Web AgroPLUS 34 January

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SIX REASONS WHY YOU CAN NEVER BE A BILLIONAIRE (IN US DOLLARS) IN ZAMBIA (PART 1). 1.) GROSS DOMESTIC PRODUCT PROBLEM The Gross Domestic Product is the measure of all goods and services produces in a country.As of December 2018, Zambia’s GDP hovers around US$22 BILLION. Having only 1Billion dollars means you own about 4.5 percent(4.5%) of the whole Zambian economy.Currently,no one owns more than 4% of their economy they are domiciled. 22
Not even Jeff Bezos the richest man in the whole world who is worth more than 5 times the Zambian Economy. SOLUTION People who became the richest did something very new and often smart.Bill gates made it possible for computer hardware to run very good software thereby getting paid for every windows computer ever made.Thats a lot of computers. Jeff Bezos’ Amazon as of <strong>January</strong> 2019 believe it or not owns 40% market share of the world’s E-Commerce. That is a large number. There are many examples most of whom are tech based. It is very difficult to get massively wealthy using Aliko Dangote,Amencio Ortega,Carlos Slim or Bernard Arn o l d you can come up with machines that are the most intelligent in the world,chances are that a company such as Soft Bank will buy your business for billions hence becoming a billionaire in Zambia and most likely the world. 2.)POPULATION PROBLEM The Zambian population stood at 13.1 million people in 2010 according to the 2010 Census.We can safely assume that the population is currently around 15 to 17 million people. Business thrives in areas where there are large populations especially of high net worth individuals.The Zambian population is not large enough for an individual to harvest US $US1 billion in profits over a healthy period of time. In India or China, a simple business can earn make a lot of money even in the face of stiff competition.This is one reason why as of 2018 most world Economies have grown by less than 5% but China grew by 6.6% in 2018. The question that comes to everyone is wait!The Nordic countries(Denmark,Norway,Sweeden,Finland,Iceland) have smaller populations than Zambia but have very rich people and large companies. Well the answer is lies in the European Union and Europe as a whole.The European Union is the biggest Economic trading block in the world meaning it is a collection of countries that work together to achieve economic prosperity.The Nordic nations enjoy the vast business activity of the EU. Norway has specialised trade deals worth billion of dollars with the EU. Zambia on the other hand is only sorrounded by poor countries which share the same problems such as corruption,low net worth individuals,poor institutions and so on. t o mention a few models of selling non durables because of the competition. As a Zambian you need to come up with an idea that can change the world especially tech based. Currently the hottest upcoming tech is Artificial Intelligence.If SOLUTION Increase the market for your goods and services to a wider population than Zambia.This is only possible by selling your goods and services to other countries preference neighboring countries such as Zimbabwe,Namibia,DRC Congo ,Tanzania and so on.The catch is the boarders in Africa are partially closed. By partially closed we mean there are barriers to your business. One reason is the fact that all countries sorrounding Zambia use different currencies from Zambia and from each other making it difficult to do business. This is because you are exposed to currency risk. Take for instance if you have a branch in DRC Congo.The currency swings in their currency may affect your business badly.This and many 23 20
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