Recent reports have shown that Africa’s e-commerce market will reach a $50 billion mark by 2018 ; considering all that has transpired in the resulting years from 2013, it is more than safe to say that this is a whooping increment from just $8 billion in 2013.
Countries like Nigeria, South Africa and Kenya are reknown as the largest e-commerce hub in Africa, with majority of internet users shopping online. This has pushed companies to improve their e-commerce platforms and approach to make the most of this trend.
From a continent that was once considered to be in the shadows of technology to one of the leading partakers in e-commerce, here are some factors that have propelled Africa to embrace e-commerce :-
An Increase in Internet penetration and usage of mobile phones
Africa has taken on the mobile tech revolution so enthusiastically, so much that handsets and mobile phone internet arrangements are more affordable across the region.
More Africans have purchased smartphones having realised the ease with which day to day activities can be accomplished. Mobile phone penetration in Africa is now over 80% which means that more people have decided to use phones as compared to previous times where owning a phone was more of a luxury than a necessity.
Increased use of the Internet even in the more rural areas in various countries has boosted how e-commerce works. The Internet has become an increasingly used tool, online shopping is becoming a popular thing as people no longer need to move distances to buy things but rather click some buttons and have it delivered to them.
Mobile Payment Solutions
Mobile payment solutions have contributed immensely to the e-commerce rise in Africa. Initially, people had to pay using card systems that majority weren’t comfortable with. But times have changed, e-commerce platforms have now integrated mobile payment alternatives among the various ways one can pay.
It is common knowledge that Africa’s majority have chosen to use mobile money as they way of paying out – businesses that have embraced this have reaped considerable benefits since they have put in place a way of payment that majority of the people know.
How e-commerce platforms are incorporating with Africa’s many mobile wallets
Africa has a tone of mobile payment providers, therefore there was need for e-commerce platforms to have a unified platform to handle money moving through the various mobile payment alternatives.
DusuPay has proven to be Africa’s go to payment option when it comes to how e-commerce platforms receive money from mobile wallets i.e DusuPay avails the money paid to the online platform on their normally accustomed to payment platform ensuring that e-commerce on the continent is done through one seamless avenue for all mobile wallets therefore accelerating the growth of e-commerce on the continent due to this convenience.