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How to Send and Receive Money in Nigeria

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How to Send and Receive Money in Nigeria

A lot of people have been wondering how to receive funds from their business partners, colleagues, friend, and family member from outside the shores of Nigeria.  If you have a friend or family members, or business partners from outside Nigeria from whom you intend to receive monies. Or you are an exporter, looking for ways to get your payments from the United States, Canada, Jamaica, UK, Germany, Australia, China, UAE, Turkey,  Malaysia, Indonesia, Philippines, Pakistan, India, Cameroun, Kenya, South Africa, etc to Nigeria, read on for we are to give you a step-step guide on how to get your funds across to Nigeria.

From the recently released Central Bank of Nigeria guideline on international money transfer, it is a lot easier now to receive money from outside Nigeria into your bank account or mobile money wallet in Nigeria, than it is to send money out of Nigeria. From the guideline just released by the CBN, there is no limit to the amount of cash one can receive from out Nigeria, but you cannot send more than $2000 or its equivalent per transaction.

We will be discussing; how to receive funds from outside Nigeria into your bank account or mobile money wallet in Nigeria.  Continue reading as we discuss several ways to send money to Nigeria and how to receive the sent funds. We hope the following means discussed on How to Send and Receive Money in Nigeria would be beneficial to you.

 

Ways of receiving money in Nigeria from abroad

There are several ways of sending and receiving money from outside Nigeria, we will be looking at the following which are the most convenient ones for now.

  1. Domiciliary account – International Bank wire transfer
  2. Western Union via Quickteller to your bank account
  3. MoneyGram
  4. Western Union money transfer
  5. Online money transfer
  6. Payoneer

 

Domiciliary Account – International Bank Wire Transfer

International Bank wire transfer direct into a Domiciliary account is one of the best ways to receive foreign currency in Nigeria for those who have a domiciliary account in Nigeria. Most of the banks in Nigeria have domiciliary account types for the United dollar (USD), Euro (EUR), and Great Britain Pound (GBP).  Zenith Bank, UBA, First Bank, FCMB, and GTBank all have various forms of domiciliary accounts.

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To receive money into your domiciliary account in Nigeria through international wire transfer, you have to have a domiciliary account in any of the local banks in Nigeria.

The person sending funds to your domiciliary account in Nigeria will require the following details from your domiciliary account to be able to send funds directly into your domiciliary account. Primary details required are:

  • Your account name
  • Account number
  • Name of your bank
  • The Address of your bank
  • SWIFT CODE of your bank
  • The Routing Number of your bank.

An alert of a successful transfer enters within 72 hours.

 

Withdrawing money from a domiciliary account

You can withdraw cash in the same currency it was sent from your domiciliary account. The process is the same as the withdrawal from your regular naira account. If you wish not to collect your cash in the currency it was sent, you can request its equivalent from your local bank.

  • Go to the nearest branch of your bank once you receive an alert about the international wire transfer.
  • Meet the person in charge of foreign currency transactions.
  • Get the withdrawal slip, complete the withdrawal slip and hand it over for processing.
  • Voila!!!

 

To receive western union money transfer via Quickteller to your bank account

QUICKTELLER Platform is a financial service application that allows you to purchase airtime, pay bills, send and receive money via the web (www.quickteller.com).

Follow the following steps to receive funds from Western Union using Quickteller

  • Visit www.quickteller.com and signup for a Quickteller account
  • Click on the Send and Receive Money tile
  • Then click on the Western Union tile
  • Select your bank, either Zenith, GTBank, or FCMB
  • Also, select “Naira” under “Choose currency”
  • Click “Receive money now” and the Western Union – Receive Money data page opens
  • Now carefully enter the following details:
  • Enter as provided by the sender the MTCN (Money Transfer Control Number)
  • Also, enter the name of the sender’s Country
  • Enter the receiving account number (i.e. your bank account number where you wish to receive the funds)
  • Also, enter the receiving account type i.e. either current or savings
  • Enter the expected amount in Naira as provided by the sender
  • Under Receiving Currency leave the name of the bank and Naira as default.
  • First Name – which is your account’s first name as it appears at your bank. (Receiving Account)
  • Surname – which is your account surname as it appears at your bank. (Receiving Account)
  • Your mobile number
  • as provided by the sender, answer to test question
  • Then click “Continue”
  • Confirm the details provided”

Note: Money from Western Union can only be received from the location indicated by the sender and in the local currency. In this case, the Naira.

 

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Receive money in Nigeria through Western union

I will use Access bank Western Union transfer as a typical example to explain to you how to receive money in Nigeria via western union.

 

Receive Western union Nigeria through Access Bank

Access bank has proven to be reliable when it comes to receiving money from outside Nigeria. With a robust infrastructure, technology, and several years of partnering with Western Union, they have the needed competitive edge.

To receive money from Western Union through Access bank, Access bank will request the following from you before they can process your payment;

  • A valid means of identification, preferably, Passport, Driver’s License, Permanent Voters Card, or National Identity Card (NIMC).
  • Money Transfer Control Number (MTCN)
  • Expected Amount in Naira
  • The receiver’s name, address, and phone numbers
  • Sender’s name and country (for transfers coming from the US and Mexico, city to be included)
  • Test Question and Answer where applicable.

The maximum send amount as stipulated by the Central Bank of Nigeria is 5000 USD or its equivalent per sender.

The steps are the same as other banks such as First Bank of Nigeria.

