jumia Technologies the first African startup to secure major global exchange listing.
Jumia is currently active in fourteen African countries including Nigeria, Ivory Coast, and Tanzania. The e-commerce platform has 81,000 active sellers with over 5,000 direct employees. According to a statement contained in its recent SEC filing, Jumia Technologies added three hundred thousand new active customers in the first quarter of 2019.
Through the sale of its American Depositary Shares, the company can raise up to $316. According to the Corporate Communications officer, Lisette Kwong, Jumia initially set its IPO at $14.50 but it opened and closed at higher prices.
Jumia’s Brief History and Growth
Jumia was co-founded in 2012 by Sacha Poignonnec, Jeremy Hodara, Tunde Kehinde and Raphael Kofi Afaedor. The company was an outgrowth of the Rocket Internet Company. However, its rapid growth allowed it to secure funding from investors like Millicom group, MTN, Orange, Goldman Sachs, and CDC. According to The Guardian, MTN is the largest shareholder with 29.7%. Rocket Internet is second on the log with 20.6%. Other investors and their stake include AXA Africa holdings (5.8%), AEH New Africa eCommerce (8.4%), and Millicom (9.6%).
The two Nigerian co-founders, Raphael Afaedor and Tunde Kehinde are credited with the creation of some of the company’s components including JumiaPay. However, they left the company in 2015 to build other startups.
What Next For Jumia?
Jumia’s share price was up by 61% in early trade. Inasmuch as NASDAQ is traditionally for technology companies, Jumia decided to list on NYSE. The Head of International Capital Markets at the NYSE, Mr. Alex Ibrahim said the company did so because they saw the benefits. According to Ibrahim, the volatility of NYSE is higher than its competitors. Speaking on the listing of the company on NYSE, the co-founders said,
“This achievement has been made possible thanks to the hard work of our teams, the trust of our consumers, as well as the commitment of our sellers and partners. All stakeholders deserve credit for this milestone, and we are just at the beginning of a long and great journey. We are going to continue to focus on our mission and to work even harder to help consumers, sellers, partners, and all stakeholders benefit from this technological revolution.”
Jumia is attracting lots of attention but the pan-African eCommerce giant is not a stranger to accolades. Some of the awards on Jumia’s archive include;
- Best New Retail (World Retail Awards 2013)
- Online Retail Brand of the year (Brand Journalists Association of Nigeria (2013)
- The innovative business of the year (Success Digest 2013)
- Leadership ICT company of the year (2013)
- Best use of Mobile App (Rima Awards)
E-commerce website of the year (Beacon of ICT Award)
Gambia’s AfCFTA Ratification Means Africa Will Soon Become The Largest Free Trade Area In The World
The dream for a Continental Free Trade area in Africa became a reality when Gambia ratified the agreement. Initially, prospects of the agreement becoming a reality were hindered by a lack of numbers—falling short on the minimum threshold. With Gambia ratifying the agreement, the bill can now be actualized.
Gambia became the 22nd African country to approve the African Continental Free Trade Area Agreement—AfCFTA. Ethiopia was the 21st country to ratify AfCFTA when it approved the agreement on March 21, 2019. Gambia parliament ratified the agreement on April 2 2019.
African Continental Free Trade Area Agreement
The African Union brokered the agreement in 2018. The agreement was then signed by 44 countries on March 21 2018 in Kigali, Rwanda—out of a total of 55 member states. Among other provisions, the agreement requires member states to remove tariffs from 90 percent of goods. In addition, member countries will be required to allow free access of goods and services across the continent.
From March 17 to March 21, 2018, an Extraordinary Summit on AfCFTA was held in Kigali, Rwanda. During the summit, the agreement establishing AfCFTA was presented to African leaders for signatures. The agreement was framed such that it goes into force 30 days after 22 countries have ratified the agreement instruments. Furthermore, ratifying states are required to deposit the instruments with the Chairperson of AUC—African Union Commission.
Gambia’s ratification and completion of all due processes satisfy this constitutional requirement to bring the agreement into effect.
