from DION HENRICK in Cape Town, South Africa
CAPE TOWN – SOUTH Africa, Nigeria and Kenya are the top drivers of e-Commerce volumes in Sub-Saharan Africa (SSA) over the last three years.
Ghana is also showing growth.
This is according to a report by Visa, which indicates that while SSA may be one of the smallest regions of ecommerce globally, it shows steady growth potential.
During lockdown the region saw new eCommerce users rise by 5 percent when compared to the active base in SSA the previous year.
“The three leading markets in SSA are starting to mature, providing the region with an established foundation,” explained Lineshree Moodley, Head of Visa Consulting and Analytics (VCA) in Sub-Saharan Africa.
“When twinned with the growing penetration of eCommerce, it offers players in the payment space an opportunity they can capitalise on while helping to further accelerate the expansion of eCommerce in the region.”
Visa’s white paper, entitled eCommerce developments across Sub Saharan Africa, confirmed that, as the world becomes increasingly digital, eCommerce has been driving the acceleration of digital commerce.
It has experienced phenomenal growth rates around the world, and even recent setbacks as a result of the continuing COVID-19 pandemic haven’t stopped its rise.
According to recent GroupM estimates, eCommerce sales are projected to grow to $7 trillion across the globe by 2024.
– CAJ News