Tag Archives: e-commerce
e-commerce: Latest News
MallforAfrica Launches Dedicated Website To Give Africans Direct Access To Millions Of eBay ProductsBy Peter Pedroncelli, 6:26 am
African e-commerce platform MallforAfrica (MFA) has announced the launch of a new dedicated website for eBay shopping enthusiasts in Africa. Available in Nigeria and Kenya, before a role out to other African countries, the website ebayforafrica.com see the online site extend its relationship with eBay for the benefit of customers in Africa, allowing them to access tens of millions of eBay.com listings directly from the site. African online shoppers will now have unprecedented access to millions more products.
Staff, 4:02 pm
When their Kickstarter campaign failed, a brother-sister team switched gears and ran a successful social media campaign selling Africa-inspired swimsuits online. Their swimwear prints include the Apremo-Canon pattern, a Kente design symbolic of resisting foreign domination — something Ghanaians fought beginning in the 15th century against English colonizers. The Ashanti Swimwear platform helps women in the diaspora and Africa dominate in the online e-commerce space so they can be location-independent, said British-Ghanaian Yasmeen Opare, co-founder of Ashanti Swimwear.
Dana Sanchez, 1:01 am
Local Nigerian appetites for luxury appear to be intact, despite the country’s financial hardship since crude oil prices fell off a cliff. Trendy hotspots are constantly appearing. There are rumors of a Nobu restaurant under construction. When wealthy Nigerians want a shopping spree without the airfare to London, some go to Polo Luxury, which operates luxury retail outlets across West Africa. Jennifer Obayuwana is executive director of the company founded by her father. She spoke to Forbes about the planned March launch of Polo’s luxury online shopping platform – a first of its kind in Africa.
Tom Jackson, 12:35 pm AFKI Original
Despite the hype, profitability is still an unattainable ideal for Nigerian online shopping giants Konga and Jumia. Believers say e-commerce in Africa is “absolutely a long-term play.” They expect the short- and medium-term to be challenging. Players are still working on fast and easy payments and refunds, and trouble-free deliveries and returns. “It takes a long time for consumers to become comfortable shopping online, and it’s hard and expensive to accelerate this,” a stakeholder said. Investors aren’t all put off though. The potential prizes are too great.
Dana Sanchez, 11:04 am
One of South Africa’s largest banks bought a majority stake in the team that built the country’s largest mobile payments product. Africa has the highest mobile money adoption rate in the world, but it’s hardly universal, catching on more in some countries and less in others. While banks and mobile payments startups would like to see large-scale adoption of mobile money, the reality is cash is likely to remain king in Africa — internet penetration and trust in the financial system are low on the continent.
Ann Brown, 9:00 am AFKI Original
Nigerian-American Olatorera Oniru worked full time for some of the largest corporations in the world, but kept her dream alive by working part time for herself. At 29, she owns one of Nigeria’s top e-commerce fashion businesses. Focused on the Made-in-Africa movement, she mentors other entrepreneurs with potential in fashion and beauty who have not met the quality criteria to retail with her. Many university graduates don’t have the skills to succeed in the business world, and it’s one of the challenges of doing business in Africa, Oniru told AFKInsider.
Dana Sanchez, 12:57 pm
More than 70 percent of the world don’t have a street address, and sub-Saharan Africa leads. About 200 million people live in slums — home to the informal economy that is creating jobs. Big box stores like Cape Town-based clothing retailer Foschini Group are tapping in to the economic buying power of informal settlements. They’re coming up with innovative solutions to deliver e-commerce purchases to people who don’t have addresses.
Dana Sanchez, 3:21 pm AFKI Original
Online retail is still small by global standards in much of Africa, but it’s growing fast thanks to increased penetration of smartphones. E-commerce in Africa is expected to be worth $50 billion in 2018, up from US$8 billion in 2013. There’s rising demand for warehouse space by manufacturers seeking to expand in Africa. Knight Frank singled out landlocked Zambia as one of the most promising logistics locations in sub-Sahara, thanks to its geographical position at the intersection of Southern, Eastern and Central Africa.
Kevin Mwanza, 6:51 am
US based market platform, eBay Inc., has partnered with online shopping startup MallsforAfrica.com to give its sellers access to Africa’s biggest consumer market from July 2016. MallforAfrica.com was launched in 2010 by Nigerian Chris Folayan, with the aim of enabling African consumers to shop from western retailers. It claims to offer access to more than 8.5 billion items through 100 online stores including partnerships with Amazon, BestBuy, Macys and Bloomingdale.
Ann Brown, 2:55 pm AFKI Original
Zimbabwean businessman Taurai Chinyamakobvu believes in adopting and adapting. Some of the things he learned from Obama’s Young African Leaders Initiative at Yale University were adoptable and adaptable to the realities of an African country. Others, not so much. “The U.S. has a dynamic ecosystem for technology and start-up companies which does not exist in Africa,” he told AFKInsider. “Venture capital, private equity financing, and angel investment opportunities are either few and far between or nonexistent.”
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