 

How to receive money in Nigeria through MoneyGram

MoneyGram International, Inc., an American money transfer company with headquarters in Dallas, Texas United States. It has local offices around the world.

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First Bank of Nigeria is one of Nigeria’s banks that offers the best MoneyGram service. We will use First Bank MoneyGram service to explain to you how to receive money in Nigeria through MoneyGram

How to receive money in Nigeria through First MoneyGram

To receive money in Nigeria through UBA MoneyGram;

Beneficiaries of MoneyGram can receive transferred money at any of First Bank outlets by providing the following:

Transfer Reference Number

Expected Amount

Acceptable means of identification (Bank Verification Number)

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Sender’s name and country (for transfers coming from the US, city to be included)

Test Question and Answer (optional)

Fully completed form

Then request that the money be sent to your bank account.

 

How to send money to Nigeria online

There are several companies, most of them in the US that offer online money transfer services to countries all over the world, including Nigeria. A lot of businesses especially in the United States don’t send funds outside the United States. They prefer dealing with people who have an account in the United States. Most of these companies that offer online money transfers took advantage of these.

All you need to do is open a free account with them with the detail we will give you shortly and they open a virtual account for you from where you will be able to initiate international transactions from the comfort of your room.

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The upside of these online money transfer services is that they are quite simple and they pay directly into your domiciliary bank account.

Online money transfers will enable you to take advantage of competitive exchange rates.

However, ensure you signup with an online money transfer service that offers fast transfer speeds.

A lot of companies that offer online money transfer to countries all over the world including Nigeria. Some of them are; Payoneer Smallwordfs, Worldremit, Transfast, Remittanceprices, skrill, etc.

 

To start sending money to Nigeria online

  • visit any money transfer company above (Payoneer our preferred online money transfer services provider ) and Create a free account
  • follow the steps for registration carefully. Provide your contact details, name, proof of identity, and bank account information (if you are not sending cash).
  • Provide contact information for your transfer recipient
  • Select a payment option and enter the full details of your transfer
  • Keep track of the reference number or receipt you receive to monitor the progress of your transfer
  • Select a cash pickup location. Companies like Western Union and MoneyGram offer the option of cash pickups from thousands of agent locations across Nigeria. From Payoneer, you can transfer directly into your local bank account or your domiciliary account.

 

How to Send and Receive Money in Nigeria – Payoneer  (www.payoneer.com)

This is a financial services company that provides online money transfer, digital payment services, and provides customers with working capital.

Payoneer enables millions of businesses and professionals from more than 200 countries and territories to connect and grow globally through our cross-border payments platform. With Payoneer’s fast, flexible, secure, and low-cost solutions, marketplaces, networks, businesses, and professionals throughout the world can pay and get paid globally, as easily as they do locally.

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Payoneer’s cross-border payments platform empowers businesses, online sellers, and freelancers to pay and get paid globally as easily as they do locally.

Also, Payoneer offers to receive accounts via the Global Payment Service, which enables you to receive local bank transfers from companies and marketplaces in the US, UK, EU, Japan, Canada, Australia, and Mexico directly to your Payoneer account.

Quick, easy, and low-cost access to your earnings is critical when growing your business. With Payoneer’s Withdraw to Bank Service, you can transfer funds from your Payoneer account, directly to your local bank account in over 150 countries and currencies. Our comprehensive global banking network enables us to transfer funds from a local bank in your country, so you significantly reduce the cost of getting paid and avoid delays.

 

HOW DO YOU BENEFIT?

  1. Reduce your payment fees

Increase your earnings by reducing your payment fees by up to 71%.

  1. Accept payment in more currencies

Accept payments in USD, EUR, GBP, JPY, AUD, CAD & MXN – as if you had a local bank account!

  1. Offer customers a simple way to pay

Also, offer a simple, quick, and cost-effective solution for both you and your customers!

  1. Get the help you need

Enjoy multilingual customer care 24 hours a day, 7 days a week!

Grow your business globally with a Payoneer account today

Visit www.payoneer.com to open an account for Free

 

 

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How to Send and Receive Money in Nigeria – Wise (www.wise.com)

Wise

Wise (formally TransferWise)– is a London-based online money transfer service founded in January 2011. Wise supports more than 750 currency routes across the world including GBP, USD, EUR, AUD, and CAD, and provides multi-currency accounts.

With Wise, you pay a low, upfront fee between 0.5% and 2%, depending on the route. Wise transfers money directly to your local bank account. This makes them much cheaper compared to other providers and banks.

Wise transfer fees are very low when compared with other companies. For withdrawals of 500.00 USD and under, Wise charges a minimum fee of 10.00 USD.

It is very important to note here that the most convenient channel to receive money using Wise in Nigeria is through a Domiciliary account. We have also written how to open a domiciliary account in several banks in Nigeria.

 

Wise is officially enrolling to be a member of the Amazon payment service provider program, which means that any business selling on Amazon can now officially use Wise to receive their sales earnings in multiple currencies.

 

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Why businesses selling on Amazon should use Wise?

  • No subscription or monthly fees, only pay when you convert money

  • Pay invoices in over 50 different currencies

  • Connect your Wise account to marketplaces to receive money without converting it. Receive USD, CAD, GBP, EUR, SGD, AUD, NZD, and TRY, for free!

  • Integrations with accounting tools, including Xero, Quickbooks, and Freeagent

  • Direct Debit functionality to pay sales tax abroad (available for the US, UK, Europe, Canadian, and Australian account details)

  • Wise debit card (available in select countries) to use for online payments and expenses
  • Discounted fees for high-amount transactions and much more!

