Expectations for the African eCommerce Market Size

eCommerce - cfamedia

Reports from Statista, in 2017 shows that the size of the eCommerce market, on the African continent, reached over $15 billion, however, high expectations, on the market, as projections show, will get to, more than $20 billion, two years into this new decade.

According to another report, from Boston Consulting Group, by 2025, Africa will get, up to 3 million jobs, via the electronic network market.

China, with its capacity, as a leading nation in Internet consumption, has, repeatedly, made provisions for valuable lessons, for the development of the e-commerce space, in Africa.

Ranging from business to technology has helped Africa, to set its path, for development.

Who dominates the African e-commerce space?

Only a few online platforms have helped develop Africa, in eCommerce.

Jumia, founded in Nigeria, in 2012, has more than 80,000 suppliers, up to 4 million consumers and has its coverage is, in more than 10 countries, on the continent.

In South Africa, Takealot, an eCommerce platform, founded in 2011, has turned into a household name, for the country’s 1 million active users.

Online shopping is no stranger, to the African continent and a good number of countries, within, have opted for shopping, on eCommerce mediums.

The eCommerce industry, on the continent, is welcoming, large development chances.

Also, read The Future of eCommerce In Africa And The Challenges Ahead.

A report by McKinsey has indicated that by 2025, online shopping will account for total retail sales, as more Africans, have uninterrupted access, to the internet.

In the next decade, however, online retail sales, on the continent, will increase, at a rate of 40%, each year.

Statista has shown that, more than 45% of entrepreneurship teams, on the e-commerce space on the continent, are based in West Africa.

The Southern part of Africa has 27.3% of the team, while East Africa, took 18.2%.

Nigeria, South Africa and Kenya, carry the concentration of the entrepreneurship team, in e-commerce on the continent.

Featured Image: appsafrica

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