Africa is on the rise. From entertainment to agriculture, Africa is boldly expressing its identity and productivity in a brave new world. But the real boom, indeed the next revolution on the continent, is without a doubt, e-commerce.

Africa’s e-commerce quotient is daily being fuelled by a number of factors.

There is a changing lifestyle among Africans that is witnessing a growing middle class. This growth has thrown up young men and women who can spend between $4 and $20 a day.
According to data from the African Development Bank (AfDB), this group is expected to grow to about 40 per cent by 2060, which translates to over one billion people. This will spell a boom for e-commerce going forward.

The growth in Africa’s mobile market coupled with the growing deployment of broadband infrastructure and increase assimilation of emerging advances in technologies including artificial intelligence, robotics, blockchain, Augmented Reality (AR) among others are sure indices that e-commerce will boom across the continent sooner than later.

As far back as 2012, consumption spending in Africa stood at over $1 trillion from $364 billion in 2000. That’s an impressive jump. And if the Internet penetration factor, which is in on the rise with a good 50 per cent of the continent expected to have access to the Internet by 2025, one can imagine the impact of this on online shopping.
McKinsey report predicted that online shopping could account for 10 per cent of aggregate retail sales. This works out to $75 billion a year of total retail spend. This figure is expected to shoot up in the coming years.

This is why the focus is shifting to Africa. E-commerce pundits are looking to Africa to deliver the next revolution in wealth creation through a burst of e-commerce activities. And Nigeria is tipped to lead the African e-commerce chart. Indeed, e-commerce is an area that Nigerians have only recently started exploring. As such, people are also gradually learning about the technicalities involved.

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