    Visit www.wise.com to get started

WorldRemit

This is a financial service institution based in Uk. WorldRemit offers low-cost money transfer services to several countries, including Nigeria. With WorldRemit, you can only receive money in Nigeria, but you cannot send money out of Nigeria.

 

How to Send Money to Nigeria using WorldRemit

  • Visit the WorldRemit website at worldremit.com signup to create an account.
  • Click on my account, then, click on my details to enter all your personal information.
  • Select the country and amount you want to send
  • Enter your recipient’s details (name, address, phone number) and bank details (bank name, IBAN number, and SWIFT code)
  • Pay for your transaction using any of these options; Card (debit, credit, and prepaid), Bank Account Transfer, Poli, Interac, iDEAL, Klarna (Sofort), Apple Pay, Trustly, and Mobile Money.

Note: WorldRemit will verify you before you can send money. So, keep a government-issued ID such as a National ID, Passport, or Driving License handy. Also for the verification of your address, keep handy Utility Bill, or a Bank / Credit card statement that is not older than 3 months.

 

How to Receive Money in Nigeria Using WorldRemit

WorldRemit has two functional methods through which you can receive money in Nigeria; Cash pickup, and Bank transfer.

 

Cash pickup

Your recipient can collect physical cash from the following banks in Nigeria; Union Bank, Access Bank, Zenith Bank, Polaris Bank, First Bank, and Fidelity Bank. Cash is usually ready for pickup at these locations within hours of transfer.

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What does your recipient need to collect cash?

  • Your recipient needs a Valid photo ID that shows their full name. The name on the photo ID must match the details supplied on the transaction. Ensure that you check this very well before sending funds.
  • The thing you recipient need is the transaction reference. This will be sent to your recipient by SMS once the payment is available for collection. Ensure that the phone number of your recipient is accurate before creating your transaction. You can also share the transaction reference with your recipient when the pick-up is ready for collection.

 

Bank transfer

This allows you to send money from your bank account to your family or friends’ bank accounts all over the world. In the case of Nigeria, Money can only be wired to a domiciliary account.  It usually takes up to 2 business days before funds will arrive in your recipient DOM account.

 

The under-listed are some of the online money transfer cash pickup locations across Nigeria;

 

Worldremit transfer to Nigeria

ACCESS BANK – SABO BRANCH

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Address: 290 Herbert Macaulay Way, Yaba100246, Lagos, Nigeria. Hours: 8:00 AM – 4:00 PM. Phone: +234-01-277 0069

ECOBANK

Address: Mushin, 118 Agege Motor Rd, Lagos, Nigeria. Hours: 8:00 AM – 4:00 PM. Phone: +234 704 145 0672

 

Western Union money transfer to Nigeria

ALABA MAIN

Address: 1 Agudosi Street Alaba International Market Alaba, Lagos. Hours: 8:00 AM – 5:00 PM. Phone: +234-01-7613794

KEYSTONE BANK AKOKA

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Address: 23 St Finbarrs College Rd Yaba Yaba Lagos Yaba, Lagos 234. Hours: 8:00 AM – 4:00 PM. Phone: +234-1-7432454

SKYE BANK SHOMOLU BRANCH

Address: 6 Bajulaiye Street Shomolu Lagos, Lagos. Hours: 8:00 AM – 4:00 PM. Phone: +234-1-2703090

 

Moneygram transfer to Nigeria

UNITED BANK FOR AFRICA

Address: RD NNS Quorra Harbour Lagos. Hours: 8:00 AM – 5:00 PM. Phone: +234-01-5872143

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UNITED BANK FOR AFRICA SEME BORDER – #04

Address: Abuja Badagry Express Way Seme Border FCT Lagos. Hours: 8:00 AM – 6:00 PM. Phone: +234-01-2311061

UNITED BANK FOR AFRICA

Address: Luth Road 1 Idi Araba Lagos. Hours: 8:00 AM – 5:00 PM. Phone: +234-01-8114353

 

How to send and receive money in Nigeria- Things to know before sending money to Nigeria

There are a good number of things to know before you send money to Nigeria. Below, we try to point out some of these things that you need to know before initiating a cash remit to Nigeria.

  1. Exchange rates

Most all the online money transfer service providers skew exchange rates to make more profits. You can always compare the exchange rate you are offered with the rate in the international foreign exchange market. Always go for companies that offer the most reliable and cheapest transfer service.

 

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1. Transfer fees

Most of the online money transfer companies charges varying transfer fees. Some of them charge a flat fee while some others charge a percentage of the total transfer sum. Also, some can even offer a fee-free transfer, while others even pay a certain percentage when you make a certain amount of transfer.

 

2. Payment and delivery options

Some online money transfer companies allow you to pay with a credit card, by phone, or through an app. Also, some others receive money on your behalf from your clients or business partners who are unable to remit funds to you directly to Nigeria.  Others offer agent locations for cash payments and pickups.

Before you engage any of the service providers, try to confirm how the beneficiary will receive the transferred funds, whether it is through a bank account, mobile money wallet, or cash pickup.

 

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3. Transfer speed

It is also very important to know how fast funds move. Some companies like MoneyGram and Western Union allow for speedy cash pickup, most time with hours. However, the fast the requested time of delivery, the higher the cost of funds transfer. Independent providers offer cheaper rates but slower terms of delivery speed.

