With the world’s highest mobile money usage rates and consumer spending expected to reach US$1 trillion by 2020, the African continent could be an important part of your global e-commerce strategy.
Today, Africa’s population is estimated at 1.2 billion people (15% of the world’s total). By 2050, the population of 26 out of 54 countries in Africa will at least double their size. Combine this population growth with the burgeoning middle class and you have a compelling case for digital merchant expansion. Currently, 35% of the continent’s 1.2 billion people are connected to the Internet, compared to the global average of 54%. While ecommerce has been slow to develop across the continent, all signs indicate that the African market is ripe for a digital retail boom.