Digital payment to increase cross-border African trade
August 1th, 2021 – Pan-African payments company Cellulant has partnered with Link Commerce, a turn-key B2B eCommerce platform, to avail relevant digital payment options to consumers in Africa; making it possible to purchase goods directly from global retailers online.
The number of online shoppers in Africa has surged annually by 18% since 2014, according to a report by UNCTAD.
As of 2019, the number of digital buyers in Africa experienced an increase to 233 million. The number of e-commerce users in the continent was projected to grow significantly in the next few years, according to a Statista forecast.
In 2021, there might be some 334 million online shoppers in Africa. By 2024, there could be roughly 478 million, about double the number in 2019.
The most significant contributor to this surge in e-commerce is the rapid growth in smartphone penetration over the past decade in Africa and the shift in consumer-spend behavior. They are turning more and more to online shopping for their goods.
The payments infrastructure has also evolved to offer payments solutions that enable more consumers across Africa to participate in online shopping without a bank account.
More…http://www.nanews.net/news/digital-payment-to-increase-cross-border-african-trade/
Written by Nordic Africa News
Photo: Communication Time
Related Post
Celebrating Women Entrepreneurs: Key Insights from...
According to the GEM 2024/2025 Global Report entitled Entrepreneurship Reality Check, far too many women entrepreneurs are still seen by nat...
SME Digitalisation to manage shocks and...
Although uptake of digital practices by SMEs continues to increase, so too has the “digital gap” with larger firms. Understanding the dr...
Fostering convergence in SME sustainability reporting
Small and medium-sized enterprises (SMEs) play a pivotal role in driving sustainable economic growth. Representing over 90% of businesses gl...