4. Transfer limits:

Some online money transfer companies have a certain limit on cash transfers. Always ask to know this transfer limit. The large transfer also attracts a relatively moderate rate. Compare the rate among these companies.

 

5. “Hedging” options:

Ask your transfer providers if you can schedule payments ahead of time or protect your transfer funds against fluctuations in market prices with a limit order or forward contract.

6. Customer support

This is extremely important. Try to know how responsive their customer support is. In the event of delay or errors, You can contact them through phone, internet chat, or email. Know how readily available you can get assistance when you need one.

Follow the steps listed above from the service providers above and you are sure to receive your funds in Nigeria. Most of them are very simple and easy to use.

In case you have difficulty using any of the services listed, please let us know by dropping your comments, suggestion, or questions in the comment box below.

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BUSINESS

100 investment ideas in 2022 you should not miss. Start with Less than $100

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100 investment ideas you can begin with less than $100. Have you ever dreamed of starting your own business? What’s holding you back?

If the answer is not having enough money to get started, then here’s some excellent news: You can start countless businesses with less than $100.

People do many odd jobs to pay the bills, and no matter what your skills are, there are ways to put them to work. It doesn’t matter if you’re a handyman or an online marketing expert — you can still make extra money on the side.

Here are 100 business ideas to get you started.

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100 investment ideas in 2022 you should not miss. Start with Less than 0Shutterstock

Table of Contents

Direct sales representative

Being a local sales representative for companies like Avon, Mary Kay, and Pampered Chef requires you to spread the word about their products by hosting a party or selling them online. Most starter kits cost around $100 and provide you with everything you need to become a sales rep.

100 investment ideas in 2022 you should not miss. Start with Less than 0Shutterstock

Consulting

If you already have the knowledge or experience in a specific area, such as providing legal advice or showing business how to become more eco-friendly, then you can easily start your own consulting agency. The main costs involved are marketing your business and networking, so invest in a website and business cards. Here is an example consulting guide.

100 investment ideas in 2022 you should not miss. Start with Less than 0Shutterstock

Senior home companion

In 2016, there were more than 49 million people in the U.S. alone aged 65 years or older. That figure is expected to grow to around 98 million in 2060. That means that there are lot of seniors who looking for someone to keep them company or families looking for advice on how to care for their loved ones.

100 investment ideas in 2022 you should not miss. Start with Less than 0Shutterstock

Tutor

There are a lot of students who need assistance in every subject, ranging from elementary school to college. If you have this knowledge, then starting your own tutoring service can be an appealing business idea that requires almost no capital. After all, the students already have the learning materials with them.

100 investment ideas in 2022 you should not miss. Start with Less than 0Shutterstock

Freelancing

Whether you’re a writer or web developer, freelancing can be a lucrative business idea that pretty much requires nothing more than your talent, laptop and internet connection. Thanks to the numerous websites that post freelance gigs, you should have no problem starting out. Here is a freelancer guide that will help you every step of the way.

 

100 investment ideas in 2022 you should not miss. Start with Less than 0Shutterstock

Vlog with YouTube

Since every laptop, tablet, and smartphone comes equipped with a built-in camera, anyone can start creating videos and posting them to YouTube. If you have knowledge you want to share, or are just incredibly charismatic, then you can start profiting from your vlog through ads.

100 investment ideas in 2022 you should not miss. Start with Less than 0Shutterstock

Auto repair/detailing

If you have a garage, tools and knowledge, then why not start your own auto repair shop? Even if you don’t have a garage, you could start a mobile auto repair business where you go to the broken-down vehicle.

If you like the idea of working with vehicles but you aren’t a mechanic, then consider washing and detailing cars. (I had a former colleague who did this on the side, and eventually, he was able to make this into a full-time gig through word-of-mouth recommendations at work.)

100 investment ideas in 2022 you should not miss. Start with Less than 0Shutterstock

Sharing economy rentals

Thanks to the “sharing economy,” more and more people are opting to rent items instead of purchasing them. You can rent out things ranging from your parking space to your furniture. Try starting with a niche and slowly working your way up. For example, you could start renting out yard equipment like rakes, shovels or leaf blowers. If you don’t already own them, you can purchase them for less than $100.

 

100 investment ideas in 2022 you should not miss. Start with Less than 0Storyblocks

Managing web design

There are countless sites out there that teach you basic web design. Learn a new skill today. Even if you aren’t a web designer, you could find a designer affordably and still charge less than professional web design firms. They key here is managing the process — most businesses don’t want to do this and are willing to pay.

100 investment ideas in 2022 you should not miss. Start with Less than 0Storyblocks

Handyman

If you’re able to make minor household repairs, like switching out a broken electrical outlet or sealing a pipe under the kitchen sink, then this is another in-demand business that doesn’t cost much to launch. You could even consider starting out on TaskRabbit, a marketplace platform for small jobs.

100 investment ideas in 2022 you should not miss. Start with Less than 0storyblocks

Menu planning

Plenty of people are indecisive when it comes to their food. That’s why they’re willing to hire someone to help them plan out their meals. This is a low-cost idea for anyone who enjoys working with food but doesn’t have the resources to prepare and serve it.

100 investment ideas in 2022 you should not miss. Start with Less than 0Storyblocks

House-sitter/pet-sitter

This idea essentially requires no initial investment. You can start asking your family, friends and neighbors if they need someone to watch their home or pet when they go out of town.

