Millennials will lead global ecommerce spending in 2023, study
Millennial consumers prefer online versus in-store shopping, according to new data released today by ESW, the world’s leading global direct-to-consumer (DTC) ecommerce company.
[Kenya] E-commerce startup Zumi is shutting down
Zumi, a Kenyan B2B e-commerce marketplace connecting retailers of non-food products to suppliers is reportedly closing shop after failing to raise funding.
Growing Crypto Market in South Africa - What Cryptocurrency is best to invest in?
Undoubtedly, trading crypto has become one of the primary sources of income for many people. In South Africa, a few people trade crypto full-time, while most treat it as a side hustle.
Africa is one of the world's fastest growing crypto markets
Analysis by blockchain data platform Chainalysis has revealed that Africa’s crypto market is growing faster than anywhere else in the world.
[Nigeria Business Week] Andrea Ayemoba: Local fintech spreads to East Africa, oil and gas find major milestone
Nigeria, like other countries of the world, is going through some economically turbulent times. Inflation is on the rise (recently pegged at 21.9%) and local startups are directly impacted by financial crises on the other side of the world.
[Column] Mike Smollan: South African retail trends for 2022 and beyond
Globally, overwhelmed supply chains, supply-demand imbalances and commodity-driven cost pressures as Russia invaded Ukraine, pushed inflation up and put further pressure on businesses and consumers alike.
[Nigeria Business Week] Andrea Ayemoba: Telcos break new ground, digital loans gain momentum
Instant loans, sometimes called digital loans, are gaining speed in the country and the telecom sector took some giant steps forward this week.
[Nigeria Business Week] Andrea Ayemoba: The 'ember' months performance review
The end of year (fondly referred to as ‘ember months’) tends to bring about anxieties of different sorts among Nigerians.
[Nigeria Business Week] Andrea Ayemoba: Nigeria enters green market, takes on AfCFTA implementation
The collaboration of government with industries is crucial for economic progress, be the market large or small. Nigeria knows this and is taking steps to work closely and create better transparency in one of the country’s most robust industries.
[Interview] Victoria Epelle, Founder, Market Forward, Nigeria
Victoria Epelle founded Market Forward about a year ago and the company has executed projects both local and international and is making a name for itself in the field of Consulting and Project Management.
[Interview] Victoria Epelle, Fondatrice, Market Forward, Nigéria
Victoria Epelle a fondé Market Forward il y a environ un an et la société a exécuté des projets à la fois locaux et internationaux et se fait un nom dans le domaine du conseil et de la gestion de projet.
[Interview] Moulaye Taboure, Co-founder, Afrikrea e-Commerce
Moulaye Taboure is the CEO/Co-founder of Afrikrea, an Africa focused e-commerce platform operating out of Côte d’Ivoire.
[Interview] Seth Mundhe, Founder, Ejenzi Africa, Kenya
After years of experience working in the construction industry, Seth Mundhe identified a need in the market and set up an online marketplace to satisfy it.
[Kenya Business Week] Leveraging the blue economy wave to boost national purse
Kenya has this week successfully hosted the first global conference on blue economy that brought together over 16,000 delegates.
[Column] Hannalie Marsh: Payments in Africa drives innovation
There is a great demand in Africa for cross-border payments and a need to regulate the payment industry on the continent while at the same time opening it up to include non-banks.
[SA Business Week] Key sectors appointments and a busy air route
October is already proving to be a great month for the South African business and economy, maybe even greater. With only a week into the month, three South Africans have been appointed for senior positions in the ICT, aviation and engineering sectors.
Five steps for online startups to take advantage of Black Friday
According to Google Trends last year, South Africa registered the largest ‘Black Friday’ search interest of any country, even ahead of the US where the retail mega-event was conceived.
[Nigeria Business Week] Courting economic expansion one deal at a time
International organisations have shown an increased interest in the Nigerian economy since the stablization of the dollar and the exit from the recent crisis that befell the country.