Only 20 countries have ratified and deposited the required instruments with the AUC Chairperson—as of April 16, 2019. Two countries, Zimbabwe and Sierra Leone, have obtained parliamentary approval but have not deposited the instruments.
The 20 countries that have already deposited the instruments of ratification include The Gambia, Ethiopia, Egypt, Togo, Senegal, Ivory Coast, Uganda, South Africa, Namibia, Mauritania, Mali, eSwatini (former Swaziland), Guinea, Djibouti, Congo Republic, Chad, Niger, Rwanda, Kenya, and Ghana.
Notable Non Signatory
The AfCFTA is moving forward, however, Nigeria’s lack of commitment to the agreement is a big blow. Nigeria is Africa’s largest economy but only an estimated 10% of its trade volume is done with other African countries. Nigeria’s hold out has been blamed primarily on influential Labor Unions
During the 2019 African CEO Forum in Kagali last month, President Kagame of Rwanda who had championed the AfCFTA during his tenure as the African Union Chairperson shared that he had reached out to Nigerian president Muhammadu Buhari to sign the deal.
There are still concerns however about how the agreement will be executed. At the same event, African billionaire Naguib Sawiris said: “The challenges are going to be in the implementation.”
Impact of the Agreement
The AfCFTA is expected to boost free trade and investment across Africa. Once it comes into effect, the African Continental Free Trade Area Agreement area will create the largest free trade area in the world. The agreement will bring together all the 55 member states of the AU. This means the agreement will cover a market of over 1.2 billion people. The Economic Commission for Africa estimates that this agreement has the potential of boosting intra-African trade by 52.3 percent.
Mauritius and Kenya Sign New Deal. Ban Lifted on Kenya’s Produce
Kenya and Mauritius signed a new deal that saw Mauritius lifting a ban on Kenyan farm produce. The new agreement enhances trade between the two African countries. Mauritius had initially banned baby beans, baby carrots, broccoli, and avocados from Kenya. Bilateral talks between Mauritius Prime Minister Pravind Jugnauth and Kenya President Uhuru Kenya culminated in the lifting of the ban on these products.
The bilateral talks also saw the signing of the Double Taxation Avoidance Agreement—DTAA. In addition, the two leaders signed a memorandum of understanding on cooperation for the development of an Export Processing Zone in Kenya.
Kenya and Mauritius also signed an Investment Promotion and Protection Agreement. Other agreements signed include MOU in the field of arts and culture, an MOU in the field of higher education and scientific research, and an MOU on tourism.
Impact of the Deal
The signed agreements will boost Kenya’s ambitions to reach its development goals. According to President Kenyatta, the agreements will particularly boost Kenya’s manufacturing sector and create employment opportunities.
The new deal will further foster cooperation between Mauritius and Kenya. This means that the cordial relationship between the two countries is enhanced. This relationship will boost trade and investment opportunities in both countries.
Both Kenya and Mauritius have long coastlines, and more benefits can be derived in their blue economies through cooperation. President Kenyatta stated that there is a need for the two countries to look for ways of enhancing maritime transport by linking the Port of Mombasa to Port Louis. An established link is considered a catalyst for growing trade and businesses in the two countries.
The key benefit to Kenya from the deal is the promotion of its agricultural produce. Mauritius lifted a three-year ban on Kenyan avocado. Kenya lost the avocado market in Mauritius in 2015. The ban was due to the Mauritian National Plant Protection Office citing low hygiene standards of the Kenyan avocados. Lifting of the ban will now see more exports of avocados to Mauritius, along with other farm produce such as baby carrots and broccoli.
Kenya’s deal with Mauritius follows an initial pact with China. In 2018, Kenya signed deals with China and the Republic of Korea that opened opportunities for farmers to export more agriculture products to the two countries. The Kenya-China agreement opened opportunities for Kenya to export meat, flowers, and a selection of fruits and vegetables to China.
Kenyatta’s visit to Mauritius for the deal makes him the first Kenyan president to visit Mauritius.
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