 

100 investment ideas in 2022 you should not miss. Start with Less than 0Shutterstock

Lawn care

If you have a green thumb, enjoy being outside and have the tools to get started — like a lawnmower, weed-whacker or chainsaw — then this is a no-brainer of a business idea. The only main cost is advertising and marketing your business.

100 investment ideas in 2022 you should not miss. Start with Less than 0Storyblocks

Homemade gourmet foods

Whether if it’s soup mixes, jellies or chocolates, people love gourmet food products. And since you probably already have a kitchen, you just need cooking supplies, packaging and basic marketing materials to get started.

100 investment ideas in 2022 you should not miss. Start with Less than 0Shutterstock

Professional organizer

We live in a materialistic world, and it’s easy to start getting overwhelmed by all the stuff that’s consuming our homes. Just look at the rising popularity of Marie Kondo. Professional organizers can help people get their homes back in order for no more than $20 or so on classified ads.

100 investment ideas in 2022 you should not miss. Start with Less than 0Storyblocks

Green cleaning service

Cleaning services are a dime a dozen. You can stand out from the competition by offering a green cleaning service that uses eco-friendly and natural products. You may even be able to make some of them yourself and sell them for extra cash.

100 investment ideas in 2022 you should not miss. Start with Less than 0Storyblocks

Grocery delivery

Some major grocery stores offer delivery services, but not all of them do. There’s a chance your local supermarket doesn’t, either. That’s when you can charge customers to have you go to the store for them and then deliver groceries to their homes.

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Personal concierge

A personal concierge takes care of everything from taking clients to the airport, bringing the dog to the vet or managing schedules. It’s essentially being someone’s personal assistant.

100 investment ideas in 2022 you should not miss. Start with Less than 0Shutterstock

Creating information products

If you have experience with a specific niche, then you can start selling your knowledge by creating products like eBooks or instructional videos. The cost is usually no more than your time, domain name and web hosting.

100 investment ideas in 2022 you should not miss. Start with Less than 0Shutterstock

Blogging

If you’re familiar with a specific topic, then you can launch a blog where you share your knowledge. You can earn money by selling ad space, becoming an affiliate or starting a subscription service. Here’s a resource to getting started with blogging. (I followed its tips and was able to personally create a solid four-figure income within around 12 months.)

Related: 10 Keys to Make Millions Blogging

100 investment ideas in 2022 you should not miss. Start with Less than 0Storyboards

Window-cleaning

Window-cleaning is many people’s least favorite household chore, and a window-cleaning service doesn’t require much capital to become profitable.

100 investment ideas in 2022 you should not miss. Start with Less than 0Storyblocks

Interior designer

Both homeowners and business owners are looking for people to design comfortable, organized and productive spaces.

100 investment ideas in 2022 you should not miss. Start with Less than 0Shutterstock

Flier distribution

Local businesses still hire people companies to hand out fliers or place them under windshield wipers. You essentially just need to make a lot of copies, and that’s not a major investment.

100 investment ideas in 2022 you should not miss. Start with Less than 0Shutterstock

Programming

Learning how to program or code, such as with the object-oriented dynamic programming language known as Ruby, is one of the most lucrative business out there. Here’s a guide to starting a developer business to help get you started.

100 investment ideas in 2022 you should not miss. Start with Less than 0Shutterstock

Virtual assistant

This job is similar to being a personal assistant — answering phone calls, responding to emails and keeping your client’s schedule. The difference? You do this remotely.

100 investment ideas in 2022 you should not miss. Start with Less than 0Shutterstock

Social-media consultant

Businesses and individuals are always on the lookout for people to manage and maintain their social channels for them, and many businesses will pay $500 or more a month for these services.

100 investment ideas in 2022 you should not miss. Start with Less than 0

Project management

Believe it or not, not all businesses have in-house project managers, which means that projects can quickly get off-track. Companies are often willing to hire outside project managers to keep their teams focused.

100 investment ideas in 2022 you should not miss. Start with Less than 0Storyblocks

Secretarial services

There are a lot of small businesses and individuals who need services like typing, transcribing and proofreading. As long as you’ve got a computer, a printer and the necessary skills, your business should be good to go.

100 investment ideas in 2022 you should not miss. Start with Less than 0Shutterstock

Catering

If you’re an outstanding cook but don’t want to invest in a restaurant, then you can start your own catering business directly from your own kitchen.

100 investment ideas in 2022 you should not miss. Start with Less than 0Shutterstock

Mobile repair

Want to put your own spin on a repair service? Start one that involves you going to the client. Whether if it’s fixing a mobile phone, a computer or a piece of furniture, this idea doesn’t require more than a vehicle, marketing and your own expertise.

100 investment ideas in 2022 you should not miss. Start with Less than 0Storyboards

Resume-writing service

A lot of people have difficulty writing amazing resumes, and that may cause them to lose out on a job they’ve been eyeing. If you have knack for composing resumes, it can become a profitable business. (I personally have paid $100 several times for people to get my resume in shape.)

100 investment ideas in 2022 you should not miss. Start with Less than 0Storyboards

Holiday decorator

Everyone wants their home or office to look festive for an upcoming holiday, but not everyone can make that happen. If you can pull off that holiday cheer, then this is another business that doesn’t require much capital.

Related: Spreading Holiday Cheer as a Christmas Decor Franchisee

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Domain name-buying

You can buy a domain on the cheap — sometimes for less than $1. If a business comes along and needs that domain, sometimes they’ll be willing to pay top-dollar for it.

