Africa Ecommerce Sector to Hit $46 billion by 2025 - Quartz
E-commerce revenue in Africa is projected to hit $46 billion by 2025. Driven by digitization, a rise of 44 million mostly small and medium-sized enterprises (SMEs) are revolutionizing how the region shops. And by adopting digital tools, these businesses will reap the benefits of multi-channel transactions, payments, financing, and more—but there are barriers. These are the state of things, according to Quartz.
💡The opportunity: Millions of African businesses stand to benefit and build more efficient operations by adopting digitalization across their businesses.
🤔The challenge: The cost of adopting e-commerce solutions remains high for many businesses. Transaction costs such as fees charged by e-commerce platforms also pose a challenge, as does the lack of relevant know-how and a preference for cash and traditional set-ups by many business owners.
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🌍The roadmap: Startups must build affordable, efficient e-commerce solutions that are tailor-made to suit the needs of African SMEs.
💰The stakeholders: Startups, suppliers, and digital payment services all have roles to play to accelerate the digitalization of African businesses.