[Column] Llewellyn le Hané: The speed of Technology- Bucks have become bits and bytes
Technology is becoming increasingly safe, online shopping is not a rarity anymore, even here in Namibia.
[Interview] Shane Leahy, CEO, Tola Mobile
Tola Mobile has positioned itself as a one stop shop for merchants to connect with different types of mobile wallets, offering an easy process to take payments from across several markets and industries.
[Interview] Peter-John Woest, Sales Manager, CAD4Africa, South Africa
Peter-John Woest is Sales Manager in the South African eCommerce site, CAD4Africa, a provider of design technology that is now expanding into Nigeria and Kenya.
[Column] Vahid Monadjem: Mobile money partnerships present an opportunity for banks in emerging markets
Over the past decade, mobile money adoption has skyrocketed - a phenomenon that has primarily been driven by growth in sub-Saharan Africa.
[Column] Jens Ischebeck: How East African students can pay for online courses
With developing technology that has promoted reliable and stable internet connectivity among east African countries, students from the region can now take their courses in the comfort of their homes.
[Column] Shane Leahy: How does a mobile wallet vary in Africa compared to other regions?
Simple and secure ways to complete transactions directly through a mobile device have become increasingly popular over the last three years globally for all users.
[Column] Gilbert Saggia: The future of postal services - digital transformation driving new business models
From the time the first state-run courier was established by Roman Emperor Augustus in the first century AD, global postal services have slowly evolved: the first postage stamps, for example, were only issued in 1840.
[Startup Interview] Emmanuel Oshone, Co-Founder, Zoto, Nigeria
Zoto, a Nigerian technology company has been leveraging Nigeria’s ICT boom to provide quick and seamless payment facility.
[Startup Interview] Emeka Akano, CEO, Jara Mobile Ltd, Nigeria
Jara Mobile Limited, a Nigerian startup, runs an innovative bills payment platform that integrates various retailers into one loyalty programme, giving customers the leeway of doing more with less money.
[Interview] Jens Ischebeck, Founder of Apps-for-money-transfer Guide, Africa & Middle East
Jens Ischebeck is an expert in fintech service providers in Africa, both global and regional. His website, www.apps-for-money-transfer.com, is designed to assist anyone living or operating in the African and Middle Eastern regions to send and receive money in the most quick, efficient, and cost-efficient manner possible.
[Column] Jens Ischebeck: How to save money with remittances to Africa
International money transfers to Africa are rising. There are good reasons for that. With the choice of the right online money transfer provider you can save yourself a high amount of remittance fees.
[Column] Pierre Aurel: Gig Economy disrupts status quo, presenting an opportunity for Africa
Freelancing has found a new name in the digital era. A ‘Gig’ is simply a task performed as a once-off freelancing job, but because the trend towards freelancing has grown so significantly, a new economy has been born: the ‘Gig Economy’.
[Interview] Jorij Abraham, Managing Director, Ecommerce Foundation, The Netherlands
Jorij Abraham is an eCommerce generalist with more than 15 years experience in integrating marketing, business processes and information technology to build online turnover. He is currently the Managing Director of Ecommerce Foundation, a global digital trading entity that is now welcoming partnerships in Africa.
[Column] Dominique Collett: South African fintech in 2018 – what can we expect?
Fintech continues to surprise with little to touch the rise of bitcoin and cryptocurrencies in 2017. This will continue in 2018 and I make some predictions based on what we see happening globally and what we see taking place with our members at AlphaCode.
Nigerians seek next level shopping experience - Nielsen findings
Despite Nigeria’s retail sector being dominated by independent formats like Open Markets and Kiosks in terms of absolute store numbers, modern trade formats like Supermarkets and Hypermarkets are stepping up to fulfil the needs of consumers.
