06 Aug eCommerce and Payment Across Sub-Saharan Africa - Kenya, Nigeria, South Africa

eCommerce is growing rapidly across Sub-Saharan Africa spurred on by rising incomes, improved connectivity, smartphone penetration and higher literacy levels.  

Sharing eCommerce economy companies like Uber and AirBnb are already expanding rapidly across the continent. 

Logistics companies like DHL and UPS are making logistics and product delivery more effective and cost effective.  A fast growing area is Nigeria’s consumption of digitally deliverable goods and services like ticketing, software and entertainment which can be purchased and delivered online and don’t require delivery. 

Nigeria has a high adoption of mainstream payment methods like card and bank debit, and mobile money is being catalysed by the government to increase the level of financial inclusion.  Merchants can get paid in USD or the local currency NGN (Naira)

The dominant payment method in Kenya is M-Pesa.  South Africa is well covered with card, but careful of South Africa’s strict exchange controls requiring reporting of transactions for repatriation of monies to HQ’s of multinational eCommerce companies.

The “Amazon’s” of Africa Jumia and Konga in Nigeria, Kilimall in Kenya, and Takealot and Bid or Buy in South Africa, by increasing consumer eCommerce literacy and adoption have paved the way for other eCommerce market entrants.

eCommerce in Africa is a growth market for multinational eCommerce companies who are experiencing flat growth in their established mature economies

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