Analysis: Women Can Add $14.57 Billion to E-Commerce in Africa, According to IFC Research
The e-commerce market in Africa could grow by more than $14.5 billion between 2025-2030 according to an IFC report published yesterday.
The report notes that this can be achieved by increasing the number of women selling on online platforms and by providing them with better training and financial support to help them match sales made by men.
The report, Women and e-commerce in Africa, found that COVID-19 has accelerated the growth of e-commerce and digital entrepreneurship in Africa and that more women have embraced digital business. However, it also noted that more can be done to promote women’s entrepreneurship and help women overcome e-commerce challenges. For example, e-commerce marketplace platforms are well-positioned to target women-owned businesses with training, and to encourage women’s participation in higher-value segments such as electronics. Women could also strengthen their businesses by taking advantage of emerging fintech offerings, such as in-platform loans, which women currently access at much lower rates than men. The report leveraged data from leading e-commerce firm Jumia, as well as from surveys of vendors in Côte d’Ivoire, Kenya, and Nigeria.
Photo courtesy of WOCinTech Chat.
Source: TechTrendsKE (link opens in a new window)