[Startup Interview] Paul Owusu, Founder, Logique, Ghana
Silicon Valley tech entrepreneur, Paul Owusu, moved to Ghana and partnered with tech entrepreneur Kojo Sarpong to form Logique, tech accelerator and parent company to tech products Stack, SmartLobby and Coast.
[Column] Jeremy Potgieter: M2M key to unlocking economic inclusivity and innovation in Africa
As more financial service providers adopt machine-to-machine (M2M) solutions, it is becoming ever more apparent that these solutions are vital to economic inclusivity and innovation on the African continent.
[Interview] Paul Langlois-Meurinne, CEO and Co Founder, Optimetriks, Kenya
Paul Langlois-Meurinne is the co-founder and CEO of Optimetriks, a company that has developed an innovative data collection crowdsourcing platform to help Fast Moving Consumer Good companies and institutions monitor their distribution in Africa at outlet levels.
[Startup Interview] Axel Peyriere, Co-Founder, AfricarGroup
Axel Peyriere is co-founder of the number one car classifieds websites in Africa, the AfricarGroup, which covers 22 countries and translated into 10 local dialects of the continent. His interview with Africa Business Communities:
[Startup Interview] Lola Ekugo, Founder, Transthat, Nigeria
Lola Ekugo runs an online business that connects travelers and people in Nigeria who want to buy items abroad or transport documents from abroad.
[Interview] Josh Okpata, Founder and CEO, Eazyhire, Nigeria
Josh Okpata has built a unique business in Nigeria and Kenya, the first of its kind in Africa that allows peer to peer leasing for businesses and individuals.
[Column] Mukhisa Kituyi: Faster, better and together: the road to inclusive e-commerce in Africa
Small is beautiful, small is powerful”. This is the creed embedded in the foundation of a global e-commerce giant: Alibaba.
[Startup Interview] Mike Bondo, CEO and Co founder, McShop, Democratic Republic of Congo
A high demand for South African products by people in his native country of DR Congo on perceived quality, was the spark that inspired Mike Bondo to start an online shop dubbed McShop connecting buyers to local and international brands
[Interview] Marc Gellings, CEO Business1.com
Business1.com is the base of the international business-to-business 1.com-websites. Africa Business Communities is meeting with founder Marc Gellings.
[Column] Daniel Monehin: Shedding light on the African shadow economy
The Informal Economy, or if you have a penchant for the more colourful descriptor, the “Shadow” or “Grey” Economy, is typically the term used to refer to the portion of a country’s economy that transact exclusively in cash
[Interview] Ekene Okechukwu, Founder, Bargainmasterng.com, Nigeria
Ekene Okechukwu is Founder of Bargainmasterng.com, Nigeria's social marketplace for online sellers and buyers.
[Column] Jens Ischebeck: Why should I pay for my education?
Online education is big business. With a plethora of different e-learning courses and qualifications available, it can be difficult to choose between education apps, online portals, MOOCs and old-fashioned courses in brick and mortar institutions.
[Column] Dewald Nolte: Why South African banks hold the key to mobile payments
For the South African market to reach the critical mass that will drive the mainstream adoption of mobile payments, consumers need a system they can trust.
[Interview] Kayode Olusola Lawal, CEO, Associate Box
Kayode Olusola Lawal is CEO of Associate Box, a digital marketplace for African techies. Africabizz interviews him:
E-Commerce and FinTech provide access to global markets for African businesses
Business has finally gone truly global, even though this has all happened in the online space. The secret has been the manner in which technology and the internet have become so widespread that the global village has arguably become a reality.
HALA Fintech to acquire UAE’s payment startup – Paymennt.com
Hala announced that it has acquired, through its holding company, United Arab Emirates Paymennt.com during the second edition of the Largest Global Technology event – LEAP 2023.
Toggle Market has expanded its B2B buy now, pay later (BNPL) solution to Rwanda
Toggle Market’s B2B ‘Buy Now Pay Later’ continues its expansion across the African continent and now launched in Rwanda in addition to other four African countries.
