14 Jan SOUTH AFRICA - A Sizeable and Attractive Market for eCommerce Expansion - 1
This is the first in a series of focus on South African eCommerce and online payments readiness on the African continent. South Africa alongside Kenya and Nigeria is one of the three most active fintech hubs in Africa. The three countries have more advanced fintech ecosystems than the rest of the continent. Nigeria and South Africa have the largest GDPs in Africa representing almost half the GDP of the entire continent. The three largest sectors for tech startup investment are eCommerce, fintech and solar. South Africa and Nigeria are the biggest eCommerce countries in the continent with more than 50% of the their internet users shopping online. South Africa’s has an internet penetration of more than 60% and stats suggest that almost 65% of users own a smartphone. South Africa’s largest eCommerce company by far is Takealot who bought out Mr Delivery to provide effective countrywide door to door delivery. The main product categories are fashion, ticketing and books. South Africa is one of 7 countries in Africa that together are home to almost half the African population. It will also by 2030 become one the three largest consumer markets in Africa. Recent stats suggest that the South African eCommerce market is more than $4bn and growing at between 10 and 20% per annum depending on which stats provider you believe to be correct. More on South African eCommerce and Online Payments in this series of blogs for multinational eCommerce companies expanding to and across the African Continent. THANK YOU Our thanks for stats, insights and inspiration to . . "The Mobile Economy - GSMA Intelligence." https://www.gsmaintelligence.com/research/?file=809c442550e5487f3b1d025fdc70e23b&download. Accessed 14 Oct. 2019. "Africa Month: How Africa is Shifting Market Frontiers Globally." 25 May. 2018, https://blog.euromonitor.com/africa-month-shifting-market-frontiers/. Accessed 22 Aug. 2019. "Africa B2C E-Commerce Market 2019, yStats.com." 19 Jun. 2019, https://www.ystats.com/market-reports/africa-b2c-e-commerce-market-2019/. Accessed 14 Aug. 2019. "Africa's emerging economies to take the lead in consumer market growth." 3 Apr. 2019, https://www.brookings.edu/blog/africa-in-focus/2019/04/03/africas-emerging-economies-to-take-the-lead-in-consumer-market-growth/. Accessed 16 Aug. 2019. "Africa's consumer market potential - Brookings Institution." 12 Dec. 2018, https://www.brookings.edu/research/africas-consumer-market-potential/. Accessed 16 Aug. 2019. "Africa and the Middle East, the Next Battleground for E ...." 20 Jun. 2019, https://fintechnews.ae/4444/fintech/africa-and-the-middle-east-the-next-battleground-for-e-commerce-companies/. Accessed 26 Nov. 2019.
