The bi-annual Global Retail Development Index (GRDI), which is a study of the global retailing landscape has revealed Africa is poised to move away from traditional retail models and become the fastest-growing, richest, and most sophisticated market in the world. Prashaen Reddy, a partner at management consulting firm Kearney says that this is thanks to
With online sales in Africa on course to top the trillion-rand mark by 2026, the race is on for ecommerce businesses to claim their piece of the pie. Research by Payments and Commerce Market Intelligence (PCMI) indicates that in the next two years the digital commerce market is expected to reach US$72-billion across South Africa,
With foreign exchange shortages plaguing sub-Saharan African economies, Bank One’s Head of Trade, Gerald Ndosi, explains what measures can be taken to overcome US dollar liquidity challenges, promote trade finance, and foster sustainable economic growth in the region International Trade is conducted in the currencies of major economic powers, largely the US dollar, European Union
A new consumer-focused survey has projected Konga as the most admired and innovative e-commerce company on the African continent. The survey, which was published on March 15, 2023, coincided with the World Consumer Rights Day. The market-wide consumer-based survey examined the current state, performance and growth path of e-commerce in Africa. The poll, which cut
By Darijan Bošković, Sales Director: Africa at Infobip The African continent is widely considered retail’s next big gold rush, based on its population of 1.4 billion people, which includes more than 500 million internet users and over 330 million eCommerce consumers. Additionally, with 19 of the top 20 fastest-growing countries in the world, the continent’s
Nomanini (https://Nomanini.com), a fast-growing fintech platform in Africa, has today announced the launch of a new supply chain finance solution called StockNow that connects FMCGs and financial service providers to serve Africa’s informal retailers at scale. StockNow, an easy-to-use app for retailers developed by Nomanini, makes it possible for informal micro and small retailers to
The Food Lab (TFL), Egypt’s first cloud kitchen services operator, has announced the completion of a significant $4.5 million pre-seed fund raising round. This round includes investors from across the world and was co-led by Nuwa Capital, Shorooq Partners and 4DX Ventures. The pre-seed round also saw the participation of Saudi Arabia based Al Faisaliah Group and
78% of SMEs in region’s retail sector are optimistic about the next 12 months, according to Mastercard MEA SME Confidence Index SME confidence levels were highest among businesses in retail, ahead of other sectors, like food and beverage, entertainment, construction, and manufacturing Research identified key areas with the greatest potential for growth with half of
Hand-in-Hand with the private sector Transforming the world’s agri-food systems, the way we produce, process, distribute and consume food has been identified as one of the key avenues to achieving many targets of the 2030 Agenda. This means better production, better nutrition, and a better environment, for a better life. The 2021-2025 FAO strategy for
Jumia, the leading e-commerce company, topped the list of the most influential brands in Egypt, according to a survey conducted in 2020 by IPSOS, the global research company, which is the third largest global research agency. IPSOS stated in its study that Jumia topped the list in the digital and e- commerce sector, and ranked
Jumia Technologies AG is rolling out its restaurant-delivery service in Egypt, making the country the tenth where it offers the capability. Hesham Safwat, Jumia’s Chief Executive for the Egyptian market, said the ecommerce company focused on Africa is planning to launch the service during the first quarter with hundreds of participating restaurants. It will face
Inspired by Egypt’s leadership in the field of information and communications technology as a result of its well-trained cadres, the eCommerce leader in Egypt and Africa, has announced that the Egyptian market has been chosen officially to host a technology center to be the new Jumia technology center in Africa to provide its services to
Egypt Post and Jumia signed today a cooperation protocol that aims to boost and develop e-commerce trade flows and industry in Egypt. Dr. Sharif Farouk, Chairperson of Egypt Post, said that the agreement aims to overcome the barriers that affect the potential growth of Egypt’s e-commerce market. He also pointed out that the agreement will
Clothing (62%), Computer and electronics (56%), and health products (55%) top the virtual shopping list in Egypt 4 in 5 people are using the downtime to upskill. Top learning experiences include banking, cooking, dancing, learning a language, and managing their health online Social media has become an integral platform for connecting consumers to online businesses
Mondia (https://Mondia.com), a leading technology company which specialises in the marketing and distribution of digital content and Jumia (NYSE : JMIA) (www.Jumia.com.ng), Africa’s largest e-commerce platform, today announced the launch of Jumia Games, a competitively priced entertainment category on the JumiaPay App. In its first phase, the fully branded gaming portal is available in five
Over the next two years, USAID and Chipsy for Food Industries will expand activities to farmers in the Menoufia and Minya governorates and plan to reach 2,500 farmers by 2023 The U.S. government, through the U.S. Agency for International Development (USAID) and Chipsy for Food Industries, a PepsiCo Egypt company, renewed a partnership that boosts
Jumia, Africa’s leading e-commerce platform and Mastercard today announced a partnership to incentivize the use of cashless payments platforms as people look for safer ways to pay in the wake of the COVID-19 pandemic. Through this initiative, consumers who purchase essential products using their Mastercard on the Jumia platform will receive up to a 10
Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia, and operator of the Carrefour brand in Egypt, today signed an agreement with Jumia, Africa’s largest eCommerce platform, to extend its seamless online offering across Egypt. Through this partnership, Carrefour is taking its commitment to customer
Investec Asset Management (‘IAM’) has completed its first private equity investment in Egypt, by acquiring control of Spinneys Egypt (‘Spinneys’), a rapidly growing supermarket chain in Egypt. This marks the eighth investment from IAM’s second pan-African private equity fund. The business is one of the leading grocery retail players in Egypt, having expanded to a
UAE based leading retail company LuLu Group is planning to invest USD 500 mn in Egypt over the next two years to expand its local operations, according to a statement issued in Cairo. The company intends to build four new Hypermarkets in 6 October City, New Cairo, and Obour, Group Chairman and Managing Director Yusuff
Kellogg Company will continue its School Feeding Program and launch two new initiatives in Egypt Kellogg Company, the world’s leading cereal company; second largest producer of cookies, crackers and savory snacks; a leading North American frozen foods company; and owner of Bisco Misr, Egypt’s leading biscuits company and Mass Food company, recently signed a partnership
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