100 investment ideas in 2022 you should not miss. Start with Less than 0Shutterstock

Flipping websites

Using a site like Flippa, you can purchase a website, build it up and sell it. You can turn this into a lucrative business. (I personally have been able to make around $25,000 to $30,000 flipping websites each year.)

100 investment ideas in 2022 you should not miss. Start with Less than 0Shutterstock

Cleaning dryer ducts

Dryers get jammed with lint, and if too much builds up, you could have a house fire on your hands. Since this is an area that’s often overlooked, you can start a dryer duct-cleaning business with just a vacuum and some basic marketing.

100 investment ideas in 2022 you should not miss. Start with Less than 0Shutterstock

Tour guide

If you know your area like the back of your hand, then you can start charging tourists for a personalized tour of your hometown.

100 investment ideas in 2022 you should not miss. Start with Less than 0Shutterstock

Affiliate marketing

If you have a blog with a significant amount of followers, then you can become an affiliate. Essentially, this means that whenever you recommend ther people’s products or services, you can use your own special affiliate link that you’ve requested from the company (or a marketplace like Amazon). Whenever a visitor clicks on that link and makes a purchase, you’ll receive a commission.

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Dropshipping

Dropshipping is selling products for companies on sites like eBay. Whenever the product is sold, the company handles everything else, such as shipping.

100 investment ideas in 2022 you should not miss. Start with Less than 0Storyblocks

Snow removal

If you have snow shovels and maybe even a plow, then this business idea can make you serious cash. However, it’s completely dependent on the weather. (When I lived in Utah, I paid a neighbor $25 every time it snowed to shovel my driveway and walkway, and it only took him half an hour.)

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Pet grooming

If you enjoy being around pets and can bathe them, cut their nails and give them a decent haircut, then this can be a serious money-maker without much of an investment.

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Pooper scooper

It’s definitely not the most glamorous job, but you’d be doing something that most people dread so much that they’d pay someone else to do it for them.

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Event or party planner

If you’re organized and a planner, then taking care of the arrangements for birthdays, retirements or weddings can be a profitable business.

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Computer repair and maintenance provider

Think of all the computers out there that crash or need updates. Do you think that each owner has the technical knowledge to handle any troubleshooting problems? Consider starting your own service.

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Life coach or mentor

Many people hire coaches or mentors to help them with things like losing weight or finding happiness. (I’ve found that most life coaches charge $50 to $250 an hour.)

Related: The 10 Best Cities For Starting a Life-Coaching Practice

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Bookkeeper

It’s important for both businesses and individuals to keep their files neat and tidy, but not all of them have the time to do so. That’s when they hire someone to keep their books in order for them. (I pay my bookkeeper $30 an hour, and I found her on a local website with a classified listing that she paid $50 per month for.)

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Tax preparation

Preparing taxes is another necessity, but most of us don’t have the time or knowledge to take care of this task. If you’re up-to-date on the latest tax regulations and enjoy crunching numbers, this can be a lucrative business during tax season.

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Book-writing

Did you know that both Amazon and Apple have book-publishing arms? Whether you write an instructional book, cookbook or sci-fi adventure, you can now publish it at almost no cost.

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Flooring business

Installing your own flooring may sound easy, but it can get tricky. That’s when you can save the day by installing floors for others. Best of all, you don’t need to worry about inventory — you’d only be focused on installation.

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Painting addresses on curbs

Many office and residential customers would gladly pay you to spray-paint their address on the curb. You’d just need some spray paint and an address kit to get started.

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Parking lot striping

There are plenty of parking lots that need new stripes. You can start off with a straightedge tool and spray paint. As you earn more money, you can purchase professional equipment.

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Business planning

If you’ve already created a successful business, then you can actually turn that knowledge and experience into a new business. New business owners will pay for someone to help guide them in developing their own successful business plan.

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Homemade natural soaps and beauty products

Selling natural products is a thriving business. Even if you don’t feel comfortable making your own natural soaps and beauty products, you can dropship for companies that do.

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Logo design

If you’re a creative individual, then designing logos is a relatively easy business to start. You can do anything from designing unique logos to customizing ideas from templates. Here’s a guide to starting a design business that should help you every step of the way.

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Translator

Businesses are desperately in need of individuals who can speak the language of whatever market they’re entering.

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Restore/upcycle furniture

If you’re handy and spot a used piece of furniture that needs some TLC, you could make the repairs and resell. That’s pretty much all profit.

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eBay seller

People have been making a living for years off of eBay by selling their old junk, reselling items and dropshipping.

Related: Why It’s Nearly Impossible To Stop This Amazon and eBay Scheme

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App developer

With the mobile revolution in full swing, the demand for apps has never been higher. Even if you don’t have programming skills, you can still hire someone to make your app a reality.

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Personal chef

Unlike catering, which may only keep you busy a couple of days per week, personal chefs are responsible for cooking breakfast, lunch and/or dinner for clients. However, you can spend most of your time preparing meals that just need to be reheated. That allows you to take on more clients.

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Personal trainer

Even though health is a priority for most of us, it can be challenge to not only stay on track but also make sure that you exercise correctly without injuring yourself. By becoming a personal trainer, you can motivate and monitor people while they exercise.

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Beautify products

If you don’t have the tools or skills to build something from scratch, you can always modify or beautify an existing product. Take mosquito nets, for example — they’re bland, but you could decorate them with ribbon or beads to create a unique product.

