The state of e-commerce in Africa is improving although still battling with old enemies
What prompted this article was this. Sometime last week I had a group of friends come over and they all attempted to buy something from an ecommerce website at different times and each one of them refused to pay online, they all opted for the pay on delivery option. Before now, they definitely wouldn’t have thought of the option of even buying from an online vendor. The only thing ecommerce websites were good for back in the day was to cross examine prices of a commodity you wanted to purchase – the improvement. However, they still battle with old enemies – trust. Many still don’t believe they can trust tech with their finances let alone some ecommerce website where you wouldn’t be able to get a hold of the vendor.
It would interest you to know that the number of online shoppers across the continent has grown 18% yearly since 2014—higher than the global average, Africa’s consumer e-commerce market, valued at $5.7 billion in 2017, is less than 0.5% of the continent’s GDP, far below the global average of 4% - quartz.com.
South Africa 77
Mauritius ranks highest in Africa’s ecommerce market followed by Africa’s most populous nation – Nigeria.
This shows that ecommerce in Africa a.k.a e-fro-commerce (in my own dictionary) is the way we’ll all go in Africa as brands continue to build trust and loyalty towards online means of purchase and financial institutions continue to deepen their foot print across the continent by banking both the unbanked and underbanked.
The future is here already, just TINK about it.