CellPoint Digital partners with Akwaaba to scale grocery e-commerce
CellPoint Digital, the London-based pioneer of Payment Orchestration, has announced it is partnering with Akwaaba, a multinational food, grocery and household goods retailer.
[Column] Tridiv Vasavada: 3 Key Trends for Africa’s Informal Retail Sector in 2023
Tridiv Vasavada, Chief Technology Officer at Wasoko, Africa’s largest B2B e-commerce network, explores three key industry trends to look out for this year.
[Column] Blessed Hwaire: Three ways retailers can continue their golden run in 2023
The retail industry is one of the few sectors of the economy that emerged from the pandemic relatively unscathed.
Ethiopian Airlines and MailAmerica S.A. launch ecommerce logistics services
Ethiopian Airlines Group (ET) has partnered with MailAmericas (MA), a private postal operator and gold member of the consultive committee for the Universal Postal Union, to develop competitive cross border ecommerce services within Africa and the Middle East using Addis Ababa as a hub.
Samata Capital, Future Africa et al. to invest in Uncover Skin Care
Advancing Women in Investing (AWI) is excited to be part of the $1 million seed round for Uncover alongside FirstCheck Africa, Future Africa, and IgniteXL as well as angel investors ex-SokoWatch COO Kwenhui Tawah and WPP Scangroup CEO Patricia Ithau.
[South Africa] Pick n Pay selects Blue Yonder to deliver localized planning
Pick n Pay will implement Blue Yonder’s SaaS-based category management solution for grocery business, and allocation and assortment management solutions for its clothing business.
[South Africa] Online retail passes R50-billion in 2022, research
Online sales were boosted by Black Friday, with all banks reporting massive increases in card and online spending on what has become one of the biggest shopping days of the year.
Growth in cashless transactions spurs new and innovative payment solutions
Last year, exciting developments in South Africa’s payments sector were good reason to be cautiously optimistic about 2023 with new products and services setting the pace of the journey to a digital cashless future, says Andrew Springate, CEO of fintech payment solution provider PAYM8.
e-Commerce platform Hubtel extends operations to Tamale, Ghana
e-Commerce, messaging and payments platform Hubtel announced it has spread its tentacles to Tamale, the Northern Region of Ghana.
The global buy-now-pay-later market to reach $467 billion by 2026, report
An increase in the adoption of online payment methods is expected to propel the growth of the buy-now-pay-later market going forward.
WFP launches virtual marketplace to boost smallholder farmers’ income in Namibia
The United Nations World Food Programme (WFP), is collaborating with Tololi Online, an e-Commerce platform to set up a virtual marketplace as part of efforts to improve market access and boost farmers’ income in Namibia.
Senegalese startup Kwely launches Made in Africa online store
Kwely, a Senegalese-based startup has launched a B2B e-marketplace to provide African producers and manufacturers with a global window to sell their products at scale.
Kwely launches game-changing Made-in-Africa marketplace
The Senegal-based startup introduces to the public the minimum viable product (MVP) version of its B2B online store for Made in Africa products targeting small and large businesses globally.
Jumia closes Dubai office, moves senior staff to Africa
Jumia Technologies has announced the closure of its Dubai office as the company remodels its business following years of loss-making and a constantly evolving eCommerce marketplace.
Une hausse de 26 milliards de dollars par an des échanges internationaux en Afrique de l'Ouest selon IFC et OMC
Selon une étude d’IFC et de l'OMC, l'amélioration de l'accès au financement du commerce pourrait entraîner une hausse de 26 milliards de dollars par an des échanges internationaux en Afrique de l'Ouest
Beko rolls out mobile commerce platform for Kenyan consumers
Beko, one of the top 3 large home appliance brands in Europe with a strong footprint in Africa has announced its entry into the mobile commerce space with the rollout of a WhatsApp-powered service
[Kenya] Lipa Later acquires e-commerce platform SkyGarden for an undisclosed sum
SkyGarden which has raised north of $6,000,000 prior to this acquisition, will now be fully owned by Lipa Later Group and will continue to operate using its name.
