Sunday , 14 April 2024
Home Business “Women Can Add $14.58 Billion to E-Commerce in Africa”
BusinessTrending News

“Women Can Add $14.58 Billion to E-Commerce in Africa”

Jumia

 A new report, published today by the International Finance Corporation (IFC) in partnership with Africa’s leading e-commerce firm Jumia, has said Africa’s e-commerce market could grow by more than $14.5 billion between 2025-2030.

 

 

The report says this can be achieved by increasing the number of women selling on online platforms and by providing them with better training and financial support to help them match sales made by men.

 

The report shows that women comprise half of all active e-commerce vendors in Africa, though they tend to run smaller-scale businesses and feature prominently in high-competition, low-value segments like beauty. On the Jumia platform, just over a third of businesses in Côte d’Ivoire and over half in Kenya and Nigeria are owned by women.

 

Juliet Anammah, Chairwoman Jumia Nigeria and Group Head of Institutional Affairs, said, “It is absolutely essential for women to be factored in, given the future of e-commerce. Africa is just at the start of its e-commerce growth trajectory. Now is the time to ensure women entrepreneurs are the leaders of Africa’s digital journey.”

 

See also  IBEDC Celebrates Customer Service Week, Says It Is Committed To Excellent Service Delivery

The report, Women and e-commerce in Africa, found that COVID-19 has accelerated the growth of e-commerce and digital entrepreneurship in Africa and that more women have embraced digital business. However, it also noted that more can be done to promote women’s entrepreneurship and help women overcome e-commerce challenges. For example, e-commerce marketplace platforms are well-positioned to target women-owned businesses with training, and to encourage women’s participation in higher-value segments such as electronics. Women could also strengthen their businesses by taking advantage of emerging fintech offerings, such as in-platform loans, which women currently access at much lower rates than men. The report leveraged data from leading e-commerce firm Jumia, as well as from surveys of vendors in Côte d’Ivoire, Kenya, and Nigeria.

 

“E-commerce in Africa is thriving, yet we are already seeing a widening gender gap in the sector. IFC’s report not only highlights the gap, but also shows how it might be addressed so that women entrepreneurs can succeed in this important and rapidly growing marketplace,” said Sérgio Pimenta, IFC Vice President for the Middle East and Africa.

See also  Sir Kessington Adebutu Honoured at the House of Lords in London

 

Supporting women entrepreneurs has taken on renewed urgency since the outbreak of COVID-19. In the first year of the pandemic, women-owned businesses in the three countries studied suffered reduced sales of 39 percent, compared to only a 28 percent drop for men-owned businesses.

 

The research was undertaken by Digital2Equal, an IFC-led initiative conducted in partnership with the European Commission, which brought together 17 leading technology companies operating across the global online marketplace to boost opportunities for women in emerging markets. Additional funding was provided by the Umbrella Fund for Gender Equality. The research was carried out by IFC in partnership with global advisory firm Kantar Public.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Lawmaker
PoliticsTrending News

Lagos Lawmaker Presents 1,500 Free JAMB Forms To Indigent Students

Hon. Adewale Temitope Adedeji, OON (JP), member representing Ifako-Ijaiye Constituency 01 at...

ZENITH BANK
BusinessTrending News

Zenith Bank CAPS 2023 With Unprecedented Triple-Digit Topline and Bottom-Line Growth

Zenith Bank Plc has announced its audited results for the year ended...

FirstBank
BusinessTrending News

FirstBank: 130 Years of Enabling Success

In a country with short-lived corporate excellence and a handful of centenary...

PariPesa, LASUSTECH
SportsTrending News

United By Sport: PariPesa’s Impact at LASUSTECH

PariPesa, a leading sports betting brand, recently took a meaningful step towards...