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E.g. the Breech Loaded Rifle tech has the Colonial Negotiations invention. That invention is actually impossible to get until Machine Guns is researched. For every country that already has Colonial Negotiations, you have a 10% chance to get it, even if you don't have Machine Guns.
In brief, you want Breech-Loaded Rifles and State & Government techs by 1870, then wait. If you make a ton of RP, researching Machine Guns and Nationalism & Imperialism will likely get you in the race sooner.
To colonize a region, it occupies 80 CP. If nobody else makes a move in the next year, you can simply take it. If someone else makes a move, you both have to regularly invest more and more CP until one passes out / can't spend anymore or it will turn into a crisis.
CP-Capactiy is gained with Ships and Naval Bases. So, you should build lots of ships (Frigates, Men o War are both fine. More modern ships ofc too).
One more thing : after you created a protectorate and thereby claimed the territory, you can also spend a few CP points in upgrading that region into a colonial state. The main difference between the two is, that you get more taxes out of colonial nations and, more importantly, are able to build troops using their soldiers population. Ofc if you want you can only do that after colonized everything you could grab, so you dont occupy those sweet CP points unnecessarily. You can also upgrade it later on into full state nations, which allows you to build factories and stuff but you need 1% bureacrauts of your primary culture in it - forcing it is not wise since it has very limited effect. Just wait.
(Colonial provinces have native population too - so you might wanna check around where the important areas are. I'd always try to go for Somali & further and West Africa (as long you dont interfere with the UK / French). For Somali you might need colonial range.
P.S. : To clarify things further with the tech requirements : http://www.victoria2wiki.com/Colonization#Life_Rating_and_Technology