25 Oct South Africa Is An Easy Place For Multinational eCommerce Companies To Expand To

South Africa in terms of African countries is a relatively easy market for multinational eCommerce companies to expand to.  The levels of smartphone penetration, digital literacy are relatively high, payment methods are mature, and consumers are ripe and ready for buying goods and services online.

There are a couple of speedbumps like registration of a local legal entity and reporting of transactions to the South Africa Reserve Bank in order for repatriation to be smooth. And goods can only be settled in rands.  No foreign currency trading is allowed.

From an online payment perspective you are pretty sorted with debit and credit card (middle to higher LSM) and we have a new service coming online for bank debits and managed cash payments (lower LSMs) which will mean that all internet connected consumers will be in a position to make online payments easily.  

South African consumers are used to mobile and internet shopping at eCommerce companies like Takealot, BidorBuy, Gumtree and Facebook Marketplace.  So a multinational eCommerce company entering the territory will have a soft landing and immediate traction.  

We have helped a number of eCommerce companies get settled in the territory with legal compliance, legal entities and Reserve Bank permissions so we can help you too.  Advertising channels and media are mature and relatively easy to use to promote your company and generate clients.  

So if you are looking to enter the South African eCommerce market we are well versed and can help you get up and running quickly.  

If you would like to piggyback on our African Payment Solutions Aggregator account to simplify things and get started, contact us now.