Unlocking Opportunities: Africa's Digital Commerce Projected to Reach $72 Billion by 2026, Fueled by Rapid Growth and Alternative Payment Methods

Unlocking Opportunities: Africa's Digital Commerce Projected to Reach $72 Billion by 2026, Fueled by Rapid Growth and Alternative Payment Methods

#economy
#e-commerce
#payments
#b2b
#digital economy
Discover the promising landscape of Africa's digital commerce, set to soar to $72 billion by 2026, driven by a 25% annual growth rate. As the continent embraces digitization, find out how alternative payment methods dominate, with a focus on mobile-first strategies, reshaping the future of payments in rising markets. Additionally, explore the surge in B2B payments, propelled by the rise of digital marketplaces, creating new opportunities for businesses in Africa and beyond.

Africa's digital commerce is on track to reach $72 billion by 2026, growing annually at a remarkable 25%, outpacing developed countries. The continent's digital markets, led by Egypt, Kenya, Morocco, Nigeria, and South Africa, are expanding swiftly, presenting enormous potential for growth, especially as internet access becomes nearly universal. Alternative Payment Methods (APMs) play a crucial role, constituting 69% of the total value, surpassing card payments. Mobile money, with 5% market share, is gaining traction, particularly in countries like Kenya. Despite cash remaining a preferred payment method, APMs are poised to gain further market share. The rise of B2B payments in Africa, growing faster than the global rate, is fueled by the surge of digital marketplaces. These marketplaces, operating across various African countries, offer strategic solutions, reducing logistical costs and eliminating intermediaries, contributing to the region's flourishing digital commerce landscape.


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