Egyptian startup Sideup raises $1.2m to grow its e-Commerce platform
Sideup, the MENA region’s platform for e-Commerce services has announced the completion of a $1.2m seed round.
[Kenya] Ex-Jumia executives launch new e-commerce company
Former Jumia executives have launched a new e-commerce company called “Kapu” that allows customers in cities to shop & save on their weekly grocery basket.
[South Africa] Mastercard and payment gateway PayFast extend support to SMEs
With hundreds of SMEs impacted during Covid, Mastercard and PayFast are lending their continued support to these operations, with this campaign being one of many initiatives.
[Column] Michael Mwangi: Accelerate digital transformation in the SME sector to boost growth of e-commerce
Digitisation of small businesses supports the overall growth of the economy, given the important role they play in the wider economic picture.
[South Africa] Value-added services will define the future of e-commerce, says PAYM8
Online shopping in South Africa has become the new normal bringing with it new payment opportunities and some key challenges yet to be overcome.
Kenyan supply chain and logistics startup Leta secures $3m pre-seed funding to accelerate growth
Leta, the supply chain and logistics startup driving distribution optimization, announced the close of $3 million Pre-Seed equity round.
Afreximbank outlines US$3 billion country programme for Kenya
Kenya is set to benefit from a US$3 billion Country Programme from African Export-Import Bank (Afreximbank). This was announced during a meeting between Kenya’s President, His Excellency Dr William Ruto, and Professor Benedict Okey Oramah, President and Chairman of the Board of Directors of Afreximbank.
How African cities can create vibrant digital sectors that drive jobs for youth, BCG
African cities can follow this path, using digitisation to create jobs that often pay better than traditional roles, favour younger candidates, support local economies of small- and SMEs, and are less vulnerable to future disruptions.
[Ethiopia] Hibret Bank and Mastercard give small businesses a boost through e-commerce payment solution
Hibir e-commerce is first-of- its kind in the Ethiopian banking industry. This move is expected to help local businesses reach new markets and increase revenue while expanding Ethiopia’s access to the digital economy.
Demand for seamless, convenient way of shopping increase growth of e-Commerce in Africa
The electronic commerce (e-Commerce) transaction of goods and services between business-to-consumer (B2C), business-to-business (B2B), consumer-to-consumer, and consumer-to-business, has become rampant in this digital age.
New buyer comes to the rescue of Kenya's e-commerce platform Sky.Garden
Sky.Garden CEO/CPO & Co-Founder Martin Majlund via his LinkedIn page announced that they have found a buyer for the company
Jumia Co-CEOs step down from the company
Jumia Technologies Co-CEOs Jeremy Hodara and Sacha Poignonnec have stepped down from the company effective today.
[Kenya] Jumia Black Friday to run from 4th to 30th November 2022
Millions of consumers are expected to log on to the Jumia App to leverage online sales. This is the company’s 7th Black Friday, which aims to support businesses by reaching more consumers on the platform.
[column] Frans Frida: Positioning Africa MSMEs to tap into and benefit from the AfCFTA
The African Continental Free Trade Area (AfCFTA) is a continental treaty that seeks to, among other things, eliminate tariff and non-tariff barriers that have hindered intracontinental trade and the movement of people and goods for centuries on the continent.
[South Africa] E-commerce in dire need of better identity authentication measures, says iiDENTIFii
Online retailers in South Africa will not only have to refine their digital strategies, but they will also have to up their security measures, says Gur Geva, Co-Founder and CEO tech innovator, iiDENTIFii.
Wasoko says it has not shut down its operations in Kenya
Kenyan-based B2B e-commerce startup Wasoko has dismissed reports that it has shut down its operations in the country.
