06 Sep The Three eCommerce Hubs Of Africa Not Affected By Anything - Growth In eCommerce Continues Unabated

Africa’s GDP growth seems to have slowed to 2%+ but this needs to be looked at in context of the heavyweight economies like South Africa and Nigeria which have gone through a period of shrinkage.  Having said all of that, we are mainly interested in the growth of the digital economies in Nigeria, Kenya and South Africa - the eCommerce and digital hubs of Sub-Saharan Africa.

These three digital economies are powering ahead and experiencing unprecendented eCommerce growth in the region of 30%+ per annum.  If I compare my recent visits and meetings with the payments and eCommerce industry in each territory as compared to 4 years ago there is a complete change of mind and economic impetus.  Whereas 4 years ago it was hard to stir up enthusiasm for eCommerce, my latest visits exude passion, enthusiasm and welcoming of developments and possibilities around digital consumerism and participation in the growth and catalysation of the digital economy, eCommerce and eCommerce payments.  

Nigeria's oil crisis and South Africa’s uncertain political environment have had no retarding effect on the growth of eCommerce and/or eCommerce investment into these territories.  The digital economy seems to have a life of its own.   Kenya is a friendly and stable digital and eCommerce economy despite its political developments.  There are other notable regions that are experiencing high levels of economic, eCommerce and digital acceleration albeit some of them off a low base including Côte d’Ivoire, Senegal, Uganda, Ethiopia and Tanzania.  

Nigerian investors are taking a peek back into the 180m consumer market which is back to 2014 levels of interest.  There is significant opportunity for the retail sector to capitalise on this hungry middle class and increasingly connected consumer led Nigerian market.  

The eCommerce sector is said to be worth over $13bn and growing at 30%+ per annum.  Entrepreneurial Nigerians are finding all sorts of leapfrogging solutions to logistics and delivery of eCommerce products and services.  Through African Payment Solutions the eCommerce and online payment last mile is taken care of.

If you are a multinational eCommerce company looking to expand to Africa for your eCommerce payments then contact African Payment Solutions now


Our thanks for inspiration to http://www.africanbusinesscentral.com/2017/08/21/the-african-economy-better-than-people-think/