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Photographer

There’s always a demand for photographers at special events like weddings. Here’s a guide to starting a photography business to get you started.

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Framing

After procuring tools like a sander, a matte-cutter, a glass-cutter, tape, clamps, saws, miter boxes, picture-hangers, a stapler and glue, all you need for this business is marketing.

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Flea market-vending

Flea markets are still thriving, and you can usually rent out a spot for the day for just $20. You can sell anything from the junk laying around your house to the produce you grew in your backyard to handmade crafts. In many areas, there are multiple flea markets taking place throughout any given week, so this can easily become a frequent gig.

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Online content producer

Businesses need lots of content today. If they don’t have an in-house team to create and produce content, they often hire talented outside individuals to do it for them. (There are businesses that pay $50 per blog post, such as mine — here’s my own content marketing guide to help you in your journey.)

Related: 4 Things Editors Are Looking When They Read Your Pitch

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Website developer

Everyone should have a website these days, and for the people who don’t have the time or knowledge, you can develop their website for them.

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Selling plants online

If you have a green thumb and the space, then you can sell plants online. It’s actually a growing niche since people are becoming more concerned about where their plants originated from, and you can probably charge less the big box stores.

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Calligrapher

If you’ve got above-average penmanship, then you can charge people to create handwritten invitations.

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Selling crafts

If you can make handmade crafts, like jewelry and furniture, then you can sell those products on sites like Etsy.

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Home daycare

You’ll definitely need to get the proper licenses and permits, but this is a business that you can start at home. In some areas, daycare costs around $15 an hour, so this can be a very lucrative business.

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Cleaning out foreclosed homes

Whenever a bank forecloses on a home, they have to hire someone to clean the place out. If you don’t mind getting a little dirty, you don’t need much to start this kind of business.

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Recycling scrap metal

Some people drive around and take junk, such as broken dryers, off of people’s hands full-time. Why? Because they can scrap that metal. Just keep in mind that the more valuable metals are aluminum and copper.

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Internet security consultant

Security is a major concern for businesses and individuals. Besides expertise and some marketing, it doesn’t cost much to start a business protecting others’ hardware and software.

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Freelance bartender

If you can make a mean Manhattan, Cosmopolitan and other oft-ordered drinks, try marketing yourself as a freelance bartender for private parties and events.

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Training dogs

Consider yourself to be the next Cesar Millan? This is another low-cost business idea with the potential for high profits.

100 investment ideas in 2022 you should not miss. Start with Less than 0Storyblocks

Referral service

Whether a new business or family just moved into town, you can can refer them to the right vendors, babysitters or restaurants. Your only cost would be networking and marketing yourself to the community.

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Packing service

No one likes the hassle of packing up for a move. That’s why they’ll hire other people to pack and load their belongings up. You really don’t need to purchase anything without reimbursement, since boxes and tape will be included in your final price. You’ll probably still be a cheaper option than professional movers.

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Writing and/or recording a song

If you have the musical chops, you can make a career out of writing your own music. And it doesn’t have to be the latest Taylor Swift single — you could write jingles for podcasts or local businesses.

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Concert and show promotion

If you have some experience in marketing and are passionate about spreading the word about upcoming events, then you can start working with artists, venues and labels to generate buzz with essentially no investment on your part.

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Tester or reviewer

Companies are often looking for individuals to test and review their products. You can also start your own blog where you review products in a certain niche.

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Fashion design

Sites like Etsy now make it accessible for you to sell your unique fashion designs. Even if you’re not into high fashion, you can start creating your own T-shirts and produce through sites like CafePress.

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Importing products

You can purchase products from overseas in bulk and start selling them at a markup. That’s how Pura Vida started.

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Makeup artist

Whether if it’s for a special occasion like a wedding or for Halloween, people often pay a significant amount for someone to do their makeup.

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Hairstylist

If you’re up-to-date on the current styles and can cut hair, then you can start your own salon from your home.

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Selling snacks and drinks

Have you ever left a sporting event or concert thirsty and starving? We’ve all been there. That’s why you see people selling bottles of water and hot dogs after an event. Unlike investing in a food truck or cart, you can start off with just a cooler.

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Voice-over artist

Now that businesses are creating their own content, such as videos and podcasts, they’re looking for golden voices. If that’s something that you possess, then you could turn it into a lucrative career.

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Brewer

You can buy a beer kit for less than $100 and start tinkering around with brewing your own beer. (I have a family friend who did this with friends and now has his own microbrewery.)

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Winemaking

You don’t need a vineyard to start making wine. You can start by growing some of your own grapes or purchasing juice. If your small batch of wine turns out well and you start making some cash, you could eventually start your own vineyard or winery.

Related: How Craft Brewing Inspired This Denver Winemaker

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Selling eggs

Farm-fresh eggs are a big business right now. You can get in on the action by purchasing a couple of hens and building your own chicken coop.

100 investment ideas in 2022 you should not miss. Start with Less than 0Storyblocks

Baking bread

The size of the market for home-baked bread might surprise you. (I know woman who makes her own bread by working just a couple of days a week, and people line up to purchase it.)

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Creating customized care packages

Many people enjoy customized care packages that they can give out as gifts. To begin, you need to find a niche, like holiday packages, and start filling baskets with goodies.

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Instructor

You can sell lessons teaching people to play an instrument, cook a meal or even work out. You essentially just need your own knowledge and marketing to get started.