Ugandan agritech startup Inputi receives investment to boost inputs distribution
The Ugandan tech company Inputi is improving the odds in its region with funding from Renew Capital, an impact investment firm growing small and medium-sized businesses in East Africa through its network of investors, Renew Capital Angels.
Dooka partners with Tradeshift to unveil Pan African business to business digital marketplace
Dooka has partnered with Tradeshift, the global network for digital trade, to launch the first-ever pan-African digital marketplace for business-to-business trade across the continent.
[Kenya] Twiga Foods taps Google Cloud to enhance efficiency of the food value chain
Twiga Foods will leverage Google Cloud technologies in running an efficient food value chain that connects farmers directly with vendors to bring high quality, locally harvested fresh produce to people every day—increasing accessibility to food items in Kenya.
Kenyan Mobile Commerce Startup Copia Global Announces New Leadership Appointments
Copia Global has announced new appointments to its leadership as the organization deepens its focus on regional growth and continues to pursue its expansion strategy.
Afreximbank se félicite de l'adoption de lois sur l'affacturage au Niger et au Burkina Faso
La Banque africaine d'import-export (Afreximbank) a félicité les gouvernements du Niger et du Burkina Faso pour avoir adopté une loi sur l'affacturage afin de soutenir les activités commerciales des PME.
[Kenya] E-commerce startup Sky.Garden faces closure after failing to raise funding
According to technology publication TechCrunch, Sky.Garden’s co-founder Martin Majlund has already served employees with termination notices, after indicating earlier that the company was running out of money.
[Kenya] Jumia adds electric Tuk-Tuks to its delivery fleet in Kenya
Jumia Kenya is adding E-Vans or what are commonly known as Tuk-Tuks to its delivery fleet in the country. The e-commerce leader has partnered with California-based EV solutions provider BILITI Electric for this project.
OmniBiz announced a brand refresh
OmniBiz, a platform digitizing the essential goods ecosystem has announced a brand refresh.
Vendease secures $30m to transform procurement and business operations for restaurants across Africa
Vendease, a Y Combinator-backed digital platform that allows restaurants in Africa to buy supplies, access financial services and power their business operations, has raised $30 million in an equity and debt funding round.
West african fintech startup Julaya raises $5m extension round to expand its operations
Julaya, a fintech stratup based in Côte d’Ivoire, Senegal and France, announced it has raised $5 million extension round led by European venture capital fund Speedinvest to expand its operations in West Africa.
[Kenya] Jumia, Coca-Cola partner to provide online shopping to consumers in Africa
Africa's e-commerce leader Jumia has today announced a partnership with the Coca-Cola Africa Operating Unit to offer consumers access to Coca-Cola products from the comfort of their homes.
[Kenya] Jumia launches an integrated warehouse and logistics network facility to fasten delivery time and cut costs
Jumia has opened a new integrated warehouse and logistics network facility in Nairobi. The new facility will aim to transform Jumia logistics operations by providing increased storage capacity for scale-up of warehouse operations
[Column] Carey van Vlaanderen: The most common Facebook Marketplace scams and how to avoid them
Online retail in South Africa has more than doubled in just two years and with 29.5 million-strong Facebook users, more than half of the country’s population has a Facebook account
CellPoint Digital partners with Radisson Hotel Group
Radisson Hotel Group will now use CellPoint Digital’s full payment orchestration platform to seamlessly integrate new payment methods, new acquirers and stored card facilities.
Xente Tech acquires PSO license from Bank of Uganda
PSO license open up opportunity for Xente to provide world-class financial technology solutions to businesses in Africa and is a commitment to Xente customers, partners, and other stakeholders, that they are offered a safe and compliant service.
[Ghana] DPO Group collaborates with Mastercard to help businesses accept digital payments
Through the collaboration, DPO will leverage Mastercard’s digital payments technology to enable merchants to safely, seamlessly and securely accept a wide range of digital payment methods including mobile money and via e-wallets – both locally and from abroad – in the currency of their choice.