Browsing: e-commerce

The country’s changing demographics and improved business environment are among factors contributing to increasing consumption. Continent-wide, this consumption is predicted to hit US$2.5 trillion by 2030.  

In less than 10 years, seven Sub-Saharan African countries including Kenya, Tanzania, Ethiopia, the Democratic Republic of Congo (DRC), Nigeria, Egypt and South Africa will be home to half of Africa’s population. Of this, an estimated 43 per cent of Africans across the continent will be in the middle or upper classes.

The country’s changing demographics and improved business environment are among factors contributing to increasing consumption. Continent-wide, this consumption is predicted to hit US$2.5 trillion by 2030.  

In less than 10 years, seven Sub-Saharan African countries including Kenya, Tanzania, Ethiopia, the Democratic Republic of Congo (DRC), Nigeria, Egypt and South Africa will be home to half of Africa’s population. Of this, an estimated 43 per cent of Africans across the continent will be …

African designers have to adapt and invest in technology to help grow the continent’s fashion entrepreneurship. 

With the Covid-19 pandemic, there has been a notable acceleration in consumer shifts and digital trends that were in motion prior to the crisis. 

To maintain the momentum and to grow the multibillion-dollar industry further, fashion entrepreneurs must take advantage of fashion-enabling tools at their disposal. E-commerce, artificial intelligence, augmented reality and digital printing are tools that will shape the future of the fashion industry in Africa, according to Vanessa Moungar, Director of the Gender, Women and Civil Society Department at the African Development Bank (AfDB).…

Africa’s share in the global US$3.4 trillion dollar e-commerce ecosystem is only 1.3 per cent with a big percentage of Africans having no access to the internet.…

There are signs that African venture capital funding is continuing its forward momentum.…

E-commerce can lower entry barriers and help connect MSMEs with global markets and value chains.…

Africa’s e-commerce giant, Jumia is taking bold steps to revitalize its profits after experiencing a hard turn in 2019, e-commerce giant co-founder, Jeremy Hodara revealed to Reuters.

According to Hodara, Jumia (which is listed at New Stock Exchange) current focus is on capitalizing its payments and infrastructure network and boost revenue from services for third-party sellers on its online marketplace.

The company managed to attain a $ 4 billion peak value, before plummeting in shares by almost 70 per cent since its initial public offering (IPO) in April 2019.

“We’re going to be extremely disciplined and very focused on our path to profitability,” Hodara told Reuters on Tuesday.

READ:More people in East Africa are embracing Ecommerce

In November 2019, Jumia pulled out in Cameroon and Tanzania, as well as holding its food delivery in Rwanda, thus—still Jumia’s chief has not revealed if the company plans to shrink its market …

Africa’s largest e-commerce platform—Jumia has closed its operations in Tanzania.

According to Reuters, the company gave out the news of its exodus which noted: “We have to focus our resources on our other markets. It is more important now than ever to put our focus and resources where they can bring the best value and help us thrive,” the statement reads.

The company which as of today has its operations in twelve countries out of 54 in Africa, has been experiencing a rather stiff challenge which includes significant losses for the past two years.

According to Jumia’s financial report, the company’s operating loss increased from $ 46 million in the second quarter of 2018 to $ 73 million in the second quarter of 2019.

The company shut down in Tanzania comes after 10 days whereby the Cameroon market lost Jumia as well.

Jumia came in Tanzania five years ago …

Allied Wallet Africa, a global FinTech company offering various payment solutions in 196 countries, recently announced a new office in Angola, to support the growing opportunities for African entrepreneurs and business owners.

Millions of people are eager to engage in online commerce but lack proper support and functionality. South Africa has the largest e-commerce market in the continent with Nigeria and Kenya following closely, and people of the region are eager to trade and transact in the new digital space.

“Africa deserves the opportunity to participate in e-commerce, they deserve advancement,” said Allied Wallet Africa CEO Andy Khawaja, “We are happy to be chosen for this opportunity. We are dedicated to helping these entrepreneurs and creating new opportunities in the region.”

Allied Wallet Africa will bring new, ‘open API’ online payment solutions along with mobile payment options, digital wallet solutions, and even solutions catered to utility and payroll functions. …