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Airbnb host

If you have an extra room or home, consider renting it out on Airbnb instead of letting it sit there vacant. (I personally was able to make around $3,000 a month last year renting out a section of my home.)

Related: Learn From These 3 Ways Airbnb Won the Trust It Needed to Succeed

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Property management

Landlords can’t always check in on their properties or maintain them via cleaning and mowing. A property management company takes care of these tasks for busy landlords.

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Laundry/ironing service

Almost everyone has clothes that need to be cleaned or ironed, and oftentimes they don’t have the patience or time to handle these chores on our own. That’s why many people pay others to do it for them.

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Clothing alteration service

If you know how to sew or replace buttons or zippers, then you’ve got a new business idea for people who can’t part with their favorite pieces of clothing. It’s also inexpensive to launch this type of business.

100 investment ideas in 2022 you should not miss. Start with Less than 0Storyblocks

Online dating consultant

More and more people are turning to online dating to find a match, but it can be overwhelming when just starting out. If you have experience in the area, then some people are willing to pay for advice.

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Sourcing service

You can find products or services for local businesses and resell them at a markup.

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Travel agency

Even though there are hundreds of travel websites out there, most people don’t have the time or patience to compare the prices on flights and hotel rates. That’s why there’s still a need for people to do the legwork for them.

100 investment ideas in 2022 you should not miss. Start with Less than 0Storyblocks

Toy-making

Whether it’s carving a doll out of wood or making use of a 3D printer, making toys can be a lucrative business idea.

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Food-delivery service

Some people feel they can’t leave the office to pick up food, and others would rather not leave their homes. That’s when they’ll contact you to pick up and deliver food to their doors.

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BUSINESS

France’s Axa doubles 2021 profit, raises financial goals

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Axa reported a profit on Thursday that more than doubled from last year, with the French insurer recovering from pandemic-related claims during the peak of the COVID-19 crisis.

The company, Europe’s second-biggest insurer after Allianz (ALVG.DE), said it expected underlying earnings per share to grow at the high end of its 3% to 7% target range by 2023, and cumulative cash to exceed its 14-billion-euros target during 2021 to 2023.

Axa’s net income jumped to 7.29 billion euros in 2021 from 3.16 billion euros a year earlier, beating analysts’ estimates of 6.72 billion euros, according to Refinitiv IBES data.

Full-year revenue rose 3% to 99.93 billion euros, slightly below estimates of 99.98 billion euros.

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AFRICA

Erdogan seeks to boost ties with Africa in four-day visit

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Turkey’s president has promised to boost relations with African countries as he visited the Senegalese capital Dakar during a four-day tour of Central and West Africa.

“We will continue to enhance our relations with African countries on the basis of sincerity and solidarity,” Recep Tayyip Erdogan said on Tuesday during a joint press conference with his Senegalese counterpart Macky Sall.

“We exchanged ideas on how we can further advance our relations in every area,” he said. “We once again gladly observed that we share the same determination to deepen our cooperation.”

In 2021, the volume of bilateral trade between Turkey and Senegal reached $540m. Erdogan has said the goal is to bring the figure to $1bn.

The Turkish Cooperation and Coordination Agency (TIKA), which “has since 2007 completed 186 projects in Senegal with a total value of $12m, is determined to maintain its activities,” he said.

Sall praised Turkish companies that have initiated various investment projects in the country and said investments between the two countries should increase even more.

The Turkish president is set to attend Wednesday’s opening ceremony of the Dakar Olympic Stadium, which was constructed by a Turkish company.

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Erdogan, who set out on Sunday for the tour, will also visit the Democratic Republic of the Congo and Guinea-Bissau.

In Dakar, the Turkish president noted that the 3rd Turkey-Africa Partnership Summit, held in Istanbul in December, set out a roadmap in Turkish relations with Africa for 2022 to 2026.

Leaders from more than a dozen African countries attended the summit, highlighting Turkey’s expanding influence on the continent.

Since its 2019 intervention in the Libyan civil war, Istanbul has steadily expanded its African footprint as it seeks to replace Western influence on the continent.

The European Union has sought to counter both Turkish and Chinese influence, positioning itself as “Africa’s partner of choice” during a summit with the African Union earlier this month.

“The European Union is the first trading partner and the first investor in Africa,” Ursula von der Leyen, president of the European Commission, said after the two-day summit, which drew to a close on February 18. “Indeed, we need a stronger partnership between us.”

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AFRICA

Tanzania: President Samia says Russia/Ukraine tension an opportunity for gas sales

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Speaking to The Africa Report in an exclusive interview, the President of Tanzania underlines efforts the country is making to secure new energy markets – and says that tensions provoked by Russian aggression in Ukraine is helping to generate European interest in Tanzania’s gas.

“We are looking for markets wherever”, President Samia Suluhu Hassan says. “Whether Africa or Europe or America, we are looking for markets. And fortunately we are working with companies from Europe. Total Energies for example is working in Tanzania.”

Tanzania’s gas reserves are estimated to be Africa’s sixth largest.

“We have three major points: Kilwa, Songo Songo and Mnazi in the south of Tanzania, and we have a deposit of about 57 trillion cubic feet”, says President Samia. “We believe we have other deposits in some other areas of the country. ”

The annexation of two Ukraine provinces by Russia on 21 February has sharpened the question of European energy supplies. Currently Russian gas makes up around 35% of Europe’s gas imports.

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