JOHANNESBURG - Africa’s e-commerce industry is expected to rake in 75 billion US dollars by 2025. This came out at the e-Commerce Conference and Awards ceremony that recently took place in Johannesburg.
South African Yuppiechef.com has once again been named the best e-commerce site in South Africa. It won the title at the 2014 UAfrica eCommerce Conference in Johannesburg this week. 116 thousand people were surveyed and Kalahari.com was voted the favorite website, with TakeAlot.com and Groupon coming in at second and third respectively.
South Africa , Kenya and Nigeria are leading the e-commerce market on the continent. Despite this, the industry still faces several challenges. These include lack of bandwidth and sophisticated financial infrastructure.
Experts in this sector say for it to really take off in Africa, a complex ecosystem for making and processing online payments is needed and banking is a critical part of that ecosystem.