The continent is seeing a boom on the channel, led by Egypt, Nigeria, Kenya and South Africa.
Mobile commerce moving Africa’s digital economy forward, led by Nigeria, then Egypt, Kenya, and South Africa.
The continent’s online economy is greatly based on the use of smartphones throughout the population.
The Department for International Trade (DIT) recently released a whitepaper titled “Towards a flourishing digital economy for all – a spotlight on Africa”, with the Mobile World Live team at the GSM Association. The whitepaper was released on the edge of the Mobile World Congress 2022. The research delves into the progress being made in the creation of the mobile-driven digital economy in Africa.
The report also examines the obstacles specific to mobile payments and digital transactions in the continent, such as the fact that the vast proportion of the people there are unbanked, identity credentials are unreliable, and last mile delivery challenges are notable.
Africa is very much considered to be a region in which mobile commerce is at the top of digital.
Dr. Mike Short, DIT chief scientific adviser spoke during the whitepaper’s launch, discussing the way that Africa is a mobile-first region on all levels of the digital spectrum. The UK’s DIT m-commerce is a branch of e-commerce, but the majority of the report’s emphasis is placed on the mobile sphere, he said.
“Our report triggers a much-needed discussion on how to advance the mobile commerce revolution in Africa, which will in the long-term lead to mutually beneficial digital trade between the continent and its trading partners, including the UK,” said Short.
The report predicts that global online shopping revenue will reach $7.4 trillion by the close of 2025. When Short spoke at the event, he explained that “These are huge growth rates by anybody’s estimation, but the share that’s attributed to Africa is $180 billion, and there is a lot of room to grow given it’s such a burgeoning continent.”
Mike Freer, the UK minister for exports was also in attendance and agreed that mobile commerce in Africa is outright driving its digital economy. He pointed out that it had already formed a successful domestic-owned business throughout Africa.
“The continent will seize the opportunities that lie ahead and strive for economic empowerment. Digital trade, particularly mobile commerce, will be at the heart of this growth. By 2050, half of the global trade is expected to be digital,” said Freer. “In the UK, we are champions of digital trade. Our government supports the opportunities to trade online; we’re helping global investors to supercharge the digital economy.”