Preparing Nigeria for Africa’s $75b eCommerce revolution | The Guardian Nigeria News - Nigeria and World News

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

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 among others are sure indices that e-commerce will boom across the continent sooner than later.

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.

The Zinox Group later acquired another truly indigenous e-commerce company, Konga, to add to its growing conglomerate. Konga acquisition and its merger with Yudala, therefore, gave rise to the biggest truly African e-commerce giant. Konga has already set sight on over-running the competition on the continent. Konga’s ambition of ruling Africa is helped by the unwillingness of e-commerce players in South Africa to re-invest in their businesses.

In a recent interview on CNBC, Jumia co-CEO, Sacha Poignonnec, tried to convince his interviewers that Jumia is an African company, but his explanations fell short of answering the question of why Jumia incorporated in Germany, has its head offices outside Africa, and its major executives’ non-Africans.

Africa is regarded as the next big thing to happen in e-commerce, and Nigeria is at the cusp of this expected wealth boom. With a population of about 200 million and currently Africa’s largest economy, the prospects are colorful for e-commerce.

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