Our market

who we are 1

Africa is growing …

  • Africa’s GDP grew faster than any other region except East Asia over the last decade, and in 2015, 7 of 10 fastest growing countries will be in Africa.
  • By 2035, Africa will have more workers than China or India

… and this growth is creating a new consumer middle class.

  • By 2020, 128 million African households will have discretionary income, versus 59 million in 2000
  • Of Africans in key markets, 84% expect their households to be better off in the next two years
who we are 2

Internet access is growing, especially on mobile phones …

  • 52% of urban Africans have accessed the Internet in the last month, similar to China and Brazil and ahead of India
  • The number of mobile phone connections in Sub-Saharan Africa has grown 44% a year over 2000-2012, with 475m mobile phone connections for a population of 854.

… but even in South Africa, e-commerce has captured little of the market.

  • Only 0.9% of South African retail is online, versus 11% in USA

 

 

Africans are hungry for innovative, quality offerings

  • M-PESA, a mobile money offering that launched in 2007 in Kenya, is used by 70% of Kenyan adults, and has volumes equivalent to around a third of Kenyan GDP
  • South African fashion e-comerce retailer Zando recorded 10m visitors in the first year of operation

Sources: Euromonitor International, GSM Association, IMF, McKinsey & Company, McKinsey Global Institute, Safaricom