African e-Commerce Market Size Expected to Reach $22 Billion by 2022

african e-commerce market

According to the latest research from Statista, the size of the African e-commerce market in 2017 has reached $16 billion. Moreover, it is expected to reach $22 billion by 2022. A report from the Boston Consulting Group says that by 2025, the electronic network market will create about 3 million new jobs in Africa. As a leader in the field of Internet consumption, China has continuously provided useful lessons for the development of African e-commerce from multiple levels, including technology and business. Also, it helped the latter enter the fast lane of development.

Who Leads The African e-Commerce Market?

In this sense, there are a few online platforms that help Africa develop in e-commerce more rapidly. Takealot was established in 2011 and has developed into a leader in South African e-commerce platforms with over 1 million active users. Currently, there have been set up 47 express delivery points across the country to alleviate the problem of insufficient logistics capacity.

african e-commerce market

Gizchina News of the week

Jumia, an e-commerce platform founded in Nigeria in 2012, is called ‘African Amazon’. At the moment, it has more than 80,000 suppliers and more than 4 million consumers. It covers more than 10 African countries.

Also Read: Transsion Still Dominates The African Smartphone Market

Today, online shopping is no longer new in African countries. More and more Africans choose to shop on e-commerce platforms. Africa’s e-commerce industry is embracing huge development opportunities. According to a report by McKinsey, as more Africans access the Internet, online shopping will account for 10% of total retail sales by 2025. Moreover, online retail sales in Africa will grow at a rate of 40% per year in the next 10 years. By region, Statista data shows that 48.1% of e-commerce entrepreneurship teams in Africa are in West Africa. 27.3% team in Southern Africa and 18.2% in East Africa. They are mainly concentrated in the three countries of Nigeria, South Africa and Kenya. Among them, Nigeria has more than 100 Home appliance startups.

Previous Samsung has sold more Galaxy Fold than Sony smartphones in general
Next Kirin 1020 Chip Codenamed Baltimore,Coming With 5nm Process