Less than 30 per cent of African e-commerce startups are profitable, as ventures tackle issues such as lack of funding, shortage of trust and logistical difficulties. Yet fewer than 30 per cent of startups surveyed in the researching of the report said they were profitable, while funding for e-commerce startups has also proven inconsistent as investors are scared off by the long wait for returns. Nigeria emerges as a stand-out leader for e-commerce on the continent, with 40 per cent of Africa’s e-commerce ventures located in the country. “It is evidently extremely fashionable to launch e-commerce startups in Africa, with platforms emerging in a variety of niches across the continent. The full list of 264 African e-commerce startups is also being made available.
Source: The North Africa Journal December 07, 2017 06:00 UTC