Online shopping in Nigeria, other African countries may hit $75b by 2025 – Report
Online shopping in Nigeria and other African countries could account for up to $75 billion in retail sales by 2025, a report by the McKinsey Global Institute has projected.
The report said e-commerce and Financial Technology (FinTech) represent two of Africa’s biggest growth opportunities, with the growth of the mobile technology market driving the two sectors.
“More than half of urban African consumers already have Internet-capable devices and this number is increasing. Online shopping in Africa could account for up to $75 billion in retail sales by 2025,” the report said.
Encouraged by the continent’s e-commerce boom, multinational logistics company DHL Express said it has once again signed on as lead sponsor for the 2019 DHL e-Commerce Africa Conference and Exhibition, which will be held at the Cape Town International Convention Centre fromMarch 19 to 20.
The e-Commerce Africa Conference and Exhibition, delivered by DHL, is hosted by South African conferencing company, Kinetic, and is one of Africa’s biggest opportunities to bring stakeholders in the e-commerce sector together.
Later in the year, Kinetic will also bring the conference to Kenya, with the e-Commerce East Africa edition, also delivered by DHL, set to take place in Nairobi from June 12- 13, 2019.
This year’s event offers participants an opportunity to learn from world-class thought leaders, both from Africa and the rest of the globe, on the innovative strategies that will unlock e-commerce opportunities over the years to come.
Delegates from some of the continent’s biggest tech, retail, banking and legal firms will be in attendance to share their experience and engage with attendees to exchange knowledge.
Vice President Sales for DHL Express Sub-Saharan Africa, Steve Burd, explained that the ongoing partnership between DHL and e-Commerce Africa was a good fit. “As the market leaders in express logistics in Africa, we have extensive first-hand experience of the positive impact that e-commerce has on the continent,” he said.
The massive growth in cross-border and international e-commerce in Africa, Burd said, has seen DHL working with more customers across the continent each year, helping them to expand their brand across borders.
He added that e-commerce development in Africa has continued to unlock major opportunities for growth. “E-commerce allows entrepreneurs and Small and Medium Enterprises (SMEs) to connect with a large customer base and scale up rapidly,” he said.
Pointing out that this had accelerated the need for support services, Burd said e-commerce growth therefore, has a ripple-effect on many other industries on the continent, adding that “DHL’s partnership with e-Commerce Africa provides us with an additional platform to connect with organisations and help them to understand key logistics considerations.”
Kinetic Managing Director Terry Southam said the collection of thought leaders and the topics under discussion this year are aimed at creating an immediate impact for African e-commerce companies.
“It is quite remarkable to have all of these industry leaders on the same stage–not only willing to share, but actively working to grow the industry and ensure African customers receive a world-class online shopping experience.”
Southam said this year’s conference theme is ‘Conquering scale’, adding that his company could not be happier to have a market leader like DHL on board to help deliver two key e-commerce events on the continent this year.