05 Mar African Payments: Jumia, the biggest eCommerce Company and Online Marketplace Explaining the African eCommerce Landscape
A great article and interview by PayPers with Sami Louali, EVP Financial Services at Jumia Group, on the African eCommerce market and its opportunities and challenges Here are some highlights with an online payments perspective for our multinational eCommerce companies entering the African eCommerce market and looking for a payment gateway and key payment methods. Jumia, founded in 2012 is the leading eCommerce platform and marketplace in Africa, providing services like food delivery, and enabling small businesses to sell, deliver and get paid for products and services on their platform. The African eCommerce infrastructure is relatively underdeveloped from a logistics and payments perspective and Jumia have worked hard on creating a frictionless eCommerce ecosystem in a traditionally small scale offline retail environment. They have customised their approach where possible to each country in which they operate. eCommerce in Africa is around 1% as compared to USA of 13% and China at 20% so there is a lot of room for growth. Louali thinks “we are reaching that point in Africa, with many of the markets really starting to be ready for eCommerce.” Africa has 1bn people, half of whom are internet users. Louali says we are just starting with eCommerce in Africa and there is a huge upside. As the eCommerce drivers like connectedness, data costs, smartphone penetration, ability to get paid, increasing digital commerce adoption by a mainly youthful population, and logistics all improve, the eCommerce industry will experience more rapid growth than developed markets. Louali also mentions the significant increase in venture capital investment into Africa being a catalyst. Africa has a fragmented payments infrastructure with more than a hundred mobile monies and card penetration high in a few jurisdictions, so click here for us to provide you with an easy connection and soft landing to doing business across Africa. Thank you inspiration and content to Sam Louali, Jumia and https://thepaypers.com/interviews/the-particularities-of-the-african-ecommerce-ecosystem--1240977 Our services include:
