Jumia Archives - AfricaBusiness.com

Africa, 2nd fastest growing tourism region in the world

1Oct

By Africa BusinessNo Comments

Africa Travel

Africa, 2nd fastest growing tourism region in the world

Jumia launches the 3rd edition of the Hospitality Report Africa, shows travel & tourism contributed 8.5% to the continent’s GDP in 2018 Travel and tourism remained one of the key growth drivers of Africa's economy, contributing 8.5% of the GDP in 2018; equivalent to $194.2 billion. According to the 2019 Jumia Hospitality Report Africa, this growth record placed the continent as the second-fastest growing tourism region in the world, with a growth rate of 5.6% after Asia Pacific and against a 3.9% global average growth rate. “Our focus is to continue showcasing Africa as a continent full of beauty and opportunity. Through this report, we want to help draw attention to the vast potential of the tourism industry, that we believe is an untapped lever of economic growth,” said Jumia’s Head ...

Tearing down barriers for the growth of African rural e-commerce

3Sep

By Josephine WawiraNo Comments

Main, Tanzania News

Tearing down barriers for the growth of African rural e-commerce

By Josephine Wawira The rise and growth of e-commerce in the world and primarily in Africa has created a lot of business opportunities, not only in urban but also in rural areas. The good news is that there is undoubtedly increased connectivity, reaching even the previously inaccessible remote villages across the continent and connecting them with e-commerce. Over the past approximately three years, the market has been noted to move substantially in the direction of developing logistics meant to tear down barriers for e-commerce penetration in rural markets. Consequently, online retailers can now reach customers in remote cities, while locals have access to a variety of products from major urban cities. While over 50% of the world is now connected to the internet, only 36% of the African p...

Logistics challenges facing eCommerce in Africa

26Jun

By Josephine WawiraNo Comments

Business, Tech

Logistics challenges facing eCommerce in Africa

According to Euromonitor, the world’s fastest-growing economies by 2030 will be in Africa. This consequently makes the continent the next big e-commerce market. And as this positive narrative continues to place Africa as a top investment destination, the need for advanced logistics systems has become inevitable. The growth of e-commerce will significantly depend on the quality and efficiency of logistics networks; from intra and cross trade to financial transactions in payment of goods and services. When writing the African e-commerce story, I often leap at the chance to explore only the enviable milestones the continent has made. Nevertheless, there still exist formidable challenges especially in logistics, a vital constituent of the industry. The African Development Bank, in its 2019 Afr...

Can e-commerce be Africa’s economic goldmine?

3Jun

By Josephine WawiraNo Comments

Main, Tech

Can e-commerce be Africa’s economic goldmine?

Digital economy in Africa is snowballing, and in the process it’s creating new jobs and opportunities for digital entrepreneurs to explore a larger web market. Though e-commerce represents only 0.6% of all the transactions done in Africa, as compared to 12% in the USA and 20% in China; the budding nature of the industry does rightfully make one muse on the possibility, that e-commerce is indeed Africa’s economic goldmine. Facilitation of Cross Border eTrade The global market has shrunk to a large scale, and is now enabling billions of people to sell and purchase products across borders. This has been made possible by technological innovations that have birthed online marketplaces that enable e-trade between businesses (B2B), between consumers (C2C) and between businesses and consumers (B2C...

Online Marketplaces Could Create 3 Million Jobs in Africa by 2025

3Apr

By Josephine WawiraNo Comments

Business, Tech

Online Marketplaces Could Create 3 Million Jobs in Africa by 2025

Online marketplaces such as Jumia, Souq, Uber, and Travelstart could create around 3 million new jobs by 2025 across Africa. These digital platforms, which match buyers and providers of goods and services, could also raise incomes and boost inclusive economic growth with minimal disruption to existing businesses and workforce norms. These are among the findings of a new report, titled How Online Marketplaces Can Power Employment in Africa, released by Boston Consulting Group (BCG). Generating employment is an urgent priority across the continent. The African Development Bank estimates that one-third of the 420 million Africans age 15 through 35 were unemployed as of 2015. Around 58% of the new jobs—created directly, indirectly, and through the additional economic activity generated by onli...

Growth of African Tourism as industry remains resilient

15Jan

By Josephine WawiraNo Comments

Africa Travel, Interview

Growth of African Tourism as industry remains resilient

The festive season in Africa also marks the highest season in the tourism industry, as demand for getaway destinations in the continent surges. According to a Hospitality Report Africa - 2018/19, IATA’s most popular airline destinations in Africa in terms of traffic are South Africa, Egypt, Morocco, Algeria, Nigeria, Tunisia, Kenya, Ethiopia, Mauritius and Tanzania respectively. These being just among other African countries favorited by tourists not only during Christmas seasons but also throughout the year; for their exotic and relaxing nature. Magnificent sceneries, wild and untouched nature for remarkable safaris and inestimable coastlines, Africa is indeed a favorable tourism destination. In the report by Jumia Travel, the United Nations World Tourism Organization (UNWTO) Secretary Ge...

Africa’s Travel & Tourism Top 2018 Highlights

15Jan

By Josephine WawiraNo Comments

Africa Travel

Africa’s Travel & Tourism Top 2018 Highlights

Africa’s travel and tourism industry continued to record impressive growth in the past year. The continent hit a 63 million high in international tourist arrivals in 2017, as compared to 58 M in 2016 (+ 9% vs 2016); according to a Hospitality Report published in December 2018. The growth record is slightly above the global performance of a 7% rise in 2017, to reach a total of 1.323 billion international tourist arrivals. Here are some of the tourism highlights for the just concluded year, 2018. International tourist arrivals As compared to her counterparts, Africa’s share of international tourist arrivals was only 5%. Europe boasted the lion’s share with 51%, followed by Asia and the Pacific which recorded 24%. The Americas and the Middle East had 16% and 4% respectively. Results we...

The Opportunity Cost of Doing Business for SMEs in Africa

15Dec

By Josephine WawiraNo Comments

Kenya News, Main

The Opportunity Cost of Doing Business for SMEs in Africa

Fintechs are Easing Access to Credit for Small and Medium Enterprises. The African economy has gathered momentum over the years, with an estimated increase of 3.8% of the real output growth in 2017. As the largest economies gradually strengthen, the 2018/2019 performance should reach 4.1% according to the African Development Bank. This economic growth and sustainable development has largely been contributed by Small and Medium Enterprises (SMEs). In Kenya for instance, SMEs contribute approximately 40% to the GDP and employ over half of the country’s workforce. Yet, becoming a profitable SME in the continent is never a smooth sail for many. There’s the presence of stringent government regulations in several countries, though the flexibility of doing business in others is a force to be re...