Africa’s e-Commerce To Reach 50bn by Qtr 3


‘Africa’s e-commerce to reach $50bn By Qtr 3’
…As Online Shoppers Embrace New Universal Language
By Olabisi Olaleye

Information and Technology sector has projected that Africa’s e-commerce is estimated to reach $50 billion by the third quarter of 2018.
According to the projection, revenue in the global e-commerce market is expected to gross $18,850 million. While Africa’s share is currently worth more than $32 billion.
This projection evolves in an increased opportunity for e-commerce players in Africa and especially Nigeria, Africa’s largest market, to leverage the expected higher revenue windfall by, not only meeting the demand for more products, but ensuring quality is not compromised.
In 2017, retail e-commerce sales worldwide reached $2.304 trillion, a 24.8 per cent increase over the previous year.
And against this backdrop,Konga Me is fast becoming a hot fad among quality-focused shoppers.
Developed by Konga, the e-commerce giant that emerged from the merger between Yudala and it after the latter’s acquisition by the Zinox Group.
Konga Me speaks to the aspirations of every Nigerian to always insist on the best quality.
is a new universal language for genuine products only. Used by young ones, adults and trendy youths to differentiate quality products from fake ones sourced from unreliable platforms. Also used to request for quality gifts or favours.
For the benefit of the uninitiated, the customized slang is quickly catching on in social circles.
If there is one thing Nigerians are united on, it is the preference for quality products and an abhorrence for fake, substandard ones. Despite a keen desire to extract the utmost value for money when making purchases, the average Nigerian will not hesitate to pay a higher price for a product with the guarantee of genuine quality.
Widely considered a growing industry with the potential to outstrip even the most ambitious projections, e-commerce is a sector where the importance of authenticity or genuine products cannot be over-emphasized.