Africa is forecast to surpass half a billion e-commerce users by 2025, having shown a steady 17 compound annual growth rate of online consumers in the market, according to the International Trade Administration, a US government agency.
This growth is driven by increasing internet penetration, smartphone adoption and the growing use of digital financial services, especially mobile money.
Were looking at an expansion strategy to move into multiple markets. Were already operational in Egypt as a second country, but we are quite seriously looking at, in the future, building a network across Africa, Pargo CEO and co-founder Lars Veul said.
He said the options would span the main economies in Africa. We dont know exactly where yet. So, its more about the countries where e-commerce is booming or expected to boom.
The expansion will also be driven by following its existing clients into countries where they operate outside of South Africa, Veul added.
