GIG Logistics is the African eCommerce giant you don’t hear about enough

In spite of the many negatives surrounding the eCommerce industry in Africa, investors, analysts and other foreign interests alike have stayed relatively optimistic. Just a few weeks ago in November, Kenyan-based Copia Global announced raising a $26m Series B to expand its hybrid eCommerce model across East Africa.

According to the Mastercard Foundation’s Digital Commerce and Youth Employment in Africa report released in February, while it has been slow to take off, African eCommerce will be generating over $500 billion annually by 2030. The report also predicts that by then, about 10% of the continent’s largely informal workforce will be using digital platforms.

If the recent activities of Chinese-backed digital payment platforms, OPay and PalmPay, in Nigeria — Africa’s most populous country — are anything to go by, the latter prediction might be on track to fulfillment. Especially considering OPay’s reportedly humongous daily transaction volumes and seemingly unlimited financial backing.

But with the increasing investments in eCommerce, and…

Read All From Tech Point